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Housing costs in Houston are more affordable than the national rate, and due to population growth, the demand is greater, according to an economic report by the Greater Houston Partnership.
During its Midyear Economic Update on Aug. 5, GHP Director of Economic Research Chris Baker presented the organization’s findings on housing trends in the past 12 months in Houston.
Breaking it down: Houston’s overall inflation is about 0.8% compared to the United States’ 4%, which Baker said ties to housing.
“Locally here, we're a bit more insulated from overall price changes,” Baker said. “Housing continues to get more expensive around the rest of the country, but as of the most recent reading, we have essentially flat year-over-year housing-related price increases in Houston, which is helping to keep Houston more affordable than many other metros.”
Holly Heard, senior vice president of research at GHP, said most of the growth has been pushed into the suburbs. She said immigration has been a big factor in metro population growth, though it has slowed due to federal policies.
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