With soaring interest rates and skyrocketing home prices dominating the news, buying a house in Texas might seem like an impossible dream for many. However, the Houston area is defying these odds, offering a glimmer of hope for potential homeowners.
According to a new study, three suburbs in H-town have emerged as the most “house rich” cities in the United States: Sugar Land (No. 3), Pearland (No. 5), and League City (No. 7).
So, what does it mean to be “house rich”? Home services provider All Star Home dug into U.S. Census Bureau data, analyzing the median value of owner-occupied homes and the median household income in the 25 most populous American cities. They established a home-value-to-income ratio and ranked the cities based on this ratio, coupled with high homeownership rates.
Let’s break it down:
- Sugar Land boasts a remarkable homeownership rate of 80.90%. The median home value here is $397,000, with a median household income of $132,766. This gives Sugar Land a home-value-to-income ratio of 2.78, the highest among the three suburbs. View homes for sale in Sugar Land
- Pearland follows closely with a homeownership rate of 76.60%. Homes in Pearland have a median value of $334,800, and the median household income is $103,496, resulting in a home-value-to-income ratio of 2.52. View homes for sale in Pearland
- League City isn’t far behind, with a homeownership rate of 74.40%. The median home value here is $350,300, and the median household income stands at $104,867, giving it a home-value-to-income ratio of 2.44. View homes for sale in League City
Here’s the full list of the top 10 most house rich cities in the U.S.:
- Davie, North Carolina
- Buckeye, Arizona
- Sugar Land, Texas
- Fishers, Indiana
- Pearland, Texas
- Lee’s Summit, Missouri
- League City, Texas
- Rio Rancho, New Mexico
- Boise, Idaho
- Broken Arrow, Oklahoma
In a market where owning a home feels like a far-fetched dream, Houston’s suburbs stand out as a beacon of affordability and prosperity. Whether you’re looking to settle down in the charming streets of Sugar Land, the welcoming community of Pearland, or the vibrant neighborhoods of League City, the H-town suburbs are proving that homeownership is still within reach.