New Kinder report shows housing affordability in Houston and Harris County is falling sharply

HOUSTON, Texas (KTRK) — The Kinder Institute’s State of Housing Survey released Thursday shows that homeownership in Houston is increasingly out of reach for many residents, despite the Bayou City’s long-standing reputation as one of the most affordable metropolises in the country to own a home.

The fifth annual survey measures trends in the region over the past five years and shows the housing affordability gap is widening. Housing prices in Harris County have quadrupled since 2018, up 43%, and yet the purchasing power of a median-income household has only increased 1.2%.

Only seven neighborhoods in Harris County are considered affordable to buy a home based on the county’s median household income of approximately $71,000: Kashmere Gardens, Pleasantville, South Park, Gulfgate Riverview/Pine Valley, Galena Park, Eastex/Jensen and Denver Harbor/Port. from Houston. According to the report, even a household earning $100,000 a year could not afford to buy a home at the median price in the majority of neighborhoods.

Potential owners appear to be looking outside Harris County. This year, the Kinder Institute studied Fort Bend and Montgomery counties for the first time and found that both counties had virtually the same number of homeowners as Harris County, although they had only a third Population.

“The result of our inaction is that our very strong workforce, our hardworking Houstonians for our great businesses and industries in Harris County, are driving and living in other, more affordable counties. In effect, they are withdrawing their Harris County wages and incomes Our economy depends on an affordable housing plan,” said Allison Hay, executive director of Houston Habitat for Humanity.

In all three counties, Hispanic households are increasing their share of homeownership. But the city of Houston and Harris County have proportionately fewer black homeowners than five years ago. Although the county added 17,000 new black homeowner households, the city of Houston experienced a loss of black homeowners.

Houston, however, is still better positioned than many cities in the nation’s affordable housing crisis. The affordability gap is three times lower than Austin’s and 40% lower than Dallas.

“We really think that Houston is in a unique position to address affordability issues, given that it starts from a better place than some urban areas,” said Ruth N. López Turley, director of the Kinder Institute. “Housing is a key area of ​​research for us as it affects so many aspects of our lives, from education to health to economic mobility.”

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