How Much Salary Do You Need To Buy A Home In Houston's Top Neighborhoods
Find the best places to live in Houston for your budget.
Forbes, Money Magazine, and the _US Census Bureau, all list Houston as one of the most affordable cities in the country (1).
The cost of living in Houston ranks third lowest among the top 20 most populous US metros. Based on the cost of living data, it's 29.2% cheaper to live here than in the 20 biggest cities in the country (2).
We analyzed median home prices & estimated salary requirements for the 52 best neighborhoods in the Houston area to help you decide where you can best afford to live.
We have great lenders. Contact Paige Martin at [email protected] for great mortgage banking recommendations. Paige Martin is ranked as the #1 Keller Williams Realtor in Houston and #5 Keller Williams Realtor in the United States.
Table of Contents
- Houston Home Salary Requirements Highlights & Data
- Annual Salary & Houston Neighborhoods Matrix
- Under $80,000: Where can I Afford to Live in Houston?
- $80,000 to $150,000: Best Neighborhoods
- $150,000 to $250,000: Cost of Luxury Homes
- Over $250,000: Most Expensive Areas
- Sources, Methodology & Disclosures
- The Best Houston Realtor to Sell Your Home
Houston Home Salary Requirements Highlights & Data
“Paige Martin is Houston's best Realtor. She is highly experienced and very knowledgeable. She made our buying experience an enjoyable one, not only for us, but for our daughter, son-in-law and several of our friends. We have bought and sold many houses, and Paige has been the best realtor we have ever worked with. We highly recommend her and The Houston Properties Team.” Jeremy & Lynn Greene
Highlights
As reflected in the data below, homebuyers are spending more in monthly payments than they would two years ago on a similar property given increased prices.
Homeowners who benefited from lower mortgage rates are less motivated to move (and sell).
The new mortgage rates have impacted the real estate market. The data below shows the home price range in Houston's top neighborhoods with today's mortgage rate.
As always, real estate is hyper-local. See how your neighborhood and the home affordability are doing.
Data Summary
The neighborhoods we selected came from our lists of:
Our estimates of Houston home salary requirements used a 20% down payment. However, some lenders have special 0% or 5% down loans. Contact me for a list of recommended mortgage providers and who to avoid.
Houston median home prices below include only single-family homes unless otherwise stated. Methods and calculations for the salary needed to live comfortably in Houston are listed at the bottom of this article (1).
Annual Salary & Houston Neighborhoods Matrix
If you’d like to see any specific single-family homes, please contact Paige Martin at [email protected]
Note: We're only displaying the first ten neighborhoods per section here. For the full list, please refer to the tables under each respective salary range below.
Under $80,000: Where can I Afford to Live in Houston?
"The Houston Properties Team was absolutely amazing. I had initially listed with a different realtor that was recommended by a neighbor with very poor results. It was even more difficult because I was no longer in Houston and the trust I had put in the other agent was definitely taken advantage of. However, when I found Kim with the Houston Properties Team, all that changed. I was informed throughout the process and when she promised something would be done, it was. Before the experience with her, I swore off ever even considering purchasing a home again. She restored my faith in the real estate world." – Jeanette (Google Review)
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Bear Creek South | $267,500 | $80,000 | 49% |
| Southbelt / Ellington | $265,000 | $80,000 | 43% |
| Huffman Area | $236,195 | $79,000 | -17% |
| Conroe Northeast | $258,950 | $79,000 | 42% |
| Crosby Area | $243,000 | $79,000 | 22% |
| 1960/Cypress Creek South | $250,495 | $77,000 | 47% |
| Humble Area South | $252,500 | $77,000 | 36% |
| Willowbrook South | $253,500 | $76,000 | 49% |
| Spring East | $245,000 | $76,000 | 42% |
| Northside | $250,000 | $76,000 | 0% |
| Five Corners | $250,000 | $75,000 | 47% |
| Alief | $250,000 | $74,000 | 40% |
| La Marque | $247,525 | $74,000 | 26% |
| Medical Center South | $249,990 | $74,000 | 46% |
| Sharpstown Area | $220,000 | $74,000 | 12% |
| Denver Harbor | $242,050 | $73,000 | -17% |
| Humble Area West | $240,000 | $73,000 | 37% |
| Humble Area East | $240,000 | $73,000 | 37% |
| Pasadena | $239,900 | $72,000 | 33% |
| Aldine Area | $230,000 | $70,000 | 50% |
| Bacliff/San Leon | $231,450 | $68,000 | 8% |
| Northeast Houston | $225,000 | $66,000 | 38% |
| South Houston | $220,000 | $66,000 | 30% |
| Hobby Area | $217,500 | $64,000 | 37% |
| Willis/New Waverly | $215,000 | $61,000 | 14% |
Bear Creek South
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Bear Creek South | $267,500 | $80,000 | 49% |
Bear Creek Village is a well-established suburb located north of the Energy Corridor. It is also nearby various amenities and must-visit attractions.
Bear Creek South is popular thanks to its:
FASCINATING ARCHITECTURE: The neighborhood boasts traditional and English-style homes. There are also a few homes that feature modern and futuristic designs.
PRIME LOCATION: The community is near major thoroughfares and freeways. It is also only a few minutes and miles away from Downtown Houston and the Memorial area.
PARKS AND TRAILS: It is next to Bear Creek Pioneers Park, the place for outdoor activities. Other parks and trails nearby also feature sports fields and picnic areas.
A civic club enforces deed restrictions across the community's 13 sections. Based on neighborhood evaluations, it is among Houston's Top Suburban Neighborhoods.
Southbelt / Ellington
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Southbelt / Ellington | $265,000 | $80,000 | 43% |
Southbelt / Ellington is a historic neighborhood near Downtown Houston. It is also near various business and entertainment centers.
Southbelt / Ellington is popular due to its:
TOP-RANKED SCHOOLS: Southbelt / Ellington is zoned to the Clear Creek Independent School District. It is home to some of the top schools in Houston. This includes North Pointe Elementary, Clear Lake Intermediate, and Westbrook Intermediate.
ACCESSIBILITY: Residents living in this neighborhood can enjoy easy access to some of the major hotspots in Houston. Interstate 45, Beltway 8, and Texas State Highway 3 run along Southbelt.
NEARBY BUSINESS CENTERS: This community is also near major business centers. Some of the top employers near the area are NuGen Automation and Midwest Steel Co., Inc.
Southbelt / Ellington is also home to many parks and trails. Southbelt Hike & Bike Trail and Clear Brook City Park are some of its notable parks.
Huffman Area
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Huffman Area | $236,195 | $79,000 | -17% |
Huffman Area is a 35-minute drive from the northeastern outskirts of Houston. This makes accessing the Medical Center, Downtown, and local shops in Huffman easy.
Huffman Area’s commendable aspects include:
SUPERB ARCHITECTURE: Homes in the area feature a mix of traditional and ranch styles. Huffman Area’s properties offer spacious yards and increased privacy for residents.
PARKS AND TRAILS: Picturesque trails wind through Huffman Area’s lush landscapes. Huffman Area has vast green space making it great for hike and bike trail adventures. IT May Park is only a few minutes away.
PROXIMITY TO MAJOR ROADS: Huffman Area is near major roadways like FM 1960 and the Eastex Freeway. This offers residents easy access to neighboring areas and Houston.
Huffman Area boasts a lower population density. This fosters a closer-knit community atmosphere compared to some other Houston neighborhoods.
$80,000 to $150,000: Best Neighborhoods
Many of Houston’s most popular neighborhoods are also, historically, the best performers in real estate appreciation. Contact us for a custom list of homes in these areas.
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Deer Park | $269,500 | $82,000 | 37% |
| 1960/Cypress | $280,000 | $82,000 | 48% |
| Northwest Houston | $274,990 | $82,000 | 57% |
| Stafford Area | $280,000 | $82,000 | 56% |
| Mission Bend Area | $281,500 | $82,000 | 52% |
| Brays Oaks | $282,450 | $83,000 | 24% |
| Hempstead | $275,000 | $83,000 | 11% |
| La Porte/Shoreacres | $283,500 | $84,000 | 53% |
| Katy North | $290,000 | $86,000 | 54% |
| Winrock | $232,800 | $87,000 | 8% |
| Atascocita South | $290,000 | $87,000 | 36% |
| 1960/Cypress Creek North | $300,000 | $88,000 | 60% |
| Atascocita North | $299,744 | $89,000 | 44% |
| Conroe Southeast | $290,390 | $90,000 | 43% |
| Missouri City Area | $304,320 | $91,000 | 47% |
| Waller | $286,990 | $92,000 | 28% |
| Porter / New Caney East | $289,990 | $93,000 | 13% |
| East End Revitalized | $300,000 | $93,000 | 0% |
| Copperfield Area | $315,000 | $94,000 | 48% |
| Kingwood West | $315,000 | $94,000 | 55% |
| Eldridge North | $324,250 | $95,000 | 53% |
| Dickinson | $317,200 | $95,000 | 54% |
| Brookshire | $286,840 | $96,000 | -1% |
| Conroe Southwest | $311,630 | $96,000 | 22% |
| Medical Center Area | $296,995 | $96,000 | 24% |
| Sugar Land North | $336,000 | $96,000 | 29% |
| Porter / New Caney West | $297,970 | $96,000 | 35% |
| Lake Conroe Area | $330,000 | $98,000 | 36% |
| Santa Fe | $337,000 | $99,000 | 48% |
| Hockley | $299,990 | $99,000 | 45% |
| University Area | $320,000 | $99,000 | 28% |
| Oak Forest West | $347,700 | $100,000 | 33% |
| Spring/Klein | $336,825 | $101,000 | 50% |
| Spring/Klein/Tomball | $339,750 | $102,000 | 51% |
| Clear Lake Area | $350,000 | $104,000 | 40% |
| Magnolia/1488 West | $334,990 | $106,000 | 26% |
| Champions Area | $360,000 | $106,000 | 59% |
| Fort Bend South / Richmond | $343,195 | $107,000 | 59% |
| Jersey Village | $360,000 | $107,000 | 60% |
| Kingwood South | $367,000 | $108,000 | 50% |
| Midtown Houston | $346,500 | $110,000 | 8% |
| Willow Meadows Area | $379,100 | $110,000 | 29% |
| Magnolia/1488 East | $353,745 | $111,000 | 8% |
| Cypress North | $372,000 | $111,000 | 51% |
| Tomball | $365,000 | $112,000 | 40% |
| League City | $385,000 | $113,000 | 45% |
| Pearland | $378,000 | $114,000 | 45% |
| Summerwood / Lakeshore | $375,000 | $116,000 | 31% |
| Friendswood | $407,990 | $117,000 | 52% |
| Tomball South/Lakewood | $381,250 | $117,000 | 43% |
| Katy Old Towne | $355,000 | $118,000 | 22% |
| Galleria | $335,000 | $118,000 | 15% |
| Fort Bend County North / Richmond | $395,000 | $121,000 | 51% |
| Kingwood NW/Oakhurst | $400,000 | $121,000 | 39% |
| Sugar Land East | $442,500 | $126,000 | 39% |
| Spring Northeast | $418,000 | $127,000 | 63% |
| Kingwood East | $430,000 | $128,000 | 45% |
| Katy Southeast | $445,000 | $131,000 | 61% |
| Shepherd Park Plaza Area | $449,000 | $132,000 | 2% |
| Downtown Houston | $293,750 | $133,000 | 17% |
| Energy Corridor | $460,000 | $134,000 | 29% |
| Tomball Southwest | $411,647 | $134,000 | 9% |
| Fulshear/South Brookshire | $434,990 | $138,000 | 13% |
| Cypress South | $430,000 | $140,000 | 49% |
| Spring Branch | $465,000 | $140,000 | 37% |
| Riverside | $468,000 | $140,000 | 51% |
| Sienna Area | $445,000 | $142,000 | 34% |
| Briarmeadow/Tanglewilde | $488,000 | $142,000 | 65% |
| Sugar Land West | $475,000 | $143,000 | 47% |
| Rosharon | $534,950 | $146,000 | N/A |
| Katy Southwest | $487,000 | $147,000 | 45% |
| Washington East/Sabine | $497,000 | $149,000 | 16% |
| Cottage Grove | $500,500 | $150,000 | 25% |
Deer Park
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Deer Park | $269,500 | $82,000 | 37% |
Deer Park is a family-centric neighborhood that offers convenient access to big Houston districts. Downtown and Texas Medical Center are within a 20-minute drive.
Deer Park is known for its:
RECREATIONAL PARKS: There are 28 parks all around the area. The largest park, Dow Park, spans 40 acres with sports facilities for various interests.
HIKE & BIKE TRAILS: Deer Park offers a 2.6-mile trail for its residents. The Deer Park Nature Preserve provides a scenic space for walking trails and birdwatching activities.
GOLF COURSE COMMUNITY: Deer Park features The Battleground Golf Course, an 18-hole golf course open year-round. It has well-maintained fairways, trees, and waterways that define the golf course.
Deer Park residents can access the nearby San Jacinto Battleground State Historic Site. The site is a tribute to the battle that paved the way for Texas' independence.
1960/Cypress
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| 1960/Cypress | $280,000 | $82,000 | 48% |
One of Texas' older neighborhoods, 1960 Cypress is 22 miles southwest of Downtown Houston. 1960 Cypress features excellent amenities, accessibility, and top-notch schools.
1960 Cypress real estate is popular due to its:
GREAT LOCATION: 1960 Cypress homes are nearby Interstate 45 and Cypress Creek Parkway. A bus line also runs along FM 1960, providing residents an easy commute to the Downtown area and ExxonMobil Campus.
TOP-NOTCH SCHOOLS: The community is zoned to Danish Elementary School, Arnold Middle School, and Cy-Fair High School. They are listed among some of Houston’s Best Schools.
NEARBY RETAIL AND ENTERTAINMENT: Residents enjoy easy access to Eldridge Town Center and Windermere Village Shopping Center. It is home to retail, entertainment, and shopping centers.
MASTER-PLANNED COMMUNITIES: 1960 Cypress features several subdivisions and communities within its area. It includes the Ponderosa Forest, hailed as the "River Oaks of North Houston."
Homes are set back on large wooded lots ranging from 6,000 to more than 30,000 square feet. Most subdivisions enforce deed restrictions, keeping the area residential.
Northwest Houston
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Northwest Houston | $274,990 | $82,000 | 57% |
Northwest Houston lies north of the Energy Corridor. The neighborhood features some of the Best Suburbs in Houston, vintage & recent properties, and housing options.
Northwest Houston remained popular thanks to its:
TOP PERFORMING SCHOOLS: Zoned to several school districts namely Aldine, Houston, Klein, and Cypress Fairbanks Independent School District. The community houses some of Houston’s Best Public Schools including Joe E Moreno Elementary and Burbank Middle.
AFFORDABILITY: Northwest Houston has some of the Best Suburbs in Houston based on community ratings for affordability, amenities, commute time, public schools, and livability. Woodwind Lakes, a Top-Rated Houston Gated Community, is also located in the area.
WIDE RANGE OF HOME OPTIONS: Northwest Houston features established subdivisions and master-planned communities, with vintage homes and new construction abodes. Traditional-style single-family homes and large estates can be found in the area.
STRONG REAL ESTATE MARKET: The Northwest Houston neighborhood area is one of the Best in Land Appreciation with strong results in 5 and 10-year valuations.
Northwest Houston homes range in size from 7,000 to more than 80,000 square feet and are spread out on large wooded lots along tree-lined streets.
$150,000 to $250,000: Cost of Luxury Homes
Buying or selling a home within the best neighborhoods in Houston can be very tricky. With over $1B real estate sales, the Houston Properties Team is the #1 Boutique Real Estate Team in Houston. Contact us for a custom Houston cost of living calculator, and we can review your options.
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Oak Forest East | $517,000 | $151,000 | 44% |
| Charnwood/Briarbend | $544,000 | $159,000 | 22% |
| Rice Military/Washington Corridor | $545,000 | $162,000 | 22% |
| Meyerland Area | $563,750 | $163,000 | 35% |
| Knollwood/Woodside | $575,000 | $167,000 | 22% |
| Fort Bend Southeast | $585,000 | $167,000 | 68% |
| Sugar Land South | $599,152 | $172,000 | 36% |
| The Woodlands | $663,000 | $195,000 | 85% |
| Briargrove Park/Walnutbend | $684,500 | $198,000 | 55% |
| Timbergrove/Lazybrook | $669,500 | $199,000 | 53% |
| Tiki Island | $690,000 | $201,000 | 43% |
| Greenway Plaza | $645,000 | $216,000 | 27% |
| Heights/Greater Heights | $765,000 | $223,000 | 61% |
| Montrose | $800,000 | $236,000 | 24% |
| Memorial West | $805,000 | $239,000 | 62% |
Oak Forest East
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Oak Forest East | $517,000 | $151,000 | 44% |
Located about 10 miles from downtown Houston, Oak Forest East is one of Houston’s best neighborhoods in land value appreciation.
Oak Forest East is known for its:
IDEAL LOCATION & ACCESSIBILITY: Oak Forest East is located just minutes from downtown Houston and the Galleria. Major roads and freeways are highly accessible from the neighborhood, including Loop 610, US 290, Ella Blvd, and TC Jester Blvd.
NOTABLE SCHOOLS: Oak Forest Elementary is one of the best schools in the city and in the State of Texas.
LARGE LOTS: Oak Forest East is known for its spacious lots ranging from 6,000 to over 17,000 sq. ft.
One of Houston’s older neighborhoods, Oak Forest features a mix of older ranch-style homes from the 1950s and 1960s and newer custom-built homes. The neighborhood also has an HOA that enforces deed restrictions.
Charnwood/Briarbend
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Charnwood/Briarbend | $544,000 | $159,000 | 22% |
Charnwood is in a tranquil setting nestled within the Western Houston area. An affluent neighborhood with solid real estate appreciation.
Charnwood features:
CENTRAL LOCATION: Charnwood is near Houston's leading business and retail centers, like the Galleria, the Memorial area, and the Inner Loop. Loop 610 freeway, San Felipe Street, Memorial Drive, and Westheimer Road are easily accessible.
ELEGANT VICINITY: Charnwood homes are on expansive wooded lots with parks, country clubs, shopping centers, and restaurants, along with the Buffalo Bayou lacing. The neighborhood has recently updated 1950s vintage homes with a newer Ranch-style home.
SMALL-TOWN VIBE: Charnwood is a deed-restricted community to maintain its overall look and small-town feel. The active civic association in the neighborhood helps enforce the deed restrictions.
STRONG HOUSING MARKET: Due to the reputable neighborhoods' continued popularity, Charnwood real estate has remained strong in the last few years. It has been included in the list of Houston's top 25 most expensive areas.
Charnwood lot sizes range from 13,000 up to more than 15,000 square feet. Like most of Houston's affluent neighborhoods, deed restrictions are implemented in Charnwood to maintain the community's overall look and atmosphere.
Rice Military/Washington Corridor
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Rice Military/Washington Corridor | $545,000 | $162,000 | 22% |
Rice Military is located within the Inner Loop of Houston. The community features a mix of gated communities, residential neighborhoods, and excellent amenities.
The Rice Military is famous for its:
ACCESSIBILITY: Rice Military is one of the Most Accessible Neighborhoods in Houston. The community is 5 miles away from the Medical Center and less than 15 minutes short drive away from Downtown Houston and the Galleria.
NOTABLE SCHOOLS: Rice Military is served by two of Houston's Best Schools, both of which are IB World Schools. Top-performing schools like Hogg Middle School and Lamar High School serve the community.
UPSCALE GATED COMMUNITIES: Several gated communities comprise the Rice Military neighborhood. Caceres is one of Houston's Best Gated Communities.
EXCITING RETAIL AND ENTERTAINMENT: With proximity to Washington Avenue and Memorial Drive, the residents enjoy easy access to nearby restaurants, dining spaces, retail centers, lounges, cafes, and bars.
The neighborhood also features a wide range of housing options and architectural designs, from single-family homes to patio homes, and new-construction townhomes. Homes showcase traditional and modern styles. There are also condos in mid-rise residential buildings in the area.
Over $250,000: Most Expensive Areas
Whether you buy or sell first depends on the current market and your unique situation. Both options come with an element of risk. Our experience taught us to make the proper assessment out of the overall scenario every homeowner is in. Contact us to help you make the most viable decision.
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Briar Hollow | $785,000 | $253,000 | 42% |
| Westchase Area | $839,999 | $258,000 | 31% |
| River Oaks Shopping Area | $910,000 | $260,000 | 32% |
| Garden Oaks | $1,100,000 | $314,000 | 147% |
| Highland Village / Midlane | $1,100,000 | $317,000 | 17% |
| Upper Kirby | $1,172,625 | $367,000 | 51% |
| Bellaire Area | $1,345,000 | $398,000 | 29% |
| Briargrove | $1,395,000 | $405,000 | 75% |
| Rice / Museum District | $1,450,000 | $417,000 | 76% |
| Memorial Park | $1,547,000 | $459,000 | 1% |
| Braeswood Place | $1,612,500 | $464,000 | 57% |
| Royden Oaks/Afton Oaks | $1,725,000 | $498,000 | 97% |
| Memorial Close In | $1,759,000 | $523,000 | 50% |
| Tanglewood Area | $1,925,000 | $560,000 | 30% |
| West University/Southside Area | $2,065,000 | $583,000 | 61% |
| Memorial Villages | $2,800,000 | $791,000 | 77% |
| River Oaks Area | $3,255,000 | $939,000 | 68% |
| Rivercrest | $4,400,000 | $1,264,000 | 13% |
Briar Hollow
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Briar Hollow | $785,000 | $253,000 | 42% |
Located south of Buffalo Bayou and Memorial Park, Briar Hollow is home to numerous upscale gated communities, luxury high-rise condominiums, and world-class retail centers. The neighborhood is nestled between the Galleria and River Oaks, one of Houston’s most expensive neighborhoods.
The community is known for its:
PROXIMITY TO GALLERIA: Briar Hollow provides quick access to the Galleria, one of the city’s most vibrant retail and business districts. The area is home to over 23 million square feet of office space and around 5 million square feet of retail spots.
HIGHLAND VILLAGE & RIVER OAKS DISTRICT: The neighborhood is located near the River Oaks District and Highland Village, which offer a mix of premier boutiques and high-end dining. Other exciting retail centers nearby are Uptown Park and Post Oak Plaza.
MEMORIAL PARK: Residents can enjoy miles of hike and bike trails, the Memorial Park Golf Course, and the Seymour Lieberman Exer-trail. The 1500-acre Memorial park has croquet, volleyball, skating, swimming, and tennis facilities, along with playgrounds and picnic spots.
The Wilshire and the Arabella are two new upscale high-rise developments with lavish amenities located within Briar Hollow. Audubon Hollow, Eaton Square, and River Hollow are among the best-gated communities in Houston.
Westchase Area
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| Westchase Area | $839,999 | $258,000 | 31% |
Located southeast of the Energy Corridor, Westchase covers over 4 square miles of land.
Westchase area is well-known due to its:
ACCESSIBILITY: Residents have access to several major thoroughfares, including State Highway 6, Beltway 8, and Westheimer Road, offering short commutes to key districts like the Galleria and Downtown.
PROXIMITY TO ENERGY CORRIDOR: The Energy Corridor is one of the largest employment centers in Houston. Several energy companies have offices in the area.
OUTDOOR RECREATION OPTIONS: Royal Oaks Country Club is one of Houston's best golf course communities. In addition, residents enjoy Woodchase Park which features a dog park, a water misting feature, and a multi-purpose pavilion.
The Westchase area offers an array of housing options spanning from single-family homes to townhomes, ranging from $300,000 to over $3,000,000.
River Oaks Shopping Area
| Area | Median Home Price | Salary Required* | 10 Year % |
|---|---|---|---|
| River Oaks Shopping Area | $910,000 | $260,000 | 32% |
River Oaks Shopping Area is nestled between River Oaks and Montrose. Rice Military borders the north side, while Upper Kirby is on the southwest of the neighborhood.
The district is highly in demand thanks to its:
EXCELLENT LOCATION: River Oaks Shopping Area boasts an excellent location within the Inner Loop and provides easy access to Downtown, Galleria, and the Medical Center. Along with the Highland Village, boutiques and restaurants in Westheimer and San Felipe are minutes away.
SHOPPING, DINING, AND ENTERTAINMENT: The area is home to the River Oaks Shopping Center which has 100+ retail shops, restaurants, and entertainment venues. The River Oaks Theater, Houston's premier art house cinema, is within the shopping center.
TOP-RANKED SCHOOLS: The neighborhood is zoned to top-ranked schools such as Lanier Middle and Lamar High School. Both are IB World Schools.
PARKS & RECREATION: The neighborhood is a few minutes away from River Oaks Park. Memorial Park, one of Houston's largest urban parks, is just a short drive away. The park features a golf course, tennis courts, trails, and picnic areas.
River Oaks Shopping Area is near major thoroughfares, including Katy Freeway (I-10), Loop 610, and Southwest Freeway (US 59).
Sources, Methodology & Disclosures
With all the available information out there about Houston's top areas, it can be confusing when finally making a decision on which neighborhood to choose. Get the advice of the best Houston Realtors and remove the guesswork when looking for one of the best homes in Houston to live in.
Houston.org
*Default median housing price values are from single-family homes. Neighborhoods with * are exceptions. Condos, townhomes, and single family homes are considered. This is due to the above-average number of condos/townhomes in these market areas.
We used the following assumptions for calculating monthly PITI (principal, interest, taxes, and insurance) using data from https://www.mortgagecalculator.org/:
- 20% down payment
- 6.69% interest rate with a 30-year mortgage with no PMI
- The neighborhood tax rate, per HAR MLS data, per area
- A 20% average Texas Homestead discount (per HCAD.org, fbcad.org & mcad-tx.org)
The neighborhood median HOA fee if applicable. This mostly applies to * communities where condos or townhomes are included like Downtown Houston.
- 0.5% annual insurance costs
Annual home prices are based on HAR MLS reported sales for the prior year between January 1 and May 31. Starting on June 1, the current year HAR MLS sales data is used.
For annual appreciation or depreciation salary requirement rates, we did not make any modifications based on the most recent tax reform act. We assumed taxes rates were constant in our calculations between monthly PITI costs and salary requirements.
For “can comfortably afford” salary assumptions, we used that 28% of gross income could be used toward monthly PITI costs. Financial planners often say that 25-33% of income can be used toward monthly PITI payments. For qualification purposes, underwriters typically defer to their “back end” ratio which includes liabilities on credit reports. These include all revolving, installment, and mortgage liabilities. For this ratio, 36% is normally used in planning and around 43% is the maximum allowed.
- Reporters or news outlets, please contact [email protected] for an Excel export of every neighborhood’s associated data and calculations.
Data is deemed accurate but is not guaranteed. Information is provided for informational purposes only.
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Paige Martin, Broker Associate with Real Brokerage, and the Houston Properties Team are ranked amongst the top residential Realtors in the world.
They have been featured on TV and in dozens of publications including: The Wall Street Journal, Fortune Magazine, Reuters, Fox News in the Morning, Money Magazine, Houston Business Journal, Houstonia, and Houston Chronicle.
Paige Martin was just ranked as the #5 agent in the world with Real Brokerage, and has completed over $1,000,000,000 in Houston residential real estate sales.
Paige also serves a variety of non-profits, civic and community boards and was appointed by Houston’s Mayor to be on the downtown TIRZ board.
Benefits Of Working With The Houston Properties Team
Our Team, composed of distinguished and competent Houston luxury Realtors, has a well-defined structure based on the individual strengths of each member.
We find team approach as the most effective way to sell homes. We have dedicated people doing staging, marketing, social media, open houses and showings. Each Houston Properties Team member is a specialist in their role – which is why our homes sell faster and for more money than average.
The benefits of working with a team include:
- ability to be in two or three places at one time: a member can handle showings, while another answer calls
- collective time and experience of members
- targeted advise and marketing of agent expert in your area
- competitive advantage by simply having more resources, ideas, and more perspectives
- a “Checks and Balances” system. Selling and buying a home in Houston is an intensely complex process
- more people addressing field calls and questions from buyers and agents to facilitate a faster successful sale
- efficient multi-tasking: One agent takes care of inspections and/or repair work, while another agent is focused on administrative details
- multiple marketing channels using members’ networks
- constant attention: guaranteed focus on your home and your transaction
- lower risk for mistakes. Multiple moving parts increase oversights. A team approach handles these “parts” separately
- flexibility in negotiation and marketing
- better management of document flow
- increased foot traffic through more timely and effective showing schedule coordination; and
- increased Sphere of Influence and exposure to more potential buyers.
To meet all the award-winning members of The Houston Properties Team, please go here.
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