Houston homes affordable on global scale
January 27th, 2011 9:18am
| Share This |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
 |
A new report says that Houston homes aren't just some of the most affordable in the country, the Houston real estate market is also among the most affordable in the English-speaking world.A recent study by Demographia examined the median home prices and median incomes during the third quarter of last year in major cities in the U.S., U.K., Ireland, Australia, Canada and Hong Kong. Economists said that any city where the median home price was less than three times the median income had very affordable homes.
Among cities with more than 1 million people, Houston homes tied for the 15th-most affordable in the study, with homes costing $160,600 just 2.9 times the median income of $54,500. The most affordable major city in the country was Atlanta.
In addition, no major city outside the U.S. was listed as affordable, and American cities made up 42 of the top 45 most affordable major cities included in the report.
That level of affordability should help boost home sales figures in the local area. Houston home sales numbers have remained below their year-ago levels in every month since the expiration of the first-time homebuyer tax credit.
Related News Articles in Homes for Sale
- Homeownership still part of the American Dream for many
According to a recent survey conducted by an online real estate company, owning a home remains a priority for many consumers who still consider it part of the American Dream.September 22nd, 2011 4:43am - Houston home builders upset with new fees and regulations
According to a recent report from The Community Impact Newspaper, homebuilders in Houston have remained busy lately, but many are becoming upset with new fees and regulations, which could threaten their business.September 16th, 2011 7:50am - Houston real estate market experiencing a 'comeback'
A recent editorial in CultureMap Houston referred to a comeback taking place in the region's real estate market.September 16th, 2011 7:49am - Home sales in North Texas increase during August
According to data compiled by the Texas A&M Real Estate Center, record-low interest rates for mortgages have driven more consumers to purchase properties in Northern Texas.September 13th, 2011 7:49am - Energy sector fueling Texas economy
According to a recent report from the Federal Reserve Bank of Dallas, Texas' energy sector has been driving the state's economy, while other sectors have been unable to record growth.September 13th, 2011 7:48am
My Account
Log in, to view your saved searches and add to your favorite listings.
Forgot your password? Click here!
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
