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Why The Houston Area Is Right For Real Estate

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Houston is known for being a city of infinite possibilities.

Along with being not only the nation’s fourth-largest city but also its fastest-growing, Houston is an incredibly diverse and progressive place to live.

The Houston metro already has over 5.7 million residents. That’s more than 32 states! And it’s growing. There are several reasons for the growth, which really helps to ensure that there won’t be any change to this pattern of new folks moving in. Let’s take a look at some of the key contributing factors to why so many newcomers are looking to call Houston home:

HOUSTON’S ECONOMY

Houston’s economy is unbelievably strong – especially compared to cities of comparable size, such as Chicago and Philadelphia. Many people are surprised to learn that Houston is home to 29 of the nation’s Fortune 500 companies. The only metro area that boasts more of these businesses is New York City. Perhaps even more surprising is that 16 of Fortune’s 100 Fastest-Growing Companies can be found in the Houston area. The city’s strong foundation for commerce has led to a very stable job market. In fact, Houston has been the top city for job creation in the country in recent years.



Welcome to Houston
 

A major contributing factor to the city’s continuous job growth is the diversity of industries in which the area offers career opportunities. Houston may be known for its rich history in the oil and energies industry, but did you know that Houston is now considered one of Forbes’ Top 10 Up-And-Coming Tech Cities? Houston is also home to the world-renowned Texas Medical Center, which features of 20 million square feet of treatment facilities and employs over 50,000. In fact, the Texas Medical Center treats over 5 million patients each year. Houston is also home to the University of Texas MD Anderson Cancer Center, which is a top-ranked facility itself. Houston is also home to one of the nation’s largest ports and one of the world’s top air travel systems, making it a well-rounded choice for anyone looking to work in growth industries such as energy, healthcare, education, engineering or transportation. And, of course, who could forget that Houston is home to NASA?

EDUCATION

The Houston area also boasts over 60 colleges and universities. These institutions attract over 360,000 students to the area each year, many of whom never leave after they graduate. Perhaps that’s because Houston is one of the Best Cities in the Country for College Graduates according to Forbes. Maybe it’s the strength of the local job market. Or maybe they just fall in love with the city.

LIFESTYLE

Houston, commonly called “Space City,” is not just another big city on the map. It’s a diverse and progressive area that sprawls across 600 square miles. In fact, you could fit New York City, Washington, D.C., Boston, San Francisco, Seattle, Minneapolis and Miami together inside the city limits of Houston. And this is one city that knows how to use that land. Houston ranks number one in total acreage of parkland in the U.S., which makes it easy for residents to get outside and soak up some sun. This is really helpful because of the delightfully warm weather the city experiences, averaging only 18 days below freezing each year.



Houston lifestyle
 

In addition to spreading the green areas around, Houston does have a tremendous city life. It’s known the world over for its tremendous selection of Tex-Mex and Southwestern culinary favorites. What many people don’t realize, though, is how diverse the city is. With significant populations representing over 85 nations and 90 languages in the city proper, Houston is one of the best places in the world to find a wide assortment of different ethnic foods – most notably Indian, Mexican, Vietnamese, Thai and Turkish. That’s just for starters! And if that exciting array of flavors doesn’t whet your appetite, maybe the 17-block theatre district or one of the city’s professional sports teams can help to get your heart pumping!

Houston really is a place for everyone. We like to say that you may come for the work but stay for the city. Kiplinger’s Personal Finance agrees, naming Houston the nation’s top city to Live, Work and Play.

So What's This Got To Do With Real Estate?

Everything! Houston is an exciting, vibrant city and the rest of the world is taking notice! This area has so much to offer and now that everyone else sees it they can’t help but to get in on it. Sure, other cities may have a high quality of life and maybe even a strong job market, but none are able to compare to Houston when it comes to making each dollar count.

Even though the area has been thriving, it’s maintained a low rate of inflation. In fact, Houston is one of the most affordable cities in the nation. Overall after-taxes-living costs are 12% under the national average. Housing costs are 26% below the national average, making Houston real estate a prime investment opportunity for anyone looking to expand their portfolio.

Whether you’re looking to buy a home for your own family or simply interested in real estate investing, you cannot go wrong with Houston. Maybe it’s no coincidence that the first word spoken on the moon was “Houston.”

If you’re interested in finding out more about real estate investing in the Houston area, please give us a call at (281) 894-1800.