Houston is consistently recognized for its relatively low cost of living, but how much does it actually cost to live in the city?
Local real estate agent Paige Martin crunched the numbers and figured out the median home price for some of the most popular Houston neighborhoods and how much it would cost to live in the area.
Martin found that the average salary requirement grew 7.7 percent from last year, which is partially due to rising interest rates but also increases in home values throughout many neighborhoods. Neighborhoods that fall into the city’s top school districts and ones that saw less flood damage during Hurricane Harvey saw the biggest change in cost of living.
The estimates used a 20 percent down payment to figure out salary estimates and the median home price was calculated mainly using single-family home prices.
Three neighborhoods on the list were affordable to residents making less than $60,000: Northwest Houston, with a median home price of $191,900 and an estimated salary of $52,990, the Medical Center, with a median home price of $210,000 and estimated salary of $57,988, and Missouri City, which has a median home price of $214,900 and an estimated salary of $59,341.
The most expensive neighborhoods were River Oaks, which has a median home price of $2.18 million and requires a salary of more than $600,000, and Memorial Park, which requires nearly $500,000 to afford the $1.8 million median home price.
See what salary range is required for top Houston-area neighborhoods below.
|Salary Range||Central Houston||Suburbs|
|Under $80,000||*Galleria, *Medical Center, University Area & Riverside||Champions, Clear Lake, Copperfield, Cypress, Eldridge North, Friendswood, Jersey Village, Katy, Kingwood, League City, Missouri City, Northside, Northwest Houston, Pearland, Spring|
|$80,000 – $150,000||Briargrove Park, Cottage Grove, *Downtown, *EaDo, Heights, Knollwood, *Memorial West, Meyerland, *Midtown, Oak Forest, Rice Military, Spring Branch, Timbergrove, Washington / East Sabine||Energy Corridor, Fall Creek, Fulshear, Sienna Area, Sienna Plantation, The Woodlands, Sugar Land|
|$150,000 – $250,000||*Braeswood Place, Briargrove, Garden Oaks, *Memorial Close In, Montrose, *Museum District, River Oaks Shopping Area|
|Over $250,000||Bellaire, Highland Village, Memorial Park, Memorial Villages, River Oaks, Royden / Afton Oaks, Tanglewood, West University|
*Median home price values are from single-family homes, except these neighborhoods where condos, townhomes and single-family homes are considered due to the above average number of condos/townhomes in these areas.