When it comes to getting the “most bang for the buck,” Houston ranks third in the country, according to a report from the residential real estate platform Home Bay.
Using data from the U.S. Census Bureau, Home Bay analyzed statistics from the 50 largest metropolitan areas in the country to determine which city offers the best value for buyers. Based on median price per square foot of new single-family homes, Houston ranked third in the country.
“Examining price per square foot is more important than in the past because housing prices are also outpacing income,” Home Bay stated in their report.
In 2021, Houston’s price per square foot was about $167, just below the national median of $169. Houston trails slightly behind Memphis and Indianapolis, with $92 per square foot and $134 per square foot, respectively.
Two other Texas cities landed on the top 10 cities with the most “bang for the buck”: San Antonio, with $172 per square foot; and Dallas-Fort Worth, with $186 per square foot.