Home affordability in Houston and Harris County see sharp decline

Home affordability in Houston and Harris County is plummeting, with home prices quadrupling since 2018, while median-income household purchasing power has only increased by 1.2%. Only seven neighborhoods remain affordable for home purchases based on median income. As a result, potential homeowners are exploring options in Fort Bend and Montgomery counties. Furthermore, there are fewer Black homeowners in Houston and Harris County compared to five years ago, though Houston is faring better than other cities amidst the affordable housing crisis.