Houston was nominated “Number 1 on Forbes Top 10 Healthiest Markets in 2015”
From 2001-2010 Houston’s population in its metropolitan area grew faster than any other US city. Additionally, nearly 200,000 people relocated to Houston over the last 2 years.
Due to the MSA’s immense increase in population, the market stands to benefit from long term increases in housing demand.
As shown in the homeownership rate in Houston, many of these new households are choosing to rent rather than buy which has caused both home prices and rents to increase. Overall, we believe Houston offers great opportunities for investors looking to purchase investment properties as there continues to be strong, long-term demand and limited supply.
The Greater Houston Partnership shows that GDP is expected to double between 2015 and 2040. Between 2009 and 2014 Houston MSA real GDP grew by 22%, more than twice the US as a whole. The last 24 calendar months of record-high home sales have reduced home inventory to a 13-year low, as a result of healthy demand for residential real estate.
Houston’s robust economy is a driver of the areas rapid population growth. Recent low oil prices are now showing some signs of recovery; meanwhile, Houston’s economy continues to prosper as Health Services as the Leisure and Hospitality Sectors remain buoyant: In the twelve months prior to February 2016, the amount of workers in Health Service and in Leisure and Hospitality increased 4.5% and 7.2% respectively.
Additionally, Houston is a global city and the nation’s top exporter. Due to the MSA’s global footprint, Houston can rely on growth opportunities outside of its borders giving the area support if any of its major industries falter. Houston’s dynamic economy gives us confidence in the areas long term growth and belief the MSA offers great value to investors.
Population Growth 2014 to 2015
07 2014-07 2015
Population Growth 2010 to 2015
07 2010-07 2015
Per Capita Personal Income
Median Home Price
Annual Median Home Price Growth
We are committed to ensuring a legacy of integrity and value by building quality homes and communities for customers, enriching our investors through long-term wealth building strategies and sharing success with our employees. Greystone is dedicated to offering our customers superior products and services and to adding value for our investors through out expertise, innovation, foresight, and reliability.