I am looking to invest in the Houston area. I hear Houston may be the best appreciating market in Texas in the future due to its economic revival. Is this true? Houston is huge. Which parts of Houston are the most promising? What would be the best type of investment: single family homes, condos in the downtown area or multifamily?
Any advice from you Houston experts out there would be greatly appreciated.
I use this site to do some basic homework http://www.bestplaces.net/ it is good for any city
Here is another good website http://recenter.tamu.edu/mreports/HoustonSLBay.html
That TAMU site is also good for most other Texas cities
I am in the process of relocating to the Houston/Galveston area to move my equity out of San Diego. I would be very interested in any information you might happen to get offline. The information I am getting right now ranges from Houston is wonderful to awful. I look at Houston as a safe port in a potential RE storm. Rising interest rates aren’t going to have much of an effect on property values in Houston, compared to some other parts of the country. Migration into the Houston area is very strong and that translates into good future RE values. I would stay away from apartments. The vacancy rates for them there is high.
Thanks for the feedback.
I also hear migration into Houston is strong. But the key question is: which parts of Houston are getting the most migration? Houston is huge and they can always build more houses in some areas, which kills appreciation. But there may be parts with good in-migration where building more is not an option. Does anybody know where these areas might be?
I live in Houston, however, I am no REI type of person yet. However, I can tell you some basics:
- City of Houston is revitalizing the downtown district. Alot of young people are buying lofts, etc. They would rather pay high to be next to the nightlife, shopping, etc.
- West end of galveston is picking up.
- Heights is a hot area (close to downtown)
- All the suburbs are hot- Pearland is going thru an mjore expansion, Clear lake, League City, Seabrook, - all of those south of Houston… North of Houston- Woodlands, kingwood… West of Houston- Sugarland, Katy…
Hope this helps some.