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Housing affordability declined for all ethnic groups in the Houston area, according to a June 17 report from the Houston Association of Realtors.
The report revealed 40% of all households earned the minimum income of $105,200 to buy a median-priced home of $336,000 in 2023. In 2022, 44% of households earned the minimum income needed to buy a median-priced home.
The breakdown
According to the report:
Quote of note
HAR Chair Thomas Mouton said high interest rates have put the “American dream of homeownership” further out of reach for groups that have historically struggled to buy a home.
“This underscores the need for equitable solutions to ensure that every family has access to affordable housing, regardless of race or ethnicity,” Mouton said via the report.
