Houston, TXEnergy capital with one of the most affordable price points in major Sun Belt metros
Sources: FHFA House Price Index (ATNHPIUS26420Q), U.S. Census Bureau Building Permits Survey and Population Estimates, BLS Local Area Unemployment Statistics — retrieved from FRED, Federal Reserve Bank of St. Louis. 2BR Fair Market Rent from the U.S. Department of Housing and Urban Development. SunBeltPulse is independent and not affiliated with any of these agencies.
Sourced, dated figures for Houston — cite freely.
Side-by-side stats, charts & AI analysis
Houston — quarterly, Q3 2016 – Q2 2026 · 40 quarters
FHFA House Price Index for Houston moved from 248.5 in 2016-Q3 to 414.2 in 2026-Q2 across 40 quarters of data.
| Quarter | Houston-The Woodlands-Sugar Land |
|---|---|
| 2016-Q3 | 248.5 |
| 2016-Q4 | 249.2 |
| 2017-Q1 | 251.0 |
| 2017-Q2 | 255.7 |
| 2017-Q3 | 256.6 |
| 2017-Q4 | 259.9 |
| 2018-Q1 | 262.2 |
| 2018-Q2 | 266.6 |
| 2018-Q3 | 270.1 |
| 2018-Q4 | 269.9 |
| 2019-Q1 | 272.8 |
| 2019-Q2 | 277.2 |
| 2019-Q3 | 279.8 |
| 2019-Q4 | 280.9 |
| 2020-Q1 | 285.2 |
| 2020-Q2 | 289.2 |
| 2020-Q3 | 291.1 |
| 2020-Q4 | 295.1 |
| 2021-Q1 | 299.0 |
| 2021-Q2 | 312.1 |
| 2021-Q3 | 325.4 |
| 2021-Q4 | 336.7 |
| 2022-Q1 | 351.5 |
| 2022-Q2 | 364.9 |
| 2022-Q3 | 376.0 |
| 2022-Q4 | 376.6 |
| 2023-Q1 | 376.9 |
| 2023-Q2 | 384.9 |
| 2023-Q3 | 388.1 |
| 2023-Q4 | 386.6 |
| 2024-Q1 | 392.3 |
| 2024-Q2 | 393.6 |
| 2024-Q3 | 400.3 |
| 2024-Q4 | 401.3 |
| 2025-Q1 | 404.3 |
| 2025-Q2 | 400.6 |
| 2025-Q3 | 407.5 |
| 2025-Q4 | 409.4 |
| 2026-Q1 | 410.9 |
| 2026-Q2 | 414.2 |
Houston — new private housing units authorized, monthly, Oct 2024 – Sep 2026 · 24 readings
Monthly building permits authorized in Houston over 24 months (Oct 2024 – Sep 2026). Range: 3,651 to 6,757. Latest reading: 3,651.
| Month | Permits authorized |
|---|---|
| Oct 24 | 6,757 |
| Nov 24 | 5,099 |
| Dec 24 | 4,828 |
| Jan 25 | 5,731 |
| Feb 25 | 5,316 |
| Mar 25 | 6,463 |
| Apr 25 | 6,482 |
| May 25 | 5,811 |
| Jun 25 | 5,190 |
| Jul 25 | 5,771 |
| Aug 25 | 4,193 |
| Sep 25 | 5,120 |
| Oct 25 | 5,480 |
| Nov 25 | 4,522 |
| Dec 25 | 4,912 |
| Jan 26 | 4,206 |
| Feb 26 | 5,033 |
| Mar 26 | 5,055 |
| Apr 26 | 5,029 |
| May 26 | 5,118 |
| Jun 26 | 4,773 |
| Jul 26 | 5,773 |
| Aug 26 | 4,278 |
| Sep 26 | 3,651 |
Houston — BLS LAUS, monthly, Sep 2024 – Sep 2026 · 24 readings
Unemployment rate in Houston, Sep 2024 – Sep 2026 · 24 monthly readings. Range: 4.0% to 5.2%. Latest reading: 4.6%.
| Month | Unemployment rate (%) |
|---|---|
| Sep 24 | 4.5% |
| Oct 24 | 4.4% |
| Nov 24 | 4.5% |
| Dec 24 | 4.1% |
| Jan 25 | 4.5% |
| Feb 25 | 4.5% |
| Mar 25 | 4.2% |
| Apr 25 | 4.0% |
| May 25 | 4.2% |
| Jun 25 | 4.5% |
| Jul 25 | 4.8% |
| Aug 25 | 4.9% |
| Sep 25 | 4.8% |
| Nov 25 | 4.6% |
| Dec 25 | 4.3% |
| Jan 26 | 4.9% |
| Feb 26 | 4.7% |
| Mar 26 | 4.4% |
| Apr 26 | 4.3% |
| May 26 | 4.6% |
| Jun 26 | 5.2% |
| Jul 26 | 5.1% |
| Aug 26 | 5.0% |
| Sep 26 | 4.6% |
Latest figures: FHFA HPI +3.4% YoY, +0.8% QoQ (Q2 2026); unemployment 4.6% (Sep 2026); population +1.63% YoY (2025). Pandemic run-up on the same index: +32.0% from Q1 2020 to Q4 2022.
Houston's housing market reflects the breadth of its economy — energy, the Texas Medical Center, aerospace, and a port-and-petrochemical cluster along the Ship Channel that has drawn inbound moves for decades. In the Census Bureau's 2024 American Community Survey, Houston's median home value sat well below the average of the 12 metros we track, which has given the metro durable affordability appeal. Its pandemic-era run-up on the FHFA index was also the mildest of the twelve. Flood risk and insurance costs are the structural overhang; since Harvey in 2017, buyers have learned to check an address's flood history before choosing a neighbourhood.
Figures from FHFA House Price Index (ATNHPIUS26420Q), U.S. Census Bureau Building Permits and Population Estimates, and BLS Local Area Unemployment Statistics (retrieved from FRED, Federal Reserve Bank of St. Louis), plus HUD Fair Market Rents, refreshed with each release. The analysis is editorial, dated above, and names any third-party source it cites.
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Space City
Space City — home of NASA and the Astros
Total jobs
3.5M
BLS CES · curated Aug 2026
Unemployment
4.6%
BLS LAUS · Sep 2026
Job growth YoY
+1.5%
BLS CES · curated Aug 2026
Median HH income
$81K
Census ACS 2024, metro area
Share of total nonfarm employment
Metro-area headcount estimates
Houston Methodist
HealthcareMemorial Hermann Health System
HealthcareHouston ISD
EducationMD Anderson Cancer Center
HealthcareH-E-B
RetailUnited Airlines
LogisticsExxonMobil
EnergyShell
EnergyNASA Johnson Space Center
GovernmentChevron
EnergyLess oil-dependent than outsiders think — the Texas Medical Center now rivals energy for the largest employment cluster.
If you're moving to Houston expecting oil-and-gas everything, recalibrate. The Texas Medical Center — the largest medical complex in the world — employs more than 120,000 across Memorial Hermann, Houston Methodist, MD Anderson, Baylor College of Medicine, and Texas Children's. Energy still drives the top of the wage distribution, but headcount at the majors shrank through a decade of consolidation. The Port of Houston, petrochemical manufacturing along the Ship Channel, and NASA round out a job base most single-industry metros would envy.
Target healthcare at every level — it's the most durable hiring engine in the metro, and the one movers should treat as the safe bet. Energy majors pay the highest white-collar wages in Texas but run lean, so expect tough interviews and small hiring classes. Construction trades have steady demand thanks to LNG export terminals and petrochemical expansions along the coast. Houston's labour force has grown faster than its net job creation for most of the past decade, so targeting specific employers beats casting a wide net.
Timing: the HQ migration keeps compounding — Chevron's move from California is complete, and 2026 added Devon Energy (via its $58B merger with Houston-based Coterra) and Expand Energy, both shifting headquarters from Oklahoma City. The catch: Chevron is cutting 15–20% of its global workforce through 2026, with more than 1,200 Houston layoffs notified in 2025. If you're in energy-transition work — carbon capture, hydrogen, grid infrastructure — Houston is the most active US market for pilot projects, and that's the career bet the old oil patch is making. For medical-research roles, the Texas Medical Center pipeline is effectively always open.
Recent corporate moves
ExxonMobil
RelocationCompleted corporate headquarters relocation from Irving to the Spring campus north of Houston, consolidating roughly 10,000 employees onsite.
Chevron
RelocationAnnounced headquarters relocation from San Ramon, California to Houston in August 2024, completing the corporate move through 2025.
Cheniere Energy
ExpansionApproved the $6B Corpus Christi Stage III expansion with ancillary engineering and operations hiring based out of its Houston headquarters.
Shell
LayoffsCut roughly 200 Houston-based positions in its low-carbon solutions division as part of a strategic refocus on core oil and gas.
Chevron
LayoffsNotified Texas of more than 1,200 Houston layoffs across 2025 — roughly 700 downtown in the spring and 575 more after the Hess merger closed — part of a 15–20% global workforce reduction running through 2026.
Devon Energy
RelocationAgreed in February 2026 to a $58B all-stock merger with Houston-based Coterra Energy, with the combined company keeping the Devon name and making Houston its headquarters.
Expand Energy
RelocationNorth America's largest natural gas producer announced it will relocate its corporate headquarters from Oklahoma City to Houston in mid-2026, moving its executive leadership team first.
Source: NOAA NCEI, retrieved Oct 2026
Days ≥ 100°F
7
Extreme-heat days per year
Days ≥ 90°F
111
Hot days per year
Days ≤ 32°F
10
Freezing days per year
Annual precip
51.8"
104 rainy days/year
Houston — 1991-2020 normals · Houston Intercontinental Airport
Houston monthly climate normals. Average highs range from 64°F to 95°F (hottest: Aug at 95°F). Average lows range from 44°F to 76°F (coldest: Jan at 44°F). Total annual precipitation: 51.8".
| Month | Avg high (°F) | Avg low (°F) | Precipitation (") |
|---|---|---|---|
| Jan | 64 | 44 | 3.76 |
| Feb | 68 | 48 | 2.97 |
| Mar | 74 | 54 | 3.47 |
| Apr | 80 | 60 | 3.95 |
| May | 87 | 68 | 5.01 |
| Jun | 92 | 74 | 6 |
| Jul | 95 | 76 | 3.77 |
| Aug | 95 | 75 | 4.84 |
| Sep | 90 | 71 | 4.71 |
| Oct | 83 | 61 | 5.46 |
| Nov | 73 | 52 | 3.87 |
| Dec | 65 | 46 | 4.03 |
Cfa · Humid subtropical
Hazard levels are editorial ratings aggregated from FEMA, USDA wildfire risk, NOAA storm tracks, and NWS hail climatology. Not insurance or investment advice.
Hot, humid, and hurricane-prone — Houston's weather is defined less by temperature than by water.
Houston summers are relentless: June through September averages highs in the low-to-mid 90s with dewpoints routinely above 75°F, producing heat indices well over 100°F for weeks at a time. Winters are mild (January highs near 64°F) but punctuated by sudden Arctic fronts that can drop temperatures 40 degrees in a day. The defining feature, though, is rainfall. The metro averages 50+ inches a year, more than Seattle, and much of it falls in intense tropical downpours that overwhelm bayous and flat drainage.
Newcomers need to understand flood risk at a parcel level, not a city level. Huge swaths of Houston outside FEMA-mapped floodplains have flooded repeatedly — Harvey (2017) inundated roughly 136,000 structures, many of them 'low-risk.' Flood insurance is not optional even when your lender doesn't require it. Power infrastructure is a second concern: Hurricane Beryl (July 2024) cut power to 2.2+ million customers during 95°F heat, with some restorations taking two weeks. Generator ownership and tree-clearance around service drops are standard.
Hurricane season runs June 1 through November 30, and Houston has been hit by Allison (2001), Ike (2008), Harvey (2017), and Beryl (2024) in a single generation. Insurance markets are responding: homeowners premiums in Harris County have roughly doubled over the last decade, and some carriers have pulled out of Texas coastal counties entirely. Climate change is making Gulf storms wetter and intensifying faster, which means the 500-year storm is now a 15-year storm.
Historical edge scenarios
Hurricane Harvey — wettest U.S. cyclone on record
Harvey stalled over Houston August 25–29, 2017, dropping 40–50+ inches of rain; peak total 60.58 inches at Nederland. Harris County Flood Control estimates ~136,000 structures flooded; 500,000 vehicles destroyed. Total damage: $125 billion, Texas's costliest disaster.
Hurricane Beryl and 2.2M-customer blackout
Beryl made landfall near Matagorda on July 8, 2024, as a Category 1. CenterPoint Energy lost service to 2.2+ million Houston-area customers — some restorations took 14+ days during 95°F heat. At least 44 deaths in Texas, with 10+ linked to post-storm outages.
Winter Storm Uri
Uri pushed Houston temperatures to 13°F in February 2021 with three consecutive hard-freeze nights. Rolling blackouts left millions without heat; burst pipes damaged an estimated 1 in 4 Houston homes. Statewide death toll: 246+, with losses of $80–130 billion.
Neighbourhoods
Where people actually live — from historic bungalows to new-build cul-de-sacs.
Houston's most walkable inner-loop neighbourhoods punch above their weight for a car-centric city. Montrose is the urban standout — dense with independent restaurants, art galleries, and a mix of older bungalows and newer townhomes, at a clear premium to most of the city. The Heights (Houston Heights) delivers a more residential version of the same appeal: wide sidewalks, the Heights Hike and Bike Trail and the White Oak Bayou Greenway, Craftsman bungalows on tree-lined streets, and a long record as one of the inner loop's most sought-after addresses. Midtown and EaDo (East Downtown) are the condo and lock-and-leave plays for buyers prioritising proximity to Downtown and the Medical Center over yard space.
The Woodlands, mostly in Montgomery County, is the benchmark master-planned community — a walkable town center and a self-contained suburban ecosystem that later Houston suburbs have copied. Sugar Land in Fort Bend County is served largely by Fort Bend ISD and offers strong retail access. Katy, where Harris, Fort Bend and Waller counties meet on I-10, is the west-side volume play: large master-planned communities and newer construction.
Flood risk is the unavoidable variable in Houston neighbourhood selection — buyers should run FEMA flood zone maps and claim history for any address before proceeding. The value plays: Oak Forest and Garden Oaks, just north of Loop 610, for single-family homes below the Heights price point; Pearland (mostly Brazoria County) for suburban affordability with solid schools south of the city; and Acres Homes, north of Oak Forest and inside Beltway 8, for investors seeking lower entry prices.
As of Q2 2026, home prices in Houston rose 3.4% over the past year and rose 0.8% in the most recent quarter. Both annual and quarterly trends are positive — prices are still climbing. Source: FHFA All-Transactions House Price Index (ATNHPIUS26420Q), retrieved from FRED, Federal Reserve Bank of St. Louis.
The HUD Fair Market Rent for a 2-bedroom in the Houston metro is $1,497 per month (FY2027). HUD publishes Fair Market Rents annually as the benchmark for housing voucher payment standards — they reflect typical asking rents for modest, standard-quality units in the area. Source: U.S. Department of Housing and Urban Development.
Houston is growing strongly — population rose 1.63% year-over-year; the 2025 Census estimate puts the metro at 7,904,627 residents. Source: U.S. Census Bureau Population Estimates, retrieved from FRED, Federal Reserve Bank of St. Louis.
The Houston metro unemployment rate was 4.6% in September 2026 — a softening reading, above the national 4.0% (BLS, September 2026). Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, retrieved from FRED, Federal Reserve Bank of St. Louis; national rate: BLS Current Population Survey, retrieved from FRED.
Builders pulled permits for roughly 3,651 new private housing units in Houston in September 2026, running sharply lower than a year earlier (-28.7%). Source: U.S. Census Bureau Building Permits Survey, retrieved from FRED, Federal Reserve Bank of St. Louis.
About 8.7 cents of every dollar a first-year owner of the median Houston home pays (principal, interest, property tax and insurance) becomes equity, at the 7.18% 30-year rate of the week of Nov 5, 2026 with 10% down. Interest takes the largest share, and property tax plus insurance come to 3.21 times the first year's principal. Sources: Census ACS 2024 median home value and real-estate taxes; Freddie Mac Primary Mortgage Market Survey®; Insurify 2026 premium estimate. See Houston against all 12 metros in our mortgage guide
Tracking a move beyond Houston? Every metro profile carries the same FHFA, Census, BLS, and HUD data, refreshed with each release.
Data sources: FHFA House Price Index (ATNHPIUS26420Q), U.S. Census Bureau Building Permits Survey and Population Estimates, BLS Local Area Unemployment Statistics — retrieved from FRED, Federal Reserve Bank of St. Louis. 2BR Fair Market Rent from the U.S. Department of Housing and Urban Development. SunBeltPulse is independent and not affiliated with any of these agencies. Statistics represent metro-area figures and are updated monthly. Not financial or investment advice.