It Pays Off

The luckiest homebuyers in the Houston area live in these 6 neighborhoods

The luckiest homebuyers around Houston live in these 6 neighborhoods

News_West University Place
According to a study by real estate site Zillow, the Houston-area's 'luckiest' homebuyers live in West University Place and purchased their home in May 2007. Courtesy credit

A new study has identified exactly where the Houston-area's "luckiest" homebuyers call home.

The study, conducted by real estate site Zillow, identifies being "lucky" as buying a house in the right area at the right time — potentially during the lowest point in the housing crisis — and subsequently having the highest appreciation growth on their home.

 The study identifies being "lucky" as buying a house in the right area at the right time — potentially during the lowest point in the housing crisis — and subsequently having the highest appreciation growth on their home. 

According to Zillow, the Houston-area's luckiest homebuyers live in West University Place and purchased their home in May 2007. With a value growth of 71.8 percent, a home purchased at that time for $589,100 is now worth $1,012,300. The area features a value growth rate more than 20 percentage points higher than others included on the list, and the current value of a home purchased in the area in May 2007 is also more than $750,000 higher than any other included area's 'luckiest' current value.

The area's second luckiest homebuyers live in Spring, located north of Houston, and purchased their home in April 2012. With a value growth of 50 percent, a home purchased at that time for $81,000 is now worth $121,500.

Coming in third for the area's luckiest homebuyers are people who live in Jersey Village and purchased their home in January 2006. With a 49.2 percent value growth rate, a home purchased at that time for $168,200 is now worth $250,900.

Other areas included on the list for the luckiest homebuyers were Hockley (No. 4 for homes purchased in May 2012), Cloverleaf (No. 5 for homes purchased in December 2011) and Humble (No. 6 for homes purchased in October 2012). Purchase values in these areas ranged from $87,300 to $114,700 and current values ranged from $120,700 to $165,300.

Nationwide, eight of the Top 10 cities for the luckiest home buyers are in California, led by Palo Alto, with 105 percent growth in value.