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    hot on houston

    Houston homeownership rate rockets to 15-year high, says report

    John Egan
    Aug 18, 2020 | 9:30 am
    Home for sale sold sign
    Texas' homeownership rate has hit a new high mark.
    Photo by Ariel Skelley/Getty

    Propelled in large part by rock-bottom interest rates for mortgages, the homeownership rate in Houston is knocking on the door of its highest level in at least 10 years.

     

    An August 12 report from the Texas A&M Real Estate Center shows that in the second quarter of 2020, the Houston metro area experienced its highest homeownership rate since the center started recording the regional rate in 2005. The area’s homeownership rate was 68.2 percent in the second quarter of this year, up from 65.5 percent in the previous quarter and up from a low of 57.6 percent in the fourth quarter of 2017.

     

    The upward trend mirrors what's happening statewide. In June, Texas' homeownership rate hit a new high mark.

     

    According to the report, a record 67.5 percent of Texans owned their homes in the second quarter of this year, up from 64.5 percent in the first quarter and from the record low of 60.8 percent in the fourth quarter of 1997.

     

    “Despite falling sales in April and May, Texas’ second-quarter homeownership rate was the highest since recordkeeping began in 1996. Texas now lags the national rate by only half a percent, the smallest in eight years,” James Gaines, the center’s chief economist, says in an August 12 release.

     

    Here's how the numbers break down in the state's other large cities:

     

    Among the state’s four major metro areas, Austin saw the steepest climb in the homeownership rate. The rate jumped to 65.3 percent during the second quarter of 2020 from 59.4 percent in the previous quarter. Since the real estate center began tracking Austin’s homeownership rate in 1996, the highest rate was 69.3 percent in the third quarter of 2006 and the lowest rate was 49.2 percent in the fourth quarter of 1996.

     

    The homeownership rate in DFW hit 64.7 percent in the second quarter of this year. That’s up from 62.7 percent in the first quarter of 2020 and slightly below the high mark of 65 percent in the first quarter of 2010. The real estate center started tracking DFW’s homeownership rate in 2005.

     

    In the San Antonio area, the second-quarter homeownership rate was sandwiched between its highest-ever and lowest-ever rates since 1996. The rate for this year’s second quarter stood at 66.2 percent, up from 66 percent in the previous quarter. Since 1996, the highest rate was 76 percent the fourth quarter of 2004 and the lowest rate was 56.3 percent in the first quarter of 1996.

     

    Spikes in homeownership rates across the state’s four major metro areas came despite a recent jump in median sale prices. Real estate platform Zillow reports that as of the end of June, the median sale price of a single-family home was:

     
       
    • $256,400 in Houston, up 1.7 percent from the same time a year ago.
    •  
    • $246,753 in San Antonio, up 3.8 percent from the same time a year ago.
    •  
    • $289,000 in DFW, up 2.3 percent from the same time a year ago.
    •  
    • $342,345 in Austin, up 3.7 percent from the same time a year ago.
    •  
     

    Gaines says pent-up demand and record-low mortgage rates pushed statewide home sales up 29.4 percent in June.

     

    “Texas homes are selling at a record pace. A dwindling supply of active listings and a resurgence in home sales pulled Texas’ months of inventory down to an all-time low of 2.8 months,” according to the real estate center’s report.

     

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    millennial movers

    More millennials bought homes in Houston than any other city in 2024

    Amber Heckler
    Jul 14, 2025 | 5:15 pm
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    Houston is turning into a haven for millennial homebuyers, a new SmartAsset housing study has found. Nearly 62,000 millennials purchased homes in the Bayou City in 2024.

    The report, "Where Millennials Are Buying Homes – 2025 Study," analyzed mortgage origination data across 41 of the largest U.S. metros, ranking them based on the percentage of local people aged 25-44 who purchased a home in 2024. As a note, the study only observed conventional mortgages and not FHA, USDA, or VA loans.

    The findings show more millennials bought homes in Houston-Pasadena-The Woodlands than in any other U.S. metro last year, totaling 61,826 originated mortgages.

    "This was the highest raw number of new Millennial homeowners nationwide, outranking metros like New York City and Los Angeles, which have much larger total populations," the report's author wrote.

    For additional context, that's nearly 6,100 more mortgages than Dallas-Fort Worth-Arlington, which had the second-highest number of millennial home purchases nationwide in 2024.

    The median property value of a Houston-area home purchased by a millennial in 2024 came out to $345,000, and the median income of a millennial homeowner was $124,000, according to the report.

    Despite the vast number of millennials that bought homes in Houston last year, it only accounted for 2.85 percent of all local residents within the 25-44 age bracket. Furthermore, Houston-Pasadena-The Woodlands placed 27th in the report's ranking of U.S. metro areas with the highest percentage of millennials who purchased homes in 2024.

    The No. 1-ranking metro was Raleigh-Cary, North Carolina with 4.5 percent of local millennials securing a mortgage last year. However, that percentage only represented 19,735 mortgages originated in 2024.

    SmartAsset said U.S. metros with a high rate of millennial homebuyers may show desirability within the area's job market, housing market, and its local economy.

    "In some places, 1 in every 25 residents between the ages of 25 and 44 purchased a home with a conventional mortgage just in 2024 alone," the study said. "In other major metros, less than 1 in 100 Millennial-aged residents last year. This disparity can cause divergent implications for local infrastructure, politics, and business demand among different metros."

    Here's how many mortgages that were secured by millennials in Texas' other major metros in 2024:

    • Dallas-Fort Worth-Arlington – 55,732 mortgages
    • Austin-Round Rock-San Marcos – 27,196 mortgages
    • San Antonio-New Braunfels – 26,337 mortgages
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