bayou city bargain
Houston ranks No. 3 in U.S. for best ‘bang for the buck’ for new homes, says report
In today’s home market, buyers are looking to get the most house for the lowest price. It turns out that in this regard, the Houston metro area delivers one of the biggest bangs for the buck.
A new ranking from residential real estate platform Home Bay puts Houston at No. 3 among the country’s 50 biggest metros on the “most bang for the buck” meter, based on the median price per square foot of a new, single-family home. In 2021, the typical 2,185-square-foot new home in the Houston area cost $359,995, or $167 per square foot, according to Home Bay.
“Examining price per square foot is more important than in the past because housing prices are also outpacing income,” Home Bay says.
Two other Texas metros join Houston in the “most bang for the buck” category:
- No. 5 San Antonio, with a median price of $172 per square foot for a new 2,036-square-foot home costing $349,900.
- No. 8 Dallas-Fort Worth, with a median price of $186 per square foot for a new 2,145-square-foot home costing $399,950.
Memphis, Tennessee, tops the “most bang for the buck” list, with a median price of $92 per square foot. Across the U.S., the median price per square foot stands at $169.
Also in the Home Bay report, Houston appears at No. 5 for the median size of a new single-family home (2,158 square feet at the end of 2021). Two other Texas metros make the top 10 in this category: No. 6 Dallas-Fort Worth (2,145 square feet) and No. 8 Austin (2,100 square feet).
Memphis also leads this list, at 2,630 square feet for the median size of a new single-family home.
Home Bay used data from the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, and Realtor.com to come up with its rankings.
