around the bend

Fort Bend paves the way for more residential and retail with massive new development

Fort Bend Town Center continues to grow.

Courtesy of NewQuest Properties

Fort Bend County's massive mixed-use development will grow even larger in the coming years. NewQuest Properties announced that it will add 109 acres to Fort Bend Town Square, paving the way for new residential and retail construction.

The new deal, dubbed Phase Three, includes an 86-acre tract that gives NewQuest control of three corners at the intersection of TX 6 and the Fort Bend Parkway. Located approximately 15 miles from the Texas Medical Center, NewQuest's sale of 23-acres to Sueba USA Corp. will pave the way for construction on four, four-story apartment buildings that will feature amenities such as courtyards, walking trails, and swimming pools.

"There are many medical professionals of all ages who want high-end, urban-style units outside the city versus what's historically been available," NewQuest senior associate Andrew Alvis said in a statement. "We plan to fulfill that demand while also putting bodies on the ground to further support our retail, restaurant and entertainment tenants."

Negotiations are underway with potential restaurant and retail tenants for phase three's 200,000 square feet of space. Earlier this month, NewQuest announced that Fort Bend Town Square's phase two would be anchored by a 12-screen Cinemark Theater.

Phase one of the project includes stores such as Kroger and Petco as well as a number of fast food restaurants.

Overall, the three phases cover approximately 180 acres and 1 million square feet, which positions Fort Bend Town Square as a top shopping destination in Missouri City. NewQuest's three phases are being touted as the commercial heart of Missouri City.

"Fort Bend Town Center will be one of the largest mixed-use developments at completion west of the Medical Center," Alvis said.

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rent affordability news

Houstonians need to make nearly $68,000 to afford rent in 2025

Photo courtesy of Dolce Midtown Apartments

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A new rental report from Zillow has revealed Houston renters need to make about 23 percent more money than they did five years ago in order to afford rent in 2025.

Zillow analysts examined the income needed to afford rent in 50 major U.S. metros, and determined rent prices in each city as of April 2025.

The average Houston renter needs to make $67,731 a year to afford living in the city, the report found. To afford rent for a single-family home, the income needed increases even further to $85,017.

Despite Houston's rising rent cost of living, it's still more affordable than many other cities. Nationally, the average income needed for someone to comfortably afford rent comes out to nearly $81,000. The study says that figure has increased nearly 35 percent since 2020.

"Housing costs have surged since pre-pandemic, with rents growing quite a bit faster than wages," said senior Zillow economist Orphe Divounguy. "This often leaves little room for other expenses, making it particularly difficult for those hoping to save for a down payment on a future home. High upfront costs are often overlooked, which can keep renters in their current homes."

Rent prices in Houston averaged $1,693 last month, which is less costly than the national average rent price of $2,024. Additionally, Houstonians are spending about 24 percent of their income on rent, while the typical American spends almost 30 percent of their income on rent.

Renters are also saving hundreds of dollars in comparison to those that own their homes, as a recent SmartAsset study discovered the median monthly housing costs for a Houston homeowner came out to $2,219.

At least we're not living on the East or West Coast, where eight U.S. metros require six-figure incomes to afford rent. Residents in San Jose, California need to make $136,532 a year to afford rent, the highest out of all 50 U.S. cities. Rent prices in San Jose came out to $3,413 in April.

Here's how much money renters need to afford living in other Texas metros, according to Zillow:

Dallas – $71,413
Austin – $68,840
San Antonio – $58,590

zillow housing report rent prices affordability houston