real talk

This is how much income you need to buy a home in Houston's top neighborhoods

An income of at least $600,000 is required to buy in River Oaks.

The old axiom in real estate was that it was about location, location, location. But in Houston’s hot economy, it might be much more about income, income, income. Just ask Houston Properties realtor Paige Martin, who has released data on her website detailing how much cash you need to bring home every year to afford some of Houston’s hottest neighborhoods.

“On average, the salary requirements to buy a new home increased 7.7 percent from last year,” she tells the Houston Chronicle.

So, let’s break it down. Want to live in River Oaks? You better be banking over $600,000. Is Afton Oaks is calling you? Only if you’re bringing in close to $375,000. And if you want the lovely, quest space of Memorial Park, you need close to half a million per year. Other spots where you need six figures to make it work: Montrose ($172,584), the Museum District ($171,286), and Braeswood Place ($234,686).

Houston Properties examined the annual income needed to purchase a home in 52 Houston neighborhoods, culling their list from several others, including the Best Houston Neighborhood Guide, Top Houston School Rankings, Most Accessible Neighborhoods, and Best Houston Suburbs, and based the income estimates on a 20 percent down payment.

Martin figures the increase in salary requirements needed to buy are based on a couple of factors. The first is that interest rates have increased; the other is that Houston’s neighborhood have appreciated in value this year. Despite all of that, though, Houston’s housing market hasn’t slowed down, and Martin’s findings say the market is on track for a record year.

The takeaway: sure, you can still buy a home in Houston. But be prepared to pay up big if you’re looking for Houston’s more popular enclaves. On the upside, condo-heavy Midtown and downtown can still be had for an income of less than $100,000 ($87,783 and $87,993) respectively. And there are homes to be found in Northside, where you need just over $70,000 to make it work, and further afield in places like Spring ($62,682), Jersey Village ($66,134), and Copperfield ($62,130).

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HAUTE PROPERTIES

675-acre Hill Country ranch where George Strait rehearsed lists for $19.5M

Photo by Michelle Watson CultureMapSnap

George Strait developed his early sound at Lone Woman Ranch.

Lone Woman Ranch, the Hill Country estate where country stars like George Strait, George Jones, and Ace in the Hole Band rehearsed, is up for sale for $19.5 million.

Located 65 miles from San Antonio in Hays County on 675 acres, the secluded ranch once served as an artistic getaway for emerging Texas artists. The property, listed by Olmos Park firm Republic Ranches. is named after the nearby Lone Woman Mountain, and its elevation gives an incredible view of the county. On a clear day, you can see downtown Austin.

The land comes with two residences, both built near the entrance gate. The primary stone house has original hardwood floors, a recently remodeled kitchen and bathrooms, as well as a new HVAC system. The secondary residence was used as a rehearsal space. Both have had long-term residents who made improvements, and both have their own septic systems, wells, and electric meters.

The real appeal of Lone Woman Ranch, however, is the extensive woods, creeks, and natural setting. It is next to 6,000 acres of conservation land, including Storm Ranch. The entire mountain is also included in the property, making it a veritable mini-kingdom for the owner with unobstructed privacy on three sides.

Two ponds are on the site — a 4-acre and a 1-acre — both fully stocked. Runoff from the larger pond creates picturesque seasonal limestone waterfalls.The surrounding woods are full of wildlife, including white-tailed deer, turkeys, doves, and more. The property is under wildlife exemption.

It's little wonder the ranch was a muse to so many country musicians. A network of ranch roads provides access throughout the property, including most of the way up Lone Woman, giving views around every corner. Only Strait can tell you whether his 1996 hit "King of the Mountain" was inspired by the ranch.

Photo by Michelle Watson CultureMapSnap

George Strait developed his early sound at Lone Woman Ranch.

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