According to a recent report from CoreLogic, a leading provider of real estate data, the millennial homebuyer share rose to its highest level in 2022. With millennials being such a large portion of the population within Houston’s Harris County, this trend likely carried on in our market.
Coming off last year’s insights into the market for Houston millennials, Douglas Elliman agent Harris Benson shares his thoughts on neighborhoods millennials should consider in 2023.
For millennials on the homebuying hunt within Houston in 2023, here are five close-in neighborhoods Benson suggests you check out:
Shady Acres
Looking for the Heights, but don’t mind vertical living? Shady Acres is located in the northwest corner of the Greater Heights area, just west of Shepherd. This area has exploded over the recent years with tons of new bars and restaurants, which has been a major draw for those looking to move there.
Of course, there are always exceptions, but the majority of homes in this area are two-to-four-story townhomes (both detached and attached) built in the last 20 years (and some more recently), with prices typically falling in the high $300s to mid-$500s range.
This well-established area is a natural landing point for millennial first-time homebuyers seeking location and walkability.
Oak Forest East
Want to be near the hustle and bustle of the Heights, but need more space? Oak Forest East is located just north of the Heights, outside the 610 Loop and east of TC Jester Boulevard. Millennial homebuyers look to this area for its location as well as the highly regarded elementary schools.
Though there are some townhome opportunities in the $400-500s, the majority of homes in this area are either Craftsman or ranch-style homes built in the 1900s, or larger homes built over the last 10-15 years.
Depending on the size and remodel status, the older homes typically sell between $350-600K, with some being sold at “lot value.”
Many of these lot-value homes have already been developed into large single-family homes selling in the lower to mid-$1M price point.
Washington Terrace
Want to live in a charming but updated home from the 1900s, or looking to remodel one yourself? Houston’s Third Ward is located within the 610 Loop, just east of Highway 288 and the Texas Medical Center, and Washington Terrace is a subdivision within it, located west of Ennis Street between Blodgett and Alabama Streets.
Within Washington Terrace, you will mostly find beautiful Craftsman and Prairie-style homes from the early 20th century. Most homes are single-family, however there are a good number of homes that have been converted into two-to-four-unit multi-family homes that could be converted back into single-family residences.
Depending on if the home has been remodeled, prices typically fall in the $300-500s. This area will continue to appreciate due to its central location and proximity to the medical center, especially those homes that have been remodeled well.
Meyerland
This area made the list in 2022, and is back again because it’s a great area for millennial families who are looking for more property, mature trees, and charming, midcentury, ranch-style homes.
Meyerland is located just outside the 610 Loop in southwest Houston, with manageable commute times to central Houston, the Texas Medical Center, and Galleria.
There are recently built homes in more luxury price points; however, the majority of homes in this area were built in the mid-1900s and are priced between the mid-$300s to mid-$500s, depending on size and quality of updates.
It's a highly recommended area for those looking to be close to town and still enjoy quality elementary school options.
Lindale Park
Looking to live inside the 610 Loop in an area without townhomes? Lindale Park is located within Houston’s Northside, just east of the Heights and across Highway 45 between Fulton Street and Irvington, just north of Cavalcade Street inside the 610 Loop.
With strict lot size restrictions in place, you will not see recently built townhomes or detached townhome-style dwellings here.
Instead, you’ll find a variety of homes, most of which were built in the early to mid-1900s but with some new construction in the mix.
Depending on the quality of the remodel, homes in this area typically fall between mid-$200s to mid-$500s, whereas more recent construction falls in the $700-$800s. Millennials seeking a bit of charm in a good location should look here.
Houston is filled with so many different areas to explore, each with something to offer to millennials on the hunt. With this in mind, it's easy to feel optimistic in 2023 about finding a home that fits your specific wants and needs — the key is to explore, educate yourself, and remain patient with the process.
If you are just getting started or are looking to learn a little more about different areas of Houston, be sure to contact Harris Benson to help to guide you in the right direction.
Photo by TK Images
Millennial homebuyers love the larger lots with mature trees, ranch-style homes, and highly regarded elementary schools of Meyerland.
