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submitted 6 months ago by Amoxtli@thelemmy.club to c/texas@lemmy.world
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[-] Telorand@reddthat.com 15 points 6 months ago

Here is a summary of the data for Texas:

  • Home price-to-income ratio: 4.1
  • Median home price: $298,624
  • Median household income: $72,284
  • 5-year change in median home price: +45.1%
  • Mortgage holders spending >30% of income on housing: 28.9%

For reference, here are the statistics for the entire United States:

  • Home price-to-income ratio: 4.7
  • Median home price: $347,716
  • Median household income: 74,755
  • 5-year change in median home price: +49.2%
  • Mortgage holders spending >30% of income on housing: 27.8%

So the home to price income ratio might be slightly better than the national average, but more people are spending more on their mortgage than the national average. So more people in Texas are more broke than they are on average, so not exactly a win.

[-] protist@mander.xyz 7 points 6 months ago

What also remains unsaid it "Texas" is not a monolith. In this data, houses in Houston, Dallas, and Austin are lumped in with Lamesa, Beaumont, and Nacogdoches, and I'm going to bet the ratios are wildly different in those places

this post was submitted on 09 May 2024
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