Houston First Time Home Buyers Buying Power

Hello again and welcome. According to the Council for Community and Economic Research (C2ER) Cost of Living Index (COLI), Houston was the 2nd most affordable major metro in 24, with overall costs falling 5.8 percent below the U.S. urban average. With adjusted wages, the typical Houston worker's, purchasing power rises to $48,815 per year, which is enough to propel the city into the no. 6 spot. 

This, while many of the nation's largest coastal metros, such as New York, drop in the rankings, once cost-of-living differences were taken into account. True, workers in those regions does tend to earn more, however, their earnings are said to quickly eroded by the high cost of living, that include housing. So while they do earn more, the high cost of living results in far less purchasing power than a typical worker in Houston. Here's a look:)

Greater Houston Partnership

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana