Making an attempt to afford shopping for a house in Houston is troublesome sufficient with present mortgage charges, and doubly so for those who’re already paying excessive lease on an residence or a home. However there are six Houston ZIP codes the place renters can get essentially the most bang for his or her buck, based on a new examine by monetary companies firm CashNetUSA.
To seek out essentially the most inexpensive ZIP codes to lease within the U.S., analysts in contrast median family incomes by ZIP code to the common annual lease prices utilizing the Zillow Noticed Hire Index. ZIP codes the place the common annual rental prices required the bottom share of median family earnings had been thought of the “most inexpensive.”
Two Houston-area ZIP codes particularly stood out in CashNetUSA’s rating of essentially the most inexpensive ZIP codes for renters in America: 77401 in Bellaire (No. 9) and 77094 within the Power Hall (No. 12).
Based on the examine’s findings, the common month-to-month value of a rental in Bellaire comes out to $2,401.25, and the median annual earnings of a Bellaire family is $210,577. Analysts then calculated that the annual lease of a house within the Bellaire ZIP code solely takes up 13.68 % of a family’s median earnings, which is the ninth-lowest within the nation.
However as Houstonians know all too nicely, Bellaire residents aren’t precisely struggling to pay their lease, seeing as they reside in one of many wealthiest locations in America.
In the meantime in Houston’s 77094 ZIP, annual lease prices solely characterize 13.88 % of a family’s median annual earnings. The world – which encompasses the Kingsland Estates, Inexperienced Trails, Inexperienced Trails Oaks, Windsor Park Estates, Windsor Park Lakes, and Barker neighborhoods – has a median family earnings of over $168,000, and common lease prices add as much as $1,944.58, based on the examine.
CashNetUSA discovered the No. 1 most inexpensive ZIP code for renters nationwide is 66224 in Leawood, Kansas, the place annual lease solely takes a ten.57 % lower out of a family’s median annual earnings.
Elsewhere in Texas, San Antonio’s 78248 ZIP ranked because the No. 4 most inexpensive ZIP code for renters within the U.S., and the No. 1 most inexpensive ZIP code statewide. The North Texas ZIP code 75013 in Allen ranked two spots behind Houston to assert the No. 14 spot nationally.
Probably the most inexpensive Houston ZIP codes for renters
CashNetUSA additional unveiled the 5 most inexpensive ZIP codes throughout main U.S. cities, together with in Houston, Austin, and San Antonio.
Following 77094 (which took the No. 1 spot citywide) is 77008 (No. 2), which spans Higher Heights, Houston Heights, Shady Acres, and Lazybrook/Timbergrove. Hire prices on this ZIP code averaged out to $1,856 per thirty days, the report discovered.
Touchdown within the No. 3 spot is 77024, which incorporates 4 of Houston’s historic Memorial Villages, together with Hedwig, Bunker Hill, Hunters Creek, and Piney Level. The report mentioned common lease within the space comes out to $1,730 per thirty days, which takes up 16.88 % of a family’s median annual earnings.
The remaining high two most inexpensive ZIP codes for Houston renters are positioned in 77007 (Washington Avenue Coalition/Memorial Park, Rice Army, and Crestwood/Glen Cove) and 77345 in Kingwood, which is about 30 miles north of downtown Houston.
