Attempting to afford shopping for a house in Houston is tough sufficient with present mortgage charges, and doubly so in case you’re already paying excessive hire on an residence or a home. However there are six Houston ZIP codes the place renters can get probably the most bang for his or her buck, based on a new research by monetary companies firm CashNetUSA.
To seek out probably the most inexpensive ZIP codes to hire within the U.S., analysts in contrast median family incomes by ZIP code to the typical annual hire prices utilizing the Zillow Noticed Lease Index. ZIP codes the place the typical annual rental prices required the bottom share of median family revenue have been thought of the “most inexpensive.”
Two Houston-area ZIP codes particularly stood out in CashNetUSA’s rating of probably the most inexpensive ZIP codes for renters in America: 77401 in Bellaire (No. 9) and 77094 within the Vitality Hall (No. 12).
In line with the research’s findings, the typical month-to-month price of a rental in Bellaire comes out to $2,401.25, and the median annual revenue of a Bellaire family is $210,577. Analysts then calculated that the annual hire of a house within the Bellaire ZIP code solely takes up 13.68 p.c of a family’s median revenue, which is the ninth-lowest within the nation.
However as Houstonians know all too properly, Bellaire residents aren’t precisely struggling to pay their hire, seeing as they reside in one of many wealthiest locations in America.
In the meantime in Houston’s 77094 ZIP, annual hire prices solely characterize 13.88 p.c of a family’s median annual revenue. 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 revenue of over $168,000, and common hire prices add as much as $1,944.58, based on the research.
CashNetUSA discovered the No. 1 most inexpensive ZIP code for renters nationwide is 66224 in Leawood, Kansas, the place annual hire solely takes a ten.57 p.c lower out of a family’s median annual revenue.
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.
Essentially 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 Larger Heights, Houston Heights, Shady Acres, and Lazybrook/Timbergrove. Lease 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 hire within the space comes out to $1,730 per thirty days, which takes up 16.88 p.c of a family’s median annual revenue.
The remaining high two most inexpensive ZIP codes for Houston renters are positioned in 77007 (Washington Avenue Coalition/Memorial Park, Rice Navy, and Crestwood/Glen Cove) and 77345 in Kingwood, which is about 30 miles north of downtown Houston.
