There’s no denying that Houston, TX is a cool place.Between it’s booming local economy, legacy of space travel and melting pot population, Houston is doing pretty well for itself. For businesses, entrepreneurs, young graduates — and, you guessed it — real estate investors, Houston is the place to be!
Our TEAM at Memphis Invest began looking for a third market two years ago. Dallas, TX. has been an incredible market for our company over the past few years and continues to perform very well for our clients. For our next step and the growth of our company, we really wanted to stay in a state where we were already licensed, highly familiar with the market and there had to be compelling reasons to open the new office.
What we found in Houston was one of the most dynamic and incredible real estate investing opportunities out there. To give you a better idea of why Houston is the place to be, we’ve done a little digging to uncover some of the most interesting (and relevant) facts about Space City. Some real estate estate related and some not...but, each of these facts helped shape our decision that Houston was the right city at the right time for our company and our investing clients!
8 Great Houston Facts Worth Talking About
First word on the moon
“Houston” was the first word ever uttered on the moon. THAT was the coolest fact I found on Houston and I am not even a space geek! On July 20, 1969 Neil Armstrong made history when he said, "Houston, Tranquility base here. The Eagle has landed.” They don’t call Houston “Space City” for nothing. It’s home to the NASA Astronaut Corps and the Lyndon B. Johnson Space Center.
Home to the first dome
That’s right, sports fans — Houston hosted the nation’s first domed stadium. We tend to take it for granted now. The Astrodome, originally constructed in 1965 as the Harris County Domed Stadium, also became the first stadium to use artificial turf. They call it “astroturf” for a reason.
A foodie hotspot
The New York Times called Houston “one of the country’s most exciting places to eat.” In Houston you’ll find every type of cuisine imaginable from traditional fare to foreign fusions. The people of Houston don’t take their restaurant roster for granted, either — residents eat out more times a week here than anywhere else in the country.
Full of fine arts
The Houston Museum District spans an impressive 1.5 mile radius and includes a total of 19 museums. Their Museum of Fine Arts is among the largest in the country. The Arts are an important cultural factor for a market especially as they pertain to attracting people and companies. Houston is growing like gang busters and the Arts are a huge pull culturally to the area.
Housing is more affordable
Real estate in Houston is just more affordable for everyone. Around 1982, the house price index in Houston differentiated itself from the national averages, remaining far more affordable even to present day. Because of that, Houston wasn’t hit nearly as hard by the most recent recession that devastated real estate markets across the country.
Everything really is bigger
What isn’t bigger in Texas? Not much. Houston boasts the largest livestock show and rodeo, the largest medical center in the world (Texas Medical Center) and is second only to New York City as home to the most Fortune 500 companies. It’s the fourth largest city in the U.S., and the largest in the Southern U.S.
Ranked high in job creation
Jobs are ripe for the picking in Houston. The unemployment rate is significantly under the national rate, coming in second for employment growth among major metropolitan areas in the country. Forbes even ranked Houston third in the U.S. for “Best Places for Businesses and Careers.”
Their economy could compete globally
You read that right. The Gross Area Product (GAP) of Houston outweighed the GDP of several countries, including Austria, Poland and Saudi Arabia. In comparison to national economies, only 21 countries (excluding the United States) have GDPs that outmatch Houston’s GAP. Houston is definitely a Top 5 city in the world when it comes to business competition.
Houston, TX is a city rich in vibrant history and a promising future — one that we think real estate investors would do well to pay attention to! Our plan is to keep growing in the Houston market and we feel Texas will easily grow into our top market. Would you like to read more about getting started investing? We recorded a quick video on the top 11 mistakes to avoid in real estate. You can download a free copy here...