Houston, TX – As housing costs continue to soar across Houston, a recent report from the Kinder Institute reveals how this affordability crisis is affecting homeownership in the area.
On Tuesday, local leaders will break ground on new affordable housing complex today in Northwest Houston.
The new complex will be called the Saddle Creek Village, and it will offer amenities like a playground, dog parks, a community clubhouse, and an after-school learning center.
72 units will be equipped with energy-efficient appliances and fixtures, granite countertops, and balconies. The property will be mobility and hearing/vision accessible with several designated mobility and hearing/vision accessible units and a total of four elevators. The property will also be fully fenced with secure entry.
The goal is to support residents and encourage neighborhood connection.
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A new report from the Kinder Institute about the 2024 state of housing in Harris County and Houston, reveals just how pressing the need for affordable housing has become.
The study shows that in 2023, the median home price in Houston hit $335,000, while Harris County’s median was close behind at $315,000.
Since 2018, the affordability gap has expanded by over 50% in Houston, leaving many would-be homeowners priced out.
Meanwhile, neighboring counties like Fort Bend and Montgomery have seen homeownership rates rise much faster than Houston, with new homeowners flocking to these areas in search of more affordable options.
The report also highlights a changing demographic landscape, with an increase in Hispanic and black homeowners in the suburbs and signs of gentrification affecting nearly one in ten Harris County neighborhoods.
The Saddle Creek Village is expected to open in late 2025.