Houston's Housing Market is Broken

In a recent podcast episode of Looped In, Nancy Sarnoff and R.A. Schuetz discussed the housing market predictions for Houston in 2023. They talked about how mortgage rates, inventory levels, home prices, and buyer preferences will affect the demand and supply of homes in the city. They also shared some tips for home buyers and sellers in this competitive market. However, they did not address one crucial aspect of the housing market: affordable housing. In this blog post, I will argue that Houston needs more affordable housing options so that low-income households can find safe, decent, and stable places to live.

According to Affordable Housing Online, Houston has 13,334 income-based apartments where households pay rent based on how much they earn. However, there are 37,775 affordable apartments that offer reduced rents to low-income households, which means there is a gap between the supply and demand of affordable housing units. Moreover, nearly half of all Houston residents are considered cost-burdened, meaning they spend more than 30% of their income on housing costs.

This situation has negative impacts on the well-being and economic opportunities of low-income households. For instance, spending too much on rent can leave less money for food, health care, education, and transportation. It can also increase the risk of eviction, homelessness, or displacement due to gentrification. So, Houston needs more low-cost housing options to improve its residents' quality of life and social mobility.

In the end, the cost of housing in Houston is a problem that affects many low-income households. The city needs more low-cost housing options so that everyone can have safe, decent, and stable places to live. Some possible solutions include expanding public housing programs, supporting nonprofit or private initiatives such as New Hope Housing, or advocating for policies that promote inclusionary zoning. As citizens of Houston, we have a responsibility to make our city more equitable and livable for all.

No Bull is the only media outlet that aims for Houstonians in every part of town to live in cozy, secure, and charming communities. As such, No Bull is supported solely by readers like you and corporate sponsorships. If you would like to contribute to urbanism advocacy and coverage in Houston, you can donate here. I’ll be back on Friday with more about our great city.

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