Houston gentrifying faster than other Texas cities, Fed analysis finds ! (Dallas: 2015, rent)

[Jack Lance]

And they say Houston is not doing enough to attract upwardly mobile people to the City core ! Ha!

Houston gentrifying faster than other Texas cities, Fed analysis finds

Neighborhoods near downtown have gentrified faster in Houston than in any other major Texas metropolitan area, according to a recent analysis by the Federal Reserve Bank of Dallas.

Between 2000 and 2015, the median income of the neighborhoods less than three miles to downtown Houston increased by 67 percent, a faster pace of income growth than equivalent neighborhoods in Dallas, which increased by 49 percent; San Antonio, which increased by 39 percent; or Austin, which increased by 65 percent.

https://www.houstonchronicle.com/bus...eadlines# :ok:

[Exult.Q36]

Originally Posted by Jack Lance

And they say Houston is not doing enough to attract upwardly mobile people to the City core ! Ha!

Houston gentrifying faster than other Texas cities, Fed analysis finds

Neighborhoods near downtown have gentrified faster in Houston than in any other major Texas metropolitan area, according to a recent analysis by the Federal Reserve Bank of Dallas.

Between 2000 and 2015, the median income of the neighborhoods less than three miles to downtown Houston increased by 67 percent, a faster pace of income growth than equivalent neighborhoods in Dallas, which increased by 49 percent; San Antonio, which increased by 39 percent; or Austin, which increased by 65 percent.

https://www.houstonchronicle.com/bus...eadlines# :ok:

And this is something to brag about? All this article is really saying is that the COL in Houston core is rising faster than even Austin. So much for the theory that Houston was the cheaper option of the three. But anyway kudos to Houston for such a feat. I guess.

[Jack Lance]

Originally Posted by Exult.Q36

And this is something to brag about? All this article is really saying is that the COL in Houston core is rising faster than even Austin. So much for the theory that Houston was the cheaper option of the three. But anyway kudos to Houston for such a feat. I guess.

It means that the average income of people who live within 3 miles of DT Houston is rising faster in Houston than anywhere else in the state.

[ParaguaneroSwag]

Who’s saying Houston isn’t doing that? Some parts near Downtown, you wouldn’t even recognize if you got warped into from 10 years ago. Midtown and EaDo are two of the most gentrifying places in the nation. Third Ward is next.

[Redlionjr]

Originally Posted by Exult.Q36

And this is something to brag about? All this article is really saying is that the COL in Houston core is rising faster than even Austin. So much for the theory that Houston was the cheaper option of the three. But anyway kudos to Houston for such a feat. I guess.

It’s really nothing to brag about, quite sad actually but umm Houston is still the cheaper of the 3. Gentrifying fasted doesn’t mean the most expensive. I mean Dallas, Austin and San Antonio are still gentrifying so yeah.

[Htown2013]

Midtown "gentrified" 15 years ago, where it became desirable for young professionals. Now those same young professionals would struggle to afford today's rates.

[ParaguaneroSwag]

Originally Posted by Redlionjr

It’s really nothing to brag about, quite sad actually but umm Houston is still the cheaper of the 3. Gentrifying fasted doesn’t mean the most expensive. I mean Dallas, Austin and San Antonio are still gentrifying so yeah.

No, Houston is not cheapest of the 3. If you look at the entire city numbers, the average comes out to Houston being cheaper but that has more to do with Houston covering a large area where COL is cheaper the outer you go. Specifically the East and Northside. Living in central Houston vs Central Dallas is another story where Houston’s COL is higher. But not higher than central Austin

[Redlionjr]

Originally Posted by ParaguaneroSwag

No, Houston is not cheapest of the 3. If you look at the entire city numbers, the average comes out to Houston being cheaper but that has more to do with Houston covering a large area where COL is cheaper the outer you go. Specifically the East and Northside. Living in central Houston vs Central Dallas is another story where Houston’s COL is higher. But not higher than central Austin

So if the entire city of Houston is cheaper than that means IT'S CHEAPER. You can't break it up into central Houston vs. Central Dallas. Majority of Houstonian's live outside the core anyway.

But as of 2020 according to several sites Dallas is STILL HIGHER than Houston.

https://www.numbeo.com/cost-of-livin...2=Dallas%2C+TX

Consumer Prices in Dallas, TX are 4.97% higher than in Houston, TX
Consumer Prices Including Rent in Dallas, TX are 6.63% higher than in Houston, TX
Rent Prices in Dallas, TX are 9.39% higher than in Houston, TX
Restaurant Prices in Dallas, TX are 7.72% lower than in Houston, TX
Groceries Prices in Dallas, TX are 8.52% higher than in Houston, TX
Local Purchasing Power in Dallas, TX is 9.87% higher than in Houston, TX

https://www.bizjournals.com/houston/...es-to-the.html

Moderator cut: link removed, competitor site

Comparison Highlights
- Overall, Houston, Texas is 5.0% cheaper than Dallas, Texas
- Median Home Cost is the biggest factor in the cost of living difference.
- Median Home Cost is 13% cheaper in Houston.

[kemahkami]

Originally Posted by Exult.Q36

And this is something to brag about? All this article is really saying is that the COL in Houston core is rising faster than even Austin. So much for the theory that Houston was the cheaper option of the three. But anyway kudos to Houston for such a feat. I guess.

Another way to look at it is that the core of Houston is revitalizing at a very fast rate. Which is really all gentrification is in a nutshell.

Lack of zoning in Houston helps to limit COL from getting too out of hand.

[jerbear30]

Gentrification is a sign of changing patterns in living preference. Along with that comes a displacement of the folks who have lived in the "gentrified" areas, prior to gentrification. This is often along racial lines, though not always. Where I live in Spring Branch, the gentrification generally involves younger white and brown people with good incomes moving into areas where older working class white people also life. As this change occurs and tax rates go up, the older working class white people have begun to feel the economic pinch. I don't want to complain too much because it brings new businesses that sell cool stuff, but beyond that one economic metric and the townhouse/condo phenomenon, I don't see too much changing. It's foolish to see gentrification as an unqualified good. We have to look at all the angles on a phenomenon like this if we are going to come out a better society.