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Did you happen to scroll down those listings and look at the property taxes? Nearly twice as much in Houston year-to-year on lower valuations.
The saving grace is that Houston properties, outside of a few already expensive inner loop neighborhoods, generally don't increase in value to the degree that they do in other parts of the country. This keeps taxes relatively in check, but overall, in the Boston example, where the value tends to increase faster and the property taxes are lower, you'd build equity faster and vault yourself into the more expensive realm of the market quicker for your next purchase.
In other words, yes--the price of entry is lower in Houston, which is very appealing to first-time buyers. Houston isn't as attractive of an investment as some places, though, due to high inventory and high property taxes' downward pressure on home values.
I didn't notice the property taxes, but I've heard that about Texas. With no state income tax, and a low tax burden on businesses, cities and town need get revenue some how. And the do so with higher property taxes. Similar situation just north to us in New Hampshire, except they have no sales tax either. Does Houston have a city income tax?
The 210k Boston home linked above (actually diet1's link) is in Hyde Park, one of the outer neighborhoods. You're right, not in the inner loop. Probably about as far from downtown (~8 miles?) as you can get and still be within the city limits.
True, but Boston is 48 square miles and Seattle is 150 Sq miles. If the most urban parts of metro Boston were combined to equal the size of Seattle, all statistics of crime for Boston would plummet to become possibly the safest large city in the nation.
Actually Seattle is about 83 sq miles. All that bs about if Boston's land area were this or that is total bs.
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Originally Posted by Cliff Clavin
I didn't notice the property taxes, but I've heard that about Texas. With no state income tax, and a low tax burden on businesses, cities and town need get revenue some how. And the do so with higher property taxes. Similar situation just north to us in New Hampshire, except they have no sales tax either. Does Houston have a city income tax?
The 210k Boston home linked above (actually diet1's link) is in Hyde Park, one of the outer neighborhoods. You're right, not in the inner loop. Probably about as far from downtown (~8 miles?) as you can get and still be within the city limits.
No, no city income tax in Houston. Sales tax is on the high side at 8.25%, though. I believe 7% is state and 1.25% is city.
With MUD taxes, my effective tax rate in the Houston suburbs was 3.94% In the city it was closer to 3%, which is still absurd.
That is quite nice. I think Boston is the most interesting city of these three. Seattle is the most beautiful. Houston is the most affordable.
If I were picking one, it would be a tough choice between Seattle (I prefer the West Coast) and Boston (I like dense, walkable, older cities). Houston (I've lived there and I get it) wouldn't be in this consideration set unless I couldn't afford the other two.
No not wrong. If Seattle is 150 square miles, then Boston is 90 square miles.
Omfg? He didn't call bs on that! And yes I realize I erred. I like you walrus but you doubled down on stupidity.
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In the city it was closer to 3%, which is still absurd.
