Midtown & Rice Military... (Houston, West: apartment complexes, loft, how much) - Texas (TX) - City-Data Forum

DRoll · 04-22-2009, 09:11 AM

I'm relocating to Houston from Chicago, and have read a lot of comments on this board about Midtown and Rice Military being good places for a young professional to buy a townhouse. I was in Houston last weekend, and to be honest, those areas look run down. Sure, there are some nice houses or townhouses, but there are also a ton of empty lots, teardown houses, overgrown yards, and old strip malls. Am I missing something? I understand they are transitional neighborhoods, but they looked at least 5 years from being really nice. When did those neighborhoods start getting new townhouses? How much longer until those areas turn the corner? Why are townhouses $400k in those areas, I thought Houston was cheap? Or is it only cheap if you're willing to commute a long distance?

theSUBlime · 04-22-2009, 09:33 AM

I think you're talking about the eastern portion of Midtown which isn't very nice, but that area is undergoing gentrification--it takes time. I never got this feeling with Rice Military though. To be honest, Houston has empty lots/overgrown yards in a lot of places because it is largely undeveloped as it is a newer, transitional city.

Houston is not CHEAP if you BUY. Let me repeat: Houston is not CHEAP if you BUY. Cheap applies to the suburbs and even then the property taxes are high. Also, cheap is relative, compared to cities around the same size (ie. Boston, Chicago, San Francisco, etc) it's going to relatively less expensive. However, if you're coming from "middle of nowhere," USA (where most people actually live) it's going to be expensive.

Mr. Krinkle · 04-22-2009, 09:50 AM

You should have seen Midtown and Rice Millitary 10 years ago. Oh...nevermid you wouldn't have seen it because nobody would have dared to live in those areas at the time. These areas have already turned the corner, but still have a ways to go become a true nieghborhood. Personally, I'm not a big fan of the townhouses -I prefer the small victorian house look, but builders don't make money that way.

Sublime is correct, Houston is cheap if you buy in the suburbs.

brownybaby · 04-22-2009, 10:02 AM

Rice Military - been changing quickly for about the past 5 years. Getting better. It rides on the coattalis of Memorial - which has gotten very expensive. You can probbaly find an "Urban Loft" brand house for around $200,000. ( Urban Loft is the name of the builder - more than likely a used one).
Midtown - it has changed quickly. I will never forget riding bikes and accidently going down Valentine street off of West Gray......very frightening in broad daylight. That area is now brick townhomes.

The area is good for recent college grads ( or other professionals) - There are soem areas closer to town that are safe and reasonable prices - but not new homes.......

AK123 · 04-22-2009, 10:39 AM

Quote:

Originally Posted by theSUBlime

Houston is not CHEAP if you BUY. Let me repeat: Houston is not CHEAP if you BUY. Cheap applies to the suburbs and even then the property taxes are high. Also, cheap is relative, compared to cities around the same size (ie. Boston, Chicago, San Francisco, etc) it's going to relatively less expensive. However, if you're coming from "middle of nowhere," USA (where most people actually live) it's going to be expensive.

This is so true. The "cheap" thing is something of a misconception.

And some of those areas of Midtown and Rice Military are in transition. Buy now, and you may make a nice profit come a few years.

DRoll · 04-22-2009, 12:09 PM

Quote:

Originally Posted by AK123

This is so true. The "cheap" thing is something of a misconception.

And some of those areas of Midtown and Rice Military are in transition. Buy now, and you may make a nice profit come a few years.

Thanks for all the advice and comments. I am just worried about buying in one of those areas becuase if I want to sell in 5-7 years, won't there be a new townhouse going up around the corner? Why would somebody buy my 5 year old townhome if they can get a new one in the same area?

And yes, theSUblime, I was mainly talking about Midtown East of Main. I guess there are sections of Rice Military that loked very nice, but if you turn the wrong way or cross one street you run into iffy areas.

modster · 04-22-2009, 02:45 PM

Quote:

Originally Posted by DRoll

Thanks for all the advice and comments. I am just worried about buying in one of those areas becuase if I want to sell in 5-7 years, won't there be a new townhouse going up around the corner? Why would somebody buy my 5 year old townhome if they can get a new one in the same area?

I think this a very valid concern. One of the reasons I personally lean towards single family home as a preference, but it is a very personal decision based on a lot of factors. You will be competing with builders in the Washington Ave corridor for a very long time.

As for Rice Military, when I worked in the area maybe 13 years ago or so, Rice Military was basically a total slum with some town homes that stuck out like sore thumbs among the majority of blight. I have friends that moved from Houston just a couple of years ago and can't believe that Washington Ave is considered the least bit trendy or has any kind of club scene now.

As far as midtown, its current incarnation did not start until 1998. Just over ten years ago there was basically no new construction, no apartment complexes, town homes, etc.

Just a reminder that Houston has no zoning, and that sort of good next to bad comes with the urban territory. You have to learn to embrace it if you want to live in the city. If not, move to one of the master planned communities. It is what it is and either you embrace it or you don't. Specific areas will continue to change, but at the same time, there are components of this city that won't ever change. The block by block adventure of our urban landscape is one of them.

westres1 · 04-22-2009, 03:32 PM

I think you may like the neatnes and deed restrictions offered in Garden Oaks and Oak Forest. Yes it is expensive but it holds value and it doesnt have the crack houses and muffler shops next door to 400,000 dollar homes. Drive thru it and you may like it. Lots of young people also!

Oildog · 04-23-2009, 08:50 AM

I made the same move 7 years ago, and Midtown and RM are quite different today. Both seem to have many townhomes that range from low 200s to high 400s. You can look in the Heights as well.

You will get 2x the space in Houston for the same cost as living in the loop. But property tax is almost 3%...which is close to Ill state income tax.

youngworker · 04-23-2009, 03:03 PM

Also keep in mind that even within blocks of Rice Military, price could vary significantly. If you're on a built out block, the price will probably be higher (as opposed to a place on a block full of rundown houses).

I would also try to stay away from places that are within a block of Washington (especially near bars) as people park all over the neighborhood when they visit these bars. IMO, the best location in RM to be is far away enough from Washington to not be affected by the parking, but close enough to still be able to walk.