Telorand, 1 month ago

Here is a summary of the data for Texas:

• Home price-to-income ratio: 4.1
• Median home price: $298,624
• Median household income: $72,284
• 5-year change in median home price: +45.1%
• Mortgage holders spending >30% of income on housing: 28.9%

For reference, here are the statistics for the entire United States:

• Home price-to-income ratio: 4.7
• Median home price: $347,716
• Median household income: 74,755
• 5-year change in median home price: +49.2%
• Mortgage holders spending >30% of income on housing: 27.8%

So the home to price income ratio might be slightly better than the national average, but more people are spending more on their mortgage than the national average. So more people in Texas are more broke than they are on average, so not exactly a win.