The Texas Real Estate Research Center has issued the following press release:
WASHINGTON – According to the National Association of Realtors (NAR), three Texas cities are among top markets for middle-class households.
NAR identified rising middle-income class housing markets as markets that had the largest increase in the number of middle-class owner-occupied housing units in 2020 compared with 2010. "Middle-income" households are those with income of over 80 to 200 percent of the area median income.
Austin-Round Rock ranked second nationally with 61,323 new middle-income homeowner households from 2010 to 2020. The metro's aggregate housing wealth increased by $45.4 billion.
In the Texas capital, home prices increased $116,629 (57.1 percent) since 2010. Median income increased 7.6 percent to $98,245 in 2020.
Dallas-Fort Worth-Arlington was fourth, adding 53,421 middle-income homeowner households. The metro's aggregate housing wealth grew by $75 billion.
DFW home prices increased $91,427 (59.1 percent) since 2010. Median income increased 5.5 percent to $88,441 in 2020.
Houston-The Woodlands-Sugar Land ranked fifth with 52,716 new middle-income homeowner households. Its aggregate housing wealth grew by $51.5 billion.
Home prices in the Houston area increased $66,674 (46.1 percent) since 2010. Median income increased 2.7 percent to $82,411 in 2020.
No. 32 San Antonio-New Braunfels and No. 39 El Paso were the other two Texas cities in the top 40, adding 12,922 and 10,205 middle-income households, respectively.
Phoenix-Mesa-Scottsdale, Ariz., had the largest increase in middle-class owner-occupied homes, adding 103,690 households in the ten-year period.