Many of the same market forces that apply to Dallas hold true for Houston, as well. Many of the big employers headquartered in the area, including Phillips 66, ConocoPhillips, Marathon Oil and Halliburton, are in the oil production or the energy services business.
The area also has plenty of open land to build on, which has kept home prices very reasonable at a median price of $200,000. Even with Trulia factoring in a conservative price appreciation rate for the metro area of about 2.6% over the next seven years -- about average for large metro areas -- buyers will spend 45% less on housing costs than renters. That makes buying a no-brainer for anyone planning to stay for more than a couple of years.
% saved buying: 45%
Median home price : $200,000
Median rent: $1,800
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