Affordability improves in Houston as 44% of households can afford homeownership

Improved mortgage rates and a slight drop in home prices increased Houston homeownership affordability, with 44% of households able to afford a median-priced home at $337,200. Mortgage rates fell to 6.23%, lowering monthly homeownership costs to $2,280. The required annual income to afford these costs decreased to $91,200, up from 40% affordability the previous year.