Texas housing is considered “affordable” (whatever that means).
For example, of the 30 metropolitan areas included in a recent Business Week study, three Texas cities were considered “undervalued” – Houston, Dallas, and San Antonio.
However, I just found this interesting bit of information, from the Inman News blog.
(Although) home prices in Texas are affordable, HAR says, ownership levels lag four points behind the rest of the U.S. at only 65 percent versus the national average of 69 percent, ranking Texas 45th in the country for homeownership, according to the U.S. Census.
So, although home prices are lower in Texas, less people own there.
You didn’t expect that, did you?
(N.B. This just illustrates the point that home prices are just one of several reasons people choose to buy vs. rent. In this case, it appears that high property taxes are to blame for low homeownership, at least according to the story.)
More details: Property tax reduction rally planned in Texas – The Inman News Blog