The Most Affordable Houston ZIP Codes for Renters
Trying to afford buying a home in Houston is a challenge, especially with current mortgage rates. For those already paying high rent on an apartment or a house, it can be even more difficult. However, there are six Houston ZIP codes where renters can get the most bang for their buck, according to a new study by financial services company CashNetUSA.
Methodology
To find the most affordable ZIP codes to rent in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs using the Zillow Observed Rent Index. ZIP codes where the average annual rental costs required the lowest percentage of median household income were considered the "most affordable."
Houston’s Most Affordable ZIP Codes
Two Houston-area ZIP codes specifically stood out in CashNetUSA’s ranking of the most affordable ZIP codes for renters in America: 77401 in Bellaire (No. 9) and 77094 in the Energy Corridor (No. 12).
Bellaire: 77401
According to the study’s findings, the average monthly cost of a rental in Bellaire comes out to $2,401.25, and the median annual income of a Bellaire household is $210,577. Analysts then calculated that the annual rent of a home in the Bellaire ZIP code only takes up 13.68 percent of a household’s median income, which is the ninth-lowest in the nation.
Energy Corridor: 77094
Meanwhile in Houston’s 77094 ZIP, annual rent costs only represent 13.88 percent of a household’s median annual income. The area – which encompasses the Kingsland Estates, Green Trails, Green Trails Oaks, Windsor Park Estates, Windsor Park Lakes, and Barker neighborhoods – has a median household income of over $168,000, and average rent costs add up to $1,944.58, according to the study.
Most Affordable ZIP Codes in the U.S.
CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household’s median annual income.
Most Affordable Houston ZIP Codes for Renters
CashNetUSA further unveiled the five most affordable ZIP codes across major U.S. cities, including in Houston, Austin, and San Antonio.
Ranking
- 77094 (No. 1 spot citywide)
- 77008 (No. 2), which spans Greater Heights, Houston Heights, Shady Acres, and Lazybrook/Timbergrove
- 77024, which includes four of Houston’s historic Memorial Villages, including Hedwig, Bunker Hill, Hunters Creek, and Piney Point
- 77007 (Washington Avenue Coalition/Memorial Park, Rice Military, and Crestwood/Glen Cove)
- 77345 in Kingwood, which is about 30 miles north of downtown Houston
Conclusion
While buying a home in Houston can be challenging, these six Houston ZIP codes offer more affordable options for renters. With an average annual rent cost of $1,944.58 in the 77094 ZIP, renters can enjoy a more affordable lifestyle without breaking the bank.
FAQs
Q: What is the most affordable ZIP code for renters in the U.S.?
A: The most affordable ZIP code for renters in the U.S. is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household’s median annual income.
Q: What are the most affordable Houston ZIP codes for renters?
A: The top five most affordable ZIP codes for Houston renters are 77094, 77008, 77024, 77007, and 77345.
Q: What are the median household incomes in these Houston ZIP codes?
A: The median household incomes in these Houston ZIP codes are not disclosed in the study, but the report provides information on average rent costs and the percentage of median household income required to pay annual rent.
