Houston housing costs are among the
lowest for major U.S. metropolitan areas.

• Houston historically has enjoyed relatively low housing costs, even during the boom years of the '70s and early '80s.

• The Third Quarter 2002 ACCRA Cost of Living Index shows that Houston's housing costs are about 21 percent below the nationwide average and 46 percent below the average for 29 metro areas of more than 1.7 million population. (ACCRA's Housing Index is based 80.8 percent on homeownership and 19.2 percent on rental occupancy.) Low housing costs are the main reason Houston's overall living costs are 8 percent below the nationwide average for places of all sizes and 23 percent below the large-metro average.

• Even as Houston home values continue to appreciate and the apartment market continues to grow, Houston's housing should remain inexpensive in the context of other major metro areas. Factors contributing to low housing costs include plentiful low-cost land for residential development, minimal weather-related construction delays and minimal delays and costs involved in the permitting and development processes.