Housing dominates Loop 610 taking up one-third of the land use types within its boundaries. Houston’s housing market has benefitted from having few physical boundaries and undeveloped land in outlying areas which to expand into. Some experts believe this has kept housing prices low. According to the Houston Association of Realtors (HAR), the City of Houston’s median price (the figure at which half of the homes sold for more and half sold for less) ended 2010 at $152,500. It has since climbed to $165,000 by the fall of 2012.
Did you know?
- Single-family and multi-family makes up 38% of the land use inside Loop 610.
- Single-family permits peaked just above 2,500 in 2006. 2006 marked the year the housing market was officially “down” and permits slid to approximately 75 in 2009 and but experienced a slight increase to 100 in 2010.
- Multi-family permits hit a high of 260 in 2007 followed by a steep decline to just under 25 permits in 2009. A small increase was seen in 2010 when 60 permits were issued.
- Approximately half of the City of Houston’s multi-family development since 2010 has occurred inside Loop 610.
- The bulk of multi-family permits were issued in Third Ward, Fourth Ward and the Midtown areas.