Affordable Housing in Texas: As Home Prices Rise, Homeownership Becomes Less Accessible for Latinos
Since the Great Recession, Hispanic Texans have made progress toward recovering their financial stability. However, for many, homeownership is growing further out of reach and renting is becoming the only option. Since the recession, increases in home prices in Texas has outpaced that of U.S. home prices overall as well as increases in Texans’ household income. While Texas home prices have increased in the last decade, between 2012 and 2017, the median home price soared from about $150,000 to about $230,000. As homeownership options become limited, a new demand for rental housing must be addressed to ensure that all Texans have access to safe, affordable homes.