Houston's hottest ZIP codes
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Two ZIP codes in Montgomery County had some of the Houston metro's highest jumps in typical home values compared with a year ago, per Zillow data shared with Axios.
Why it matters: Fewer homes on the market kept prices growing in most areas, even as affordability dwindled, according to Zillow chief economist Skylar Olsen.
The big picture: Typical home values rose annually in nearly all major U.S. metros, including Houston, Olsen found.
- In March, the average price of a single-family home throughout the Greater Houston area rose 1.3% year over year to $412,464, and the median price increased 1.6% year over year to $330,000, according to the Houston Association of Realtors.
Zoom in: ZIP codes 77381 and 77382 in The Woodlands saw an 8% rise in typical home values since March 2023, as did 77079 in the Memorial area near the Energy Corridor.
- 77031 in southwest Houston near Fondren and 77479 in Sugar Land saw a 7% increase.
Reality check: Zillow's analysis includes some smaller and rural ZIP codes, where there tend to be fewer, and less expensive, houses.
Between the lines: Growth varies locally because of factors like job opportunities, development and population trends, which impact supply and demand.