Real Estate Investing in Houston, Texas (77002)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 77002 (Houston, TX)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 20.4% of homes vacant — above national norms.
- Declining values: -1.0% 5-year CAGR — values have moved lower.
- 1-year downturn: Values declined 3.5% in the last year.
What’s happening in Houston, TX (77002)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 77002 Houston
The 77002 ZIP covers a section of Houston that demands careful diligence. Prices near $246K look accessible, but the work to make a deal cash flow is real.
The investment case in 77002 is solid only for operators who understand what they are buying. A $246K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Stepping back, 77002 offers a low basis, the region around Houston has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 77002 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. significant returns are possible in 77002, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Houston:
Property Strategy for 77002
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $213,383 | $1,980 | 6.7% | +0.3% | $213,383 |
| 2BR | $320,971 | $2,360 | 5.3% | -0.4% | $160,485 |
| 3BR | $452,741 | $3,170 | 5.0% | +2.9% | $150,914 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 77002 Compare?
| Metric | 77002 | Houston | Houston-The Woodlands-Sugar Land, TX | Texas |
|---|---|---|---|---|
| Home Value | $246,154 | $318,356 | N/A | $297,000 |
| 5-Year CAGR | N/A | 2.6% | N/A | 5.4% |
| Avg Rent | $1,779 | $1,555 | N/A | - |
| Cap Rate | 5.6% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 77002 (Houston, TX). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 77002 (Houston, TX)?
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Property managers serving Harris County
Manage rentals here? List your business →SBB Community Management provides Texas HOA management services, including financial management, property maintenance, and technology solutions, serving Dallas, Fort Worth, and Houston since 1974. summary from their website
KPM Property Management offers end-to-end solutions including pre-acquisition due diligence, on-site property management, and development of townhomes in the Houston area. summary from their website
SBB Community Management provides Texas HOA management services for homeowners associations, condominium associations, and master-planned communities across Dallas, Fort Worth, and Houston. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $246,154 |
| Monthly Rent | $1,779 |
| Price-to-Rent | 11.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.7% |
| Cap Rate | 5.6% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | -3.5% ▼ |
| 3-Year CAGR | -5.2% ▼ |
| 5-Year CAGR | -1.0% ▼ |
| 10-Year CAGR | -0.9% ▼ |
🏠 Rent Trends
| 1-Year | -1.7% ▼ |
| 3-Year CAGR | -0.9% ▼ |
| 5-Year CAGR | -0.7% ▼ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 77002
Population: 19,616
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 77002
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
BLACKSHEAR EL
GREGORY-LINCOLN ED CTR
LOCKHART EL
YATES H S
LOOSCAN EL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 33,841 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are rental rates like in Houston, TX?
Rental rates in Houston, TX average $1,779/mo. Tenant demand and $246K home values make the yield look reasonable by investor standards.
How strong is the working-renter base in Houston, TX?
The renter base in Houston, TX is reasonable for the $1,779/mo price point. Screening well and pricing to market typically yields stable tenants.
What price range are homes in Houston, TX?
The median home value in Houston, TX is roughly $246K. That puts it reasonable relative to the TX statewide average.
Is TX a landlord-friendly state?
The landlord environment in Houston, TX is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Do landlords face vacancy issues in Houston, TX?
Expect elevated vacancy in Houston, TX. Rents at $1,779/mo are absorbed by the tenant base without meaningful lag.
You know 77002 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 77002 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 77002 ranks in Houston-The Woodlands-Sugar Land, TX
Every ZIP in this metro, ranked. Free.
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