77049, Houston, TX

Houston, TX is one of the most popular and diverse cities in the United States. With a population of over 2 million people, Houston is home to a variety of different cultures and religions. The city has a strong economy with many Fortune 500 companies based in Houston.

The 77049 zip code is located in southeast Houston and includes neighborhoods such as Sharpstown, Alief, and Greenspoint. Home prices in this zip code have increased significantly over the past few years due to strong demand from buyers and limited supply of homes available for sale. As of September 2017, the median home price in 77049 was $269,000. This represents an increase of more than 50% from the median home price in 2009 ($158,000).

One reason for this increase in home prices is that Houston has experienced rapid population growth over the past few years. According to The Texas Tribune, “ Houston’s population grew by 1 percent last year — its fastest rate since 2007 — according to estimates released Wednesday by the U.S. Census Bureau” (Lopez-Pierre 2016). This growth has led to increased demand for housing throughout Houston, including in the 77049 zip code.

Another factor contributing to increases in home prices in 77049 is low inventory levels relative to demand. As of September 2017 there were only 116 homes available for sale within this zip code compared to 1,527 homes that were sold during the same period last year (Zillow). This limited availability has driven up prices as potential buyers are forced into bidding wars for available homes.