Prime Residential Plot

Prime Residential Plot” is a property-development program located in northwest Houston (Hillsborough) that is in the heart of a multi-ethnic neighborhood. Homes include six units, two condos, and four apartment buildings totaling over 1,000 square feet.
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The study conducted conducted by the Houston Center for American Progress, the nation’s largest real estate research organization, found that a median income of $45,700 a year was more affordable than the median rental home in the rest of Houston, in comparison to $30,300 in the rest of the region. In the northeast, a median annual income of $40,000 was more affordable than the average rental home in the region. In the southeast, home values ranged from $40,000 to $45,000, and home values ranged from $32,000 to $35,000.

Although the majority of the housing projects in the southeast are built in private rental markets, the Houston center found that home prices rose steadily over the past half century. When a community is struggling to meet demand, homeownership levels can rise, and when an affordable and high-quality rental unit is unavailable, homes are sold on a larger scale.

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