Houston is the 4th best U.S. city for Black professionals, report finds

Black History Month

Houston ranks No. 2 in Texas and 4th nationwide. Photo via Getty Images

In acknowledgement of Black History Month 2024, a new report compiled by Black employees at online rental marketplace Apartment List has ranked Houston the No. 4 best U.S. city for Black professionals.

Apartment List reviewed 76 cities across four major categories to determine the rankings: community and representation; economic opportunity; housing opportunity; and business environment.

Houston earned a score of 63.01 out of a total 100 points, making it the second-highest-ranked city in Texas for Black professionals, behind San Antonio (No. 3).

The city earned top-10 rankings in three out of the four main categories:

No. 3 – Business environment
No. 4 – Community and representation
No. 10 – Economic opportunity
No. 21 – Housing opportunity

Houston is commended for its strong Black business environment and economy, but there is some room for improvement when it comes to housing. Similarly to Apartment List's 2022 report – which also placed Houston at No. 4 – a little less than half (44 percent) of all Black Houston households are spending over 30 percent of their income on housing, which has increased two percent since 2019.

Houston has a larger Black population than San Antonio, at 19 percent, but its Black population share is overall lower than other cities in the top 10.

"Furthermore, the community is well-represented in some critical occupations: 20 percent of teachers are Black, as are 21 percent of doctors," the report said. "Houston is also home to the HBCU Texas Southern University, helping a job market when the median Black income is several thousand dollars above average."

Houston also has the highest rate of Black-owned businesses in the entire state, at 18 percent.

"From the Mitochondria Gallery to Ten Skyncare and Wisdom’s Vegan Bakery, Houston has it all!" the report said.

Here's how Houston stacked up in other metrics:

Black homeownership: 42 percent
Black lawyers: 14 percent
Black managers: 14 percent

Elsewhere in Texas
Texas cities dominated the overall top 10. San Antonio ranked just above Houston, with Dallas (No. 6) and Austin (No. 7) not too far behind.

San Antonio came in less than 2.5 points ahead of Houston with a total score of 65.44 points. The report praised San Antonio's scores across its economic opportunity (No. 2), housing opportunity (No. 7), and community and representation (No. 10). The city ranked No. 20 for its Black business environment.

But like Houston, San Antonio also fell behind in its Black homeownership rates, according to the study.

"While the Black homeownership rate is higher than average at 44 percent, the homeownership gap (Black homeownership rate - non-Black homeownership rate) quite low at -19 percent," the report's author wrote. "Perhaps this could be explained by San Antonio’s overall homeownership rate, which is also lower than the state’s average. Additionally, the lower homeownership gap could explain the cost burden rate also being lower than average at 41 percent."

The top 10 cities for Black professionals are:

No. 1 – Washington, D.C.
No. 2 – Atlanta, Georgia
No. 3 – San Antonio, Texas
No. 4 – Houston, Texas
No. 5 – Palm Bay, Florida
No. 6 – Dallas, Texas
No. 7 – Austin, Texas
No. 8 – Colorado Springs, Colorado
No. 9 – Lakeland, Florida
No. 10 – Charlotte, North Carolina

The full report and its methodology can be found on apartmentlist.com.

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This article originally ran on CultureMap.

A new report finds that Houston is a top city for Black professionals. Photo via Getty Images

Houston ranked among best metros for Black professionals

inclusive ecosystem

A WalletHub study released in 2021 crowned Houston the most diverse city in the U.S. So it shouldn't really come as a surprise that Bayou City ranks among the country’s best cities for Black professionals.

A new ranking compiled by Black employees at Apartment List puts Houston at No. 4 among the best cities for Black professionals. The Apartment List employees judged 82 cities in four categories:

Business environment for Black professionals. Houston ranks third.
Black community and representation. Houston ranks fourth.
Economic opportunities for Black professionals. Houston ranks seventh.
Housing opportunities for Black professionals. Houston ranks 20th.

Apartment List combined the scores in each of those categories to come up with an overall score for each city. Houston’s final score was 63.8, with 100 being the highest possible score. The company released the ranking in conjunction with Black History Month.

Apartment List lauds Houston’s showing in three of the four categories, but dings the city for its relatively low score for housing opportunities. The website points out that 42 percent of black households in Houston spend more than 30 percent of their income on housing.

In praising Houston’s environment for Black professionals, Apartment List cites the city’s large Black population (22.6 percent), its representation in critical occupations (about one-fifth of teachers and doctors are black), and the presence of Texas Southern University, an HBCU. Furthermore, Apartment list notes that a big share of Houston businesses are black-owned.

In 2016, Black Enterprise magazine dubbed Houston the country’s “Next Great Black Business Mecca.”

In a 2019 post on Medium, digital marketer and Los Angeles native Shameen Yakubu placed Houston at No. 2 on his list of the six cities he’d considered moving to as a Black professional. (San Antonio topped his list, and his LinkedIn profile indicates he now lives there.) Yakubu cited Houston’s large Black population, diversity, and affordability as some of the factors in the city’s favor.

“One of the things that [attracts] me to Houston is the number of [Black] professionals and entrepreneurs. Texas, in general, is a very pro-business state,” Yakubu wrote.

Three other Texas cities join Houston in Apartment List’s top 10:

San Antonio, No. 3, final score of 66.08.
Dallas, No. 5, final score of 60.6.
Austin, No. 9 (tie), final score of 57.1.

In descending order, here are the top 10 cities for Black professionals, according to Apartment List:

Washington, D.C.
Atlanta
San Antonio
Houston
Dallas
Raleigh, North Carolina
Lakeland, Florida
Orlando, Florida
Austin (tie)
Baltimore (tie)

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Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Houston researcher builds radar to make self-driving cars safer

eyes on the road

A Rice University researcher is giving autonomous vehicles an “extra set of eyes.”

Current autonomous vehicles (AVs) can have an incomplete view of their surroundings, and challenges like pedestrian movement, low-light conditions and adverse weather only compound these visibility limitations.

Kun Woo Cho, a postdoctoral researcher in the lab of Rice professor of electrical and computer engineering Ashutosh Sabharwal, has developed EyeDAR to help address such issues and enhance the vehicles’ sensing accuracy. Her research was supported in part by the National Science Foundation.

The EyeDAR is an orange-sized, low-power, millimeter-wave radar that could be placed at streetlights and intersections. Its design was inspired by that of the human eye. Researchers envision that the low-cost sensors could help ensure that AVs always pick up on emergent obstacles, even when the vehicles are not within proper range for their onboard sensors and when visibility is limited.

“Current automotive sensor systems like cameras and lidar struggle with poor visibility such as you would encounter due to rain or fog or in low-lighting conditions,” Cho said in a news release. “Radar, on the other hand, operates reliably in all weather and lighting conditions and can even see through obstacles.”

Signals from a typical radar system scatter when they encounter an obstacle. Some of the signal is reflected back to the source, but most of it is often lost. In the case of AVs, this means that "pedestrians emerging from behind large vehicles, cars creeping forward at intersections or cyclists approaching at odd angles can easily go unnoticed," according to Rice.

EyeDAR, however, works to capture lost radar reflections, determine their direction and report them back to the AV in a sequence of 0s and 1s.

“Like blinking Morse code,” Cho added. “EyeDAR is a talking sensor⎯it is a first instance of integrating radar sensing and communication functionality in a single design.”

After testing, EyeDAR was able to resolve target directions 200 times faster than conventional radar designs.

While EyeDAR currently targets risks associated with AVs, particularly in high-traffic urban areas, researchers also believe the technology behind it could complement artificial intelligence efforts and be integrated into robots, drones and wearable platforms.

“EyeDAR is an example of what I like to call ‘analog computing,’” Cho added in the release. “Over the past two decades, people have been focusing on the digital and software side of computation, and the analog, hardware side has been lagging behind. I want to explore this overlooked analog design space.”

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