Report: Houston homeownership rate reaches 15-year high

hot on houston

Pandemic or not, homeownership in Houston has broken some records recently. Photo by Ariel Skelley/Getty

Propelled in large part by rock-bottom interest rates for mortgages, the homeownership rate in Houston is knocking on the door of its highest level in at least 10 years.

An August 12 report from the Texas A&M Real Estate Center shows that in the second quarter of 2020, the Houston metro area experienced its highest homeownership rate since the center started recording the regional rate in 2005. The area's homeownership rate was 68.2 percent in the second quarter of this year, up from 65.5 percent in the previous quarter and up from a low of 57.6 percent in the fourth quarter of 2017.

The upward trend mirrors what's happening statewide. In June, Texas' homeownership rate hit a new high mark.

According to the report, a record 67.5 percent of Texans owned their homes in the second quarter of this year, up from 64.5 percent in the first quarter and from the record low of 60.8 percent in the fourth quarter of 1997.

"Despite falling sales in April and May, Texas' second-quarter homeownership rate was the highest since recordkeeping began in 1996. Texas now lags the national rate by only half a percent, the smallest in eight years," James Gaines, the center's chief economist, says in an August 12 release.

Here's how the numbers break down in the state's other large cities:

Among the state's four major metro areas, Austin saw the steepest climb in the homeownership rate. The rate jumped to 65.3 percent during the second quarter of 2020 from 59.4 percent in the previous quarter. Since the real estate center began tracking Austin's homeownership rate in 1996, the highest rate was 69.3 percent in the third quarter of 2006 and the lowest rate was 49.2 percent in the fourth quarter of 1996.

The homeownership rate in DFW hit 64.7 percent in the second quarter of this year. That's up from 62.7 percent in the first quarter of 2020 and slightly below the high mark of 65 percent in the first quarter of 2010. The real estate center started tracking DFW's homeownership rate in 2005.

In the San Antonio area, the second-quarter homeownership rate was sandwiched between its highest-ever and lowest-ever rates since 1996. The rate for this year's second quarter stood at 66.2 percent, up from 66 percent in the previous quarter. Since 1996, the highest rate was 76 percent the fourth quarter of 2004 and the lowest rate was 56.3 percent in the first quarter of 1996.

Spikes in homeownership rates across the state's four major metro areas came despite a recent jump in median sale prices. Real estate platform Zillow reports that as of the end of June, the median sale price of a single-family home was:

  • $256,400 in Houston, up 1.7 percent from the same time a year ago.
  • $246,753 in San Antonio, up 3.8 percent from the same time a year ago.
  • $289,000 in DFW, up 2.3 percent from the same time a year ago.
  • $342,345 in Austin, up 3.7 percent from the same time a year ago.

Gaines says pent-up demand and record-low mortgage rates pushed statewide home sales up 29.4 percent in June.

"Texas homes are selling at a record pace. A dwindling supply of active listings and a resurgence in home sales pulled Texas' months of inventory down to an all-time low of 2.8 months," according to the real estate center's report.

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This article originally ran on CultureMap.

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Houston maritime startup raises $43M to electrify vessels, opens new HQ

Maritime Mission

A Houston-based maritime technology company that is working to reduce emissions in the cargo and shipping industry has raised VC funding and opened a new Houston headquarters.

Fleetzero announced that it closed a $43 million Series A financing round this month led by Obvious Ventures with participation from Maersk Growth, Breakthrough Energy Ventures, 8090 Industries, Y Combinator, Shorewind, Benson Capital and others. The funding will go toward expanding manufacturing of its Leviathan hybrid and electric marine propulsion system, according to a news release.

The technology is optimized for high-energy and zero-emission operation of large vessels. It uses EV technology but is built for maritime environments and can be used on new or existing ships with hybrid or all-electric functions, according to Fleetzero's website. The propulsion system was retrofitted and tested on Fleetzero’s test ship, the Pacific Joule, and has been deployed globally on commercial vessels.

Fleetzero is also developing unmanned cargo vessel technology.

"Fleetzero is making robotic ships a reality today. The team is moving us from dirty, dangerous, and expensive to clean, safe, and cost-effective. It's like watching the future today," Andrew Beebe, managing director at Obvious Ventures, said in the news release. "We backed the team because they are mariners and engineers, know the industry deeply, and are scaling with real ships and customers, not just renderings."

Fleetzero also announced that it has opened a new manufacturing and research and development facility, which will serve as the company's new headquarters. The facility features a marine robotics and autonomy lab, a marine propulsion R&D center and a production line with a capacity of 300 megawatt-hours per year. The company reports that it plans to increase production to three gigawatt-hours per year over the next five years.

"Houston has the people who know how to build and operate big hardware–ships, rigs, refineries and power systems," Mike Carter, co-founder and COO of Fleetzero, added in the release. "We're pairing that industrial DNA with modern batteries, autonomy, and software to bring back shipbuilding to the U.S."

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This article originally appeared on EnergyCapitalHTX.com.

New cancer-fighting nanodrug tops Houston innovation news to know

Trending News

Editor's note: The new year brings big Houston innovation news, from pending retirements to new hires and a cancer-fighting nanodrug. Below are the five most-read InnovationMap stories published January 16-30, 2026:

1. Houston team uses CPRIT funding to develop nanodrug for cancer immunotherapy

Wei Gao (center), a UH assistant professor of pharmacology, and her team have developed Nano-273, which helps the immune system fight pancreatic and lung cancers. Photo courtesy UH.

With a relative five-year survival rate of 50 percent, pancreatic cancer is a diagnosis nobody wants. At 60 percent, the prognosis for lung cancer isn’t much rosier. That’s because both cancers contain regulatory B cells (Bregs), which block the body’s natural immunity, making it harder to fight the enemies within. Newly popular immunotherapies in a category known as STING agonists may stimulate natural cancer defenses. However, they can also increase Bregs while simultaneously causing significant side effects. But Wei Gao, assistant professor of pharmacology at the University of Houston College of Pharmacy, may have a solution to that conundrum. Continue reading.

2. Rice Alliance and the Ion leader Brad Burke to retire this summer

Houston entrepreneurship and innovation leader Brad Burke is set to retire on June 30. Photo by Jeff Fitlow/Rice University

Brad Burke—a Rice University associate vice president who leads the Ion District’s Rice Alliance for Technology and Entrepreneurship and is a prominent figure in Houston’s startup community—is retiring this summer after a 25-year career at the university. Burke will remain at the Rice Alliance as an adviser until his retirement on June 30. Continue reading.

3. 5+ must-know application deadlines for Houston innovators

The University of Michigan's Intero Biosystems earned a top-place finish and the largest total investment from the 2025 Rice Business Plan Competition. Photo courtesy Rice University.

As 2026 ramps up, the Houston innovation scene is looking for the latest groups of innovative startups that'll make an impact. A number of accelerators and competitions have opened applications. See which might be a good fit for you or your venture, and take careful note of the deadlines. Continue reading.

4. Houston startups closed $1.75 billion in 2025 VC funding, says report

Local startups collected $1.75 billion in venture capital in 2025. Photo via Pexels.

Going against national trends, Houston-area startups raised 7 percent less venture capital last year than they did in 2024, according to the PitchBook-NVCA Venture Monitor report. The report shows local startups collected $1.75 billion in venture capital in 2025, down from $1.89 billion the previous year. Continue reading.

5. Baylor College of Medicine names Minnesota med school dean as new president, CEO ​

Baylor College of Medicine has named Dr. Jakub Tolar as its new president, CEO and executive dean. Photo courtesy of Mendel Lectures.

Dr. Jakub Tolar, dean of the University of Minnesota Medical School, is taking over as president, CEO and executive dean of Houston’s Baylor College of Medicine on July 1. Tolar—who’s also vice president for clinical affairs at the University of Minnesota and a university professor—will succeed Dr. Paul Klotman as head of BCM. Klotman is retiring June 30 after leading Texas’ top-ranked medical school since 2010. Continue reading.

Innovative Houston-area hardtech startup closes $5M seed round

fresh funding

Conroe-based hardtech startup FluxWorks has closed a $5 million seed round.

The funding was led by Austin-based Scout Ventures, which invests in early-stage startups working to solve national security challenges.

Michigan Capital Network also contributed to the round from its MCN Venture Fund V. The fund is one of 18 selected by the Department of Defense and Small Business Administration to participate in the Small Business Investment Company Critical Technologies Initiative, which will invest $4 billion into over 1,700 portfolio companies.

FluxWorks reports that it will use the funding to drive the commercialization of its flagship Celestial Gear technology.

"At Scout, we invest in 'frontier tech' that is essential to national interest. FluxWorks is doing exactly that by solving critical hardware bottlenecks with its flagship Celestial Gear technology ... This is about more than just gears; it’s about strengthening our industrial infrastructure," Scout Ventures shared in a LinkedIn post.

Fluxworks specializes in making contactless magnetic gears for use in extreme conditions, which can enhance in-space manufacturing. Its contactless design leads to less wear, debris and maintenance. Its technology is particularly suited for space applications because it does not require lubricants, which can be difficult to control at harsh temperatures and in microgravity.

The company received a grant from the Texas Space Commission last year and was one of two startups to receive the Technology in Space Prize, funded by Boeing and the Center for the Advancement of Science in Space (CASIS), in 2024. It also landed $1.2 million through the National Science Foundation's SBIR Phase II grant this fall.

Fluxworks was founded in College Station by CEO Bryton Praslicka in 2021. Praslicka moved the company to Conroe 2024.

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