Texas is the No. 1 destination for Gen Zers on the move, study says

by the numbers

According to a new report that identifies the Top 10 states to which Gen Zers are moving, Texas was the runaway winner. Photo via Getty Images

A new population analysis by real estate marketplace Zillow has pegged the Lone Star State as the No. 1 destination for adults born between 1996 and 2004 – also known as Gen Z.

Using data from the 2022 U.S. Census Bureau, the report identifies the Top 10 states to which Gen Zers are moving, and Texas was the runaway winner – far outranking No. 2 destination, California, with 76,805 Gen Z movers, versus California's 43,913.

Reasons for moving vary, but the report says young adults from 18 to 24 years old may prefer to live in states with high performing job markets, especially in a place like San Antonio where one of the nation's top employers resides. San Antonio is also a great place for remote work, according to estimations by Forbes.

Favorable weather also may play a factor in the high migration of Gen Z'ers, the report suggests. Texas' mostly year-round sunshine makes it more attractive to younger crowds who are looking for fun activities around the state, not to mention the advantageous impact on dating opportunities.

Other top states with high influx of Gen Z movers include Washington (No. 5), which added over 33,500 Gen Z movers in 2022, and Colorado (No. 6) with less than 31,000 new Gen Z residents.

Their least favorite destination was Michigan, and the Northeast also ranked poorly, with four New England states – Vermont, Rhode Island, New Hampshire, and Maine – all in the bottom 10.

State with a high cost-of-living like Washington, Colorado, and Virginia (No. 7) are places where young adults are more likely to have a bachelor's degree, work in tech, or serve in the military, according to Zillow principal population scientist Edward Berchick.

However, becoming a homeowner is much more difficult, as the report found 77 percent of the Gen Z workers in these states are renters.

"Gen Z movers are likely drawn to the job opportunities in these states, despite the higher costs of housing," Berchick explains. "They may also be in a stage of life where they're willing and able to be flexible in their standards of living while starting their careers."

The top 10 states for Gen Z movers are:

  • No. 1 – Texas
  • No. 2 – California
  • No. 3 – Florida
  • No. 4 – North Carolina
  • No. 5 – Washington
  • No. 6 – Colorado
  • No. 7 – Virginia
  • No. 8 – Illinois
  • No. 9 – Georgia
  • No. 10 – Arizona

The full report can be found on zillow.mediaroom.com.

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This article originally ran on CultureMap.

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

Report: Houston homeownership rate reaches 15-year high

hot on houston

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.

In Houston, you can get the most house for the buck among the country's biggest metro areas. Photo by TK Images

Houston boasts the best home values among major U.S. metros, according to new report

The price is right

In Houston, you can get the most house for the buck among the country's biggest metro areas, a new study shows.

The study, recently published by Austin-based online insurance marketplace The Zebra, indicates you can purchase a 1,935-square-foot home in the Houston metro area at the U.S. median sale price. In 2019, that price was $239,900, according to Zillow data analyzed by The Zebra.

The study calculated how much square footage you can afford in the 10 largest metros in the U.S., based on Zillow's calculations for median home price per square foot.

In 2019, the median price of a single-family home in the Houston area was $245,800, up from $238,800 in 2018, according to the National Association of Realtors. A record 86,205 single-family homes were sold across the Houston area in 2019, up 4.8 percent from the previous record of 82,229 in 2018, the Houston Association of Realtors says.

"It's great to see Houston at the top of this study, as the Bayou City has been one of the most of the most affordable cities in the United States," says Paige Martin, leader of the Houston Properties Team at Keller Williams Realty. "The Houston metro area is adding more residents each year than the entire population of Pittsburgh. A big reason for that is the cost of living is so much lower than other major cities in the U.S."

In terms of large houses, Martin continues to see high demand for bigger properties from a lot of homebuyers, particularly millennials and Generation Y members.

"These homebuyers typically grew up in smaller homes than what they're seeking now," she says, "and they're drawn to the benefits of every child having their own bedroom, designated play areas, and large and expansive kitchens for family gatherings and entertainment."

"Fortunately, Houston can accommodate this," Martin adds, "as the city is blessed with so many top-ranked suburbs that have low land costs."

Meanwhile, Dallas is No. 3 on the list. In 2019, the median price of a single-family home in Dallas-Fort Worth was $268,000, up from $260,000 the previous year, according to the National Association of Realtors. In a report covering January 2020, the MetroTex Association of Realtors said year-over-year sales of single-family homes were up 21 percent, while the total dollar volume climbed 32 percent to nearly $1.98 billion.

In December, Realtor.com predicted home prices in Dallas-Fort Worth would decline 0.5 percent this year compared with 2019.

"The North Texas housing market has come off of several record-breaking years," Cathy Mitchell, 2019 president of the MetroTex Association of Realtors, said in December. "A slight self-correction in the market compared to what we have experienced the last few years was expected and could prove to be beneficial in balancing our market with more quality inventory."

In The Zebra's study, here's how the mega-metros stack up in terms of how much square footage you can purchase at the U.S. median home price:

1. Houston, 1,935 square feet
2. Atlanta, 1,817 square feet
3. Dallas-Fort Worth, 1,726 square feet
4. Philadelphia, 1,589 square feet
5. Chicago, 1,463 square feet
6. Miami, 1,043 square feet
7. Washington, D.C., 1,012 square feet
8. Boston, 789 square feet
9. Los Angeles, 540 square feet
10. New York City, 361 square feet

"New York, L.A., and Boston may not be enough elbow room for you, but Houston, Atlanta, and Dallas will get you the most bang for your buck," The Zebra says.

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This article originally ran on CultureMap.

A new service from Zillow helps Houston sellers get cash fast. Photo courtesy of HAR

Houston homeowners first in Texas to showcase Zillow's new cash offer homebuying program

Selling solution

Local car owners looking to rid themselves of their ride know the no-hassle ease that CarMax and TrueAuto offer. But what about those looking to quickly unload their home? Fortunately, a new service has made it easier for homeowners to score some fast funds from their domiciles.

Houstonians can now use a new program from real estate marketplace Zillow to sell their home. With Zillow Offers, local sellers can request a free, no-obligation cash offer. Once the seller accepts, they can pick a close date that works best for them.

The idea is to give consumers more control and certainty in the home-selling process and allows sellers the opportunity to sell their house on their own timeline, according to a statement. Zillow notes that timing the sale of a home with the purchase of a new one is a top concern for sellers and that 61 percent of sellers are buying a new home at the same time, which adds significant stress and financial complexity to the process.

Houston is the first Texas market and the seventh market nationwide where Zillow directly buys homes, prepares them for showings, and quickly lists them for resale.

Zillow Offers is currently available in Phoenix; Las Vegas; Atlanta; Denver; Charlotte, North Carolina; and Raleigh, North Carolina. Zillow Offers has also announced plans to launch in Dallas; Miami; Minneapolis; Orlando, Florida; Portland, Oregon; Nashville, Tennessee; Riverside, California by fall 2019.

"Texas is home to some of the largest and most vibrant housing markets in the country, and we're thrilled to bring Zillow Offers to Houston today," says Zillow brand president, Jeremy Wacksman, in a statement. "In just nine months, Zillow Offers has already helped thousands of homeowners sell their home in a simple and stress-free way."

While direct-sell in theory, local real estate agents are still very much part of the Zillow Offers process. The service works with local agents and brokers on every transaction and pays commission to agents when it buys and sells each home, according a Zillow release.

"What we've overwhelmingly heard from these consumers is that they love the control we give them over the entire process," Wacksman says. "Starting today, Houston-area homeowners are able to use this innovative, consumer-first service for one of the largest financial transactions of their lives."

The program also gives local brokerages and premier agents the opportunity to acquire new listings by connecting them with motivated sellers who have taken a direct action to sell their home, according to Zillow. These motivated sellers who request a Zillow Offer, but opt instead sell their house traditionally with an agent or do not receive a Zillow Offer, will still be connected with a local brokerage or agent.

In a city where certain neighborhoods are moving a blistering pace, this new program could be an easy sell for savvy homeowners.

More and more real estate companies are using technology for the homebuying and selling process. Houston-based Entera uses machine learning, for instance, in the process, and Offerpad, an ibuyer, recently announced its expansion to Houston.

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This article originally ran on CultureMap.

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UH researchers develop breakthrough material to boost efficiency of sodium-ion batteries

eyes on clean energy

A research lab at the University of Houston has developed a new type of material for sodium-ion batteries that could make them more efficient and boost their energy performance.

Led by Pieremanuele Canepa, Robert Welch assistant professor of electrical and computer engineering at UH, the Canepa Research Laboratory is working on a new material called sodium vanadium phosphate, which improves sodium-ion battery performance by increasing the energy density. Energy density is the amount of energy stored per kilogram, and the new material can do so by more than 15 percent. With a higher energy density of 458 watt-hours per kilogram — compared to the 396 watt-hours per kilogram in older sodium-ion batteries — this material brings sodium technology closer to competing with lithium-ion batteries, according to the researchers.

The Canepa Lab used theoretical expertise and computational methods to discover new materials and molecules to help advance clean energy technologies. The team at UH worked with the research groups headed by French researchers Christian Masquelier and Laurence Croguennec from the Laboratoire de Reáctivité et de Chimie des Solides, which is a CNRS laboratory part of the Université de Picardie Jules Verne, in Amiens France, and the Institut de Chimie de la Matière Condensée de Bordeaux, Université de Bordeaux, Bordeaux, France for the experimental work on the project.

The researchers then created a battery prototype using the new materia sodium vanadium phosphate, which demonstrated energy storage improvements. The material is part of a group called “Na superionic conductors” or NaSICONs, which is made to let sodium ions move in and out of the battery during charging and discharging.

“The continuous voltage change is a key feature,” Canepa says in a news release. “It means the battery can perform more efficiently without compromising the electrode stability. That’s a game-changer for sodium-ion technology.”

The synthesis method used to create sodium vanadium phosphate may be applied to other materials with similar chemistries, which could create new opportunities for advanced energy storage. A paper of this work was published in the journal Nature Materials.

"Our goal is to find clean, sustainable solutions for energy storage," Canepa adds. "This material shows that sodium-ion batteries can meet the high-energy demands of modern technology while being cost-effective and environmentally friendly."

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This article originally appeared on EnergyCapital.

Houston hospital names leading cancer scientist as new academic head

new hire

Houston Methodist Academic Institute has named cancer clinician and scientist Dr. Jenny Chang as its new executive vice president, president, CEO, and chief academic officer.

Chang was selected following a national search and will succeed Dr. H. Dirk Sostman, who will retire in February after 20 years of leadership. Chang is the director of the Houston Methodist Dr. Mary and Ron Neal Cancer Center and the Emily Herrmann Presidential Distinguished Chair in Cancer Research. She has been with Houston Methodist for 15 years.

Over the last five years, Chang has served as the institute’s chief clinical science officer and is credited with strengthening cancer clinical trials. Her work has focused on therapy-resistant cancer stem cells and their treatment, particularly relating to breast cancer.

Her work has generated more than $35 million in funding for Houston Methodist from organizations like the National Institutes of Health and the National Cancer Institute, according to the health care system. In 2021, Dr. Mary Neal and her husband Ron Neal, whom the cancer center is now named after, donated $25 million to support her and her team’s research on advanced cancer therapy.

In her new role, Chang will work to expand clinical and translational research and education across Houston Methodist in digital health, robotics and bioengineered therapeutics.

“Dr. Chang’s dedication to Houston Methodist is unparalleled,” Dr. Marc L. Boom, Houston Methodist president and CEO, said in a news release. “She is committed to our mission and to helping our patients, and her clinical expertise, research innovation and health care leadership make her the ideal choice for leading our academic mission into an exciting new chapter.”

Chang is a member of the American Association of Cancer Research (AACR) Stand Up to Cancer Scientific Advisory Council. She earned her medical degree from Cambridge University in England and completed fellowship training in medical oncology at the Royal Marsden Hospital/Institute for Cancer Research. She earned her research doctorate from the University of London.

She is also a professor at Weill Cornell Medical School, which is affiliated with the Houston Methodist Academic Institute.

Texas A&M awarded $1.3M federal grant to develop clean energy tech from electronic waste

seeing green

Texas A&M University in College Station has received a nearly $1.3 million federal grant for development of clean energy technology.

The university will use the $1,280,553 grant from the U.S. Department of Energy to develop a cost-effective, sustainable method for extracting rare earth elements from electronic waste.

Rare earth elements (REEs) are a set of 17 metallic elements.

“REEs are essential components of more than 200 products, especially high-tech consumer products, such as cellular telephones, computer hard drives, electric and hybrid vehicles, and flat-screen monitors and televisions,” according to the Eos news website.

REEs also are found in defense equipment and technology such as electronic displays, guidance systems, lasers, and radar and sonar systems, says Eos.

The grant awarded to Texas A&M was among $17 million in DOE grants given to 14 projects that seek to accelerate innovation in the critical materials sector. The federal Energy Act of 2020 defines a critical material — such as aluminum, cobalt, copper, lithium, magnesium, nickel, and platinum — as a substance that faces a high risk of supply chain disruption and “serves an essential function” in the energy sector.

“DOE is helping reduce the nation’s dependence on foreign supply chains through innovative solutions that will tap domestic sources of the critical materials needed for next-generation technologies,” says U.S. Energy Secretary Jennifer Granholm. “These investments — part of our industrial strategy — will keep America’s growing manufacturing industry competitive while delivering economic benefits to communities nationwide.”

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This article originally appeared on EnergyCapital.

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