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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Houston lab-test startup seeks $1M for nationwide expansion

Testing Access

Health care industry veteran Jim Gebhart knew there had to be a better way for patients to access lab services, especially those with high health insurance deductibles or no insurance at all.

“This challenge became deeply personal when a close family member developed a serious illness, and we struggled to secure prompt appointments,” Gebhart tells InnovationMap. “It’s incredibly frustrating when a loved one cannot receive timely care simply because of provider shortages or the limited capacity of traditional clinics.”

Driven by the desire to knock down lab-test barriers, Gebhart founded Houston-based TheLabCafe.com in 2024. The platform provides access to low-cost medical tests without requiring patients to carry health insurance. TheLabCafe serves patients in six states: Texas, Georgia, Louisiana, Nevada, New Mexico and Oklahoma. Gebhart, the startup’s CEO, says that by the end of March, LabCafe will be offering services in 20 more states and the District of Columbia.

Gebhart has spent more than 30 years in the lab industry. His career includes stints at Austin-based Clinical Pathology Laboratories, Ohio’s Cleveland Clinic Laboratories and Secaucus, New Jersey-based Quest Diagnostics.

“Since nearly 80 percent of disease diagnoses rely on laboratory testing, I decided to leverage my background to create a more accessible, self-directed process for individuals to order blood and urine tests on their own terms — when and where they need them,” says Gebhart.

So far, Gebhart is self-funding the startup. But he plans to seek $700,000 to $1 million in outside investments in late 2026 to support the nationwide expansion and the introduction of more services.

TheLabCafe contracts with labs for an array of tests, such as cholesterol, hepatitis, metabolic, testosterone, thyroid and sexually transmitted infection (STI) tests. A cholesterol test obtained through TheLabCafe might cost $29, compared with a typical cost of perhaps $39 to $59 without insurance.

A health care professional reviews every test, both when the test is ordered and when the results are delivered, often within 24 hours. After receiving test results, a patient can schedule a virtual visit with a health care professional to go over the findings and learn potential treatment options.

Gebhart says TheLabCafe particularly benefits uninsured patients, including those in Texas. Among the states, Texas has the highest rate of uninsured residents. U.S. Census Bureau data shows 21.6 percent of adults and 13.6 percent of children in Texas lacked health insurance in 2024.

“Uninsured patients often pay the highest prices in the health care system,” Gebhart explains. “We address this by offering straightforward pricing and convenient access to testing without requiring insurance.”

“Our rates are intentionally set to remain affordable, helping individuals take a proactive approach to their health,” he adds. “Regular testing enables people to identify potential health issues early and track their progress as they make lifestyle changes. Ultimately, you can’t measure improvement without data — and laboratory results provide that data.”

Houston geothermal startup secures $97M Series B for next-gen power

fresh funding

Houston-based geothermal energy startup Sage Geosystems has closed its Series B fundraising round and plans to use the money to launch its first commercial next-generation geothermal power generation facility.

Ormat Technologies and Carbon Direct Capital co-led the $97 million round, according to a press release from Sage. Existing investors Exa, Nabors, alfa8, Arch Meredith, Abilene Partners, Cubit Capital and Ignis H2 Energy also participated, as well as new investors SiteGround Capital and The UC Berkeley Foundation’s Climate Solutions Fund.

The new geothermal power generation facility will be located at one of Ormat Technologies' existing power plants. The Nevada-based company has geothermal power projects in the U.S. and numerous other countries around the world. The facility will use Sage’s proprietary pressure geothermal technology, which extracts geothermal heat energy from hot dry rock, an abundant geothermal resource.

“Pressure geothermal is designed to be commercial, scalable and deployable almost anywhere,” Cindy Taff, CEO of Sage Geosystems, said in the news release. “This Series B allows us to prove that at commercial scale, reflecting strong conviction from partners who understand both the urgency of energy demand and the criticality of firm power.”

Sage reports that partnering with the Ormat facility will allow it to market and scale up its pressure geothermal technology at a faster rate.

“This investment builds on the strong foundation we’ve established through our commercial agreement and reinforces Ormat’s commitment to accelerating geothermal development,” Doron Blachar, CEO of Ormat Technologies, added in the release. “Sage’s technical expertise and innovative approach are well aligned with Ormat’s strategy to move faster from concept to commercialization. We’re pleased to take this natural next step in a partnership we believe strongly in.”

In 2024, Sage agreed to deliver up to 150 megawatts of new geothermal baseload power to Meta, the parent company of Facebook. At the time, the companies reported that the project's first phase would aim to be operating in 2027.

The company also raised a $17 million Series A, led by Chesapeake Energy Corp., in 2024.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

10+ can't-miss Houston business and innovation events in February

where to be

Editor's note: February may be short, but its event calendar isn’t. From recurring monthly favorites to the return of annual celebrations and summits, here's what not to miss and how to register. Please note: this article may be updated to include additional event listings.

Feb. 2 — Entrepreneurship Roundtable with OPEN

Join founders, builders and innovators as they explore what it takes to create, scale and sustain meaningful ventures. This event, hosted by Open Houston, will be moderated by Faisal Bhutto, president and CEO of Houston-based end-to-end IT and cybersecurity company Alykas.

This event is Monday, Feb. 2, from 11 a.m.-1 p.m. at the Ion. Register here.

Feb. 3 — Tech+Tequila Talk: Tax Equity: Aligning Incentives for Founders, Investors & Philanthropy

Hear from guest speaker Cesar de la Cerda, founder and CIO of EnvisionVest, at the latest installment of Tech and Tequila Talk. The event will focus on using the tax code as a powerful fundraising tool.

This event takes place Tuesday, Feb. 3, from 5-7 p.m. at the Ion. Register here.

Feb. 5 — Ion Block Party Mardi Gras

Let the good times roll while networking with potential collaborators, mentors and investors at the Ion. Food and drink will be available, and the Ion will provide drink tickets for one free drink at Second Draught upon check-in.

This event is Thursday, Feb. 5, from 4-7 p.m. at the Ion. Register here.

Feb. 10 — Mercury Fund Day at the Ion

The Ion and Houston's Mercury Fund will host this special event, previously known as Software Day. The event will feature a panel that dives into how Mercury is pushing the boundaries of what’s possible with agentic AI and blockchain. A select group of early-stage software startups will also participate in office hours before the panel. Afterwards, all attendees can network during happy hour at Second Draught.

This event is Tuesday, Feb. 10, from 3:30-7:30 p.m. Register here.

Feb. 11-12 – In-Space Physical AI Workshop

Rice Nexus is bringing together industry leaders, government agencies and academia to explore the cutting edge of AI in space exploration. Matt Ondler, president of Aegis Aerospace, will present the keynote address. Other industry leaders from NASA Johnson Space Center, Intuitive Machines, Microsoft and Rice University and other organizations will participate. The event will close with the Inaugural Space Galette Reception hosted by the Consulate General of France in Houston and the Rice Space Institute.

This event begins Wednesday, Feb. 11, at the Ion. Register here.

Feb. 12 — State of the City

Houston First Corporation and the Greater Houston Partnership will host Mayor John Whitmire’s State of the City luncheon. Whitmire will share an update on his administration’s progress since taking office and highlight his top priorities that will continue to elevate Houston and its economy.

This event is Thursday, Feb. 12, from 11 a.m.-1:30 p.m. at the Hilton Americas-Houston. Register here.

Feb. 12 — Positioning Houston as the Brain Capital of the World

David Gow, CEO of the Center for Houston's Future, will present "Positioning Houston as the Brain Capital of the World" at the University of Houston Honors College Leadership Forum. Gow will share how Project Metis aims to establish Houston as a global hub for brain health research, innovation and economic development.

This event is Thursday, Feb. 12, from 7:30-9:30 a.m. at The Junior League of Houston. Register here.

Feb. 13 — From Research to Enterprise: Immigration & Innovation

Innov8 Hub will host an in-person seminar as part of its Startup Resources Series, focused on the intersection of immigration law, entrepreneurship and technology commercialization. The session will feature guest speakers Mario Cantu, Shilpa Ghurye and Vikesh Patel of KM&D PLLC, who will share insights for founders and innovators navigating legal pathways while building and scaling technology-driven ventures.

The event is Friday, Feb. 13, from 1-2 p.m. at the Innovation Center at UH Technology Bridge, Building 4. Register here.

Feb. 18-20 — TMC AI Summit

UTHealth Houston and Texas Children’s Hospital are bringing back the TMC AI Summit for its third year. This event is focused on translating advanced AI innovations into practical, real-world solutions for the biomedical and healthcare industries. It will be broken up into three tracks and will feature poster and oral presentations, workshops and tutorials, industry talks and student research showcases.

The event begins Wednesday, Feb. 18, at the Duncan Neurological Research Institute. Register here.

Feb. 26 — Transition on Tap

Greentown Labs’ signature networking event returns in February to foster conversations and connections within Houston's climate and energy transition ecosystem. Entrepreneurs, investors, students, philanthropists and more are invited to attend, meet colleagues, discuss solutions and engage with the growing community.

The event begins Monday, Feb. 26, from 5:30-7:30 p.m. at Greentown Labs. Register here.

Feb. 26 — NASA Tech Talk

Every fourth Thursday of the month, NASA experts, including longtime engineer Montgomery Goforth, present on technology development challenges NASA’s Johnson Space Center and the larger aerospace community are facing, and how they can be leveraged by Houston’s innovation community. Stick around after for drinks and networking at Second Draught.

This event is Thursday, Feb. 26, from 6-7 p.m. at the Ion. Register here.

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