In a recent report released by Opendoor, a digital platform for residential real estate, Katy, Texas, has emerged as the most popular ZIP code in the United States for homebuyers. The report, published in January 2024, highlights ZIP code 77493 in Katy for its affordability and rapid growth. Following closely is Cypress, Texas, with ZIP code 77433, ranked as the second most sought-after location. This trend underscores the appeal of fast-growing suburbs in Texas, particularly driven by robust job growth and significant new developments.
Katy, located just west of Houston, boasts a diverse housing stock at relatively affordable price points. The median listing price for homes in Katy stands at approximately $379,900, while the average home value has increased by 0.8% over the past year to reach $404,577. This affordability, combined with the area's burgeoning job market, has attracted many potential homebuyers. Major corporations like ExxonMobil and the Hewlett Packard Enterprise Company have established their presence in the region, further enhancing its attractiveness.
Cypress also shares similar characteristics that make it appealing to homebuyers. The median rent in this area is around $2,100, reflecting its growing demand. According to Keller Williams Realty, the Harris County community is recognized as one of the most developed and booming suburbs in Texas. The influx of new residents can be attributed to the continuous job growth in these areas, which has played a significant role in their popularity among homebuyers.
Opendoor's analysis involved examining data from local Multiple Listing Services (MLS) where its brokerage operates. The company ranked these ZIP codes based on the total number of homes that went into contract within 90 days of being listed for sale in 2024. Texas led the way with six cities making it onto Opendoor's top ten list, reflecting the state's favorable conditions for homebuying.
The rapid development and job opportunities in these suburbs contribute significantly to their appeal. Homebuyers are increasingly looking for locations that not only offer affordable housing but also a solid employment landscape. As companies continue to expand their operations in these areas, more individuals are drawn to the prospect of living and working in such vibrant communities.