In the Business of Job Creation

Behind New York City, Houston hosts the largest concentration of Fortune 1000 companies. While this in itself is impressive, what is more compelling is that Houston is one of the biggest job creators in the nation. With 3.2 million jobs and a net increase of 600,000 jobs over the last decade, experts in Houston only expect the jobs to keep coming in Houston with projections of some 71,000 new jobs over the next year.

Optimism in Market Diversity

More than pure job creation alone, Houston is home to a highly diversified local market with a strong small business sector. In fact, Houston has nearly 93 startups per 1000 businesses and ranks among one of the friendliest cities for small businesses.

While traditionally Houston has relied on the oil and gas industries to make up the bulk of its economy, we’ve seen a surge in economic diversification including international trade, manufacturing, education, healthcare, and a vibrant food and arts scene. This diversification has been enormously beneficial in strengthening the economy beyond what anyone could have imagined, turning Houston into a powerhouse market where others floundered to find their footing over the last decade.

Just in international trade alone, Houston handled $233.3 billion in foreign trade in 2018 in the Houston/Galveston Customs District, a 21.5 percent increase of the previous year.

 

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Explosive Population Growth

The job and industry diversification we’ve seen in Houston largely stems from consistent population growth. The facts are clear: people want to live and work in Houston.

In the wake of economic recovery post-Great Recession, Houston saw a surge of 34,000 new residents in a single year. While population growth has slowed to a rate of 1.67 percent per year, this is still above the Texas average of 1.47 percent and leaps and bounds above the national average of 0.71 percent.

Defying All Expectations

Houston has faced its fair share of trials. The oil industry has had bumps in the road that many thought would cause calamity for the market. With economists predicting that its pace of growth could not last, Hurricane Harvey struck. While this was undoubtedly a devastating blow on both a personal and an economic level, Houston demonstrated enormous resilience in the face of adversity.

With a strong, diverse economic backbone it didn’t take long for the city to bounce back. For the real estate investor, seeing a market that can bear the burden of both natural and economic disaster and stand strong on the other side is encouraging in a long-term investment.

Why Invest in Houston Real Estate?

Houston is a market that has commanded the interest of domestic and global investors alike. With its diverse and robust economy, Houston has proven itself to have the tenacity to withstand economic twists and turns not only in theory but in practice.

While the Houston real estate market can be highly competitive and tricky for investors, with a partnership with Memphis Invest, turnkey real estate investors can rest easy in the security of our expertise in property acquisition, rehabilitation, and management. With us, you can build a passive investment portfolio that includes some of the best investment markets for buy-and-hold investing, bar none.