The KPRC Report also included a list of Houston-area communities
identified as having both high affordability and a good quality of life. These
were Cypress, Magnolia, and Hockley. So, does KPRCs intel check out? Here are
some recent news stories about each area…
Cypress
KPRC recommended Cypress for its highly-regarded schools and low taxes.
“Actually, the Cypress area, that whole northwest quadrant of Houston and surrounding counties, ... is actually booming. That’s one of the areas we are starting to see a lot of growth,” said Cathy Trevino, chair of the Houston Association of Realtors.
As builders continue to develop the Cypress community, inventory increased from 96 homes in January 2022 to 565 in the Cypress South submarket this April. Additionally, the potential of the Bridgeland master-planned community in Cypress was cited as the primary reason Chevron purchased 77 acres nearby to develop a research and development campus.
In terms of schools, Cy-Fair ISD was the largest district in Texas to receive an 'A' accountability rating from Texas Education Agency. CFISD received an A in all categories except Student Achievement and Closing the Gaps, which were rated B. This is a marked improvement over the 2018-2019 accountability ratings, when Cy-Fair received an overall B rating. Within the district, 34.5 percent of schools received an A, 55.2 percent received a B, and 10.3 percent received a C rating.
Concerning taxes, Cypress-Fairbanks ISD recently approved its lowest property tax rate in 37 years. The school board approved a 2023 tax rate of $1.0811 per $100 of taxable property-- a reduction of $0.2137 from last year.
CFISD also offers a 20 percent homestead exemption to property owners 65 and older. This yields a $40,000 reduction in taxable value on a $200,000 house, resulting in a decrease of $432 in property taxes.
Magnolia
Featuring a low cost of living compared with both Texas and the USA as a whole, many opportunities to buy homes on acreage, strong economic growth estimates on an annual basis, easy access to everything Greater Houston has to offer, and a location just a few hours from other major metroplexes like San Antonio and Austin; Magnolia is seeing rapid growth in new construction. Furthermore, homes in the Tomball and Magnolia area stayed on the market significantly longer year over year, staying on the market 300% longer on average in Magnolia ZIP code 77355. This indicates there are growing opportunities for resale buyers, as well.
In terms of new construction, Kresston is under development near the intersection of Hwy. 249 and FM 1486. This community is expected to feature up to 3,700 homes, with a mix of single-family homes and townhomes. A new Magnolia ISD school will also be built in the community, according to the developer's press release.
Hockley
Hockley is growing in popularity for those looking for an escape from big-city life and small-town charm. Popular draws include golf, nature fun, the Oil Ranch oil facility and amusement park, and Fairfield Town Center.
Jubilee is a 1,620-acre community in Hockley, located west of the intersection of Hwy. 290 and the Grand Parkway between Warren Ranch and Katy Hockley roads. Approximately 4,800 homes are planned for the community. Another new master-planned community in Hockley, The Grand Prairie, features a 70-acre detention basin owned by the Harris County Flood Control. This concept could become a model for managing flood risks in the Cypress Creek watershed and Katy Prairie area. Finally, Stallion Lakes is another development offering lots for sale, starting at $300,000 on land that promises nature trails, vast greenery, and rolling terrain,” according to press releases.
Bottom Line
If you are hoping 2024 will be the year YOU become a homeowner—or if you are intrigued by any of the community details highlighted here—connect with Forza to maximize your outcomes in a WIN-WIN for everyone!
