Houston's median home price increased slightly in Q4 2024, while the average mortgage rate decreased, improving affordability for buyers. By the end of 2024, 40% of households could afford a median-priced home, up from 38% in 2023. The median home price was $340,200, requiring an annual salary of $94,400 for affordability. Conversely, rental affordability declined, with average single-family rental prices rising 5% to $2,100, necessitating an income of $84,000, down from 47% of households able to afford it a year prior.