2012 Could be big….
According to Olivai Pulsinelly of the Houston Business Journal, Houston is among the top 25 metro areas nationwide for average income growth through 2011, a new analysis shows.
The Houston-Sugar Land-Baytown area’s per capita income increased from $43,065 in 2009 to $47,612 in 2011, a 10.56 percent change, the Business Journals’ On Numbers analysis of U.S. Bureau of Economic Analysis data found. When adjusted for inflation, Houston’s increase was 5.45 percent, ranking the metro No. 25 out of 366 markets nationwide and No. 6 among the 25 metros in Texas.
The Midland and Odessa areas took the No. 1 and No. 2 spots both nationwide and in Texas with inflation-adjusted increases of 19.66 percent and 13.58 percent, respectively. The Victoria, Longview and Corpus Christi areas rounded out the top five in Texas — and took the 11th, 12th and 13th spots nationwide — with 7.02 percent, 6.89 percent and 6.87 percent, respectively.
Per capita income is the average amount of money — including salaries, interest payments, dividends, rental income and government checks — received by each resident of a given metropolitan area in a given year, On Numbers reports. The national per capita income increased 2.6 percent when adjusted for inflation.
With this increase in the incomes, our homes for sale in The Woodlands and Houston should also increase as the number of new buyers enter the market. I am excited about the next few years and what it will do for our families.