In 2012, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was $449 billion, the fourth-largest of any metro area in the United States.
Fortune 500 companies based in Houston.
| Rank | Company Name |
|---|---|
| 496 | Crown Castle |
| 501 | KBR |
| Companies in the petroleum industry |
Is Houston a wealthy city?
If you want to build a fortune, you may want to consider Houston, Texas — Bankrate recently ranked it as the best big US city for accumulating wealth. With its thriving economy and abundance of Fortune 500 companies, it’s no surprise Houston secured the top spot.
Does Houston have a good economy?
Annual, Not Seasonally Adjusted, Not Inflation Adjusted. The U.S. Bureau of Economic Analysis estimates Houston metro’s GDP at $490 billion in 2017, ranking it the 7th among the top 50 metropolitan areas in the country. It accounts for almost 29 percent of the state’s GDP.
Is Houston a developing city?
The City of Houston grew by 9.8 percent between 2010 and 2020, but the city proper appears to have actually lost residents between 2020 and 2021, according to Bill Fulton, director of the Kinder Institute for Urban Research at Rice University.
How is Houston doing economically?
The Houston Economy in the Pandemic
The major culprit in poor performance is again the large local oil sector. Houston’s payroll employment losses and recoveries are shown in Figure 9, with a lockdown decline of 367,200 jobs or 11.3 percent compared to 22.0 million U.S. jobs or 14.4 percent.
Is Houston or Dallas richer?
According to the 2018 Knight Frank City Wealth Index, Dallas ranks seventh globally for the most households (297,970) earning at least $250,000 in 2017, just behind Houston at No. 6 (298,868 households).
Is Texas rich or poor?
The country’s second-most populous state, Texas, is also its second-richest state in terms of GDP. Texas’s GDP is $1,772,132,000. Texas’s median household income is $64,034, just below the national median.
Is Houston in decline?
Key COVID-19 indicators are all on the decline in Greater Houston, suggesting the latest surge caused by the more transmissible omicron variant is on the downswing. The latest data from the Texas Medical Center shows a 16.9% positivity rate last week, a drop from 21.3% the previous week and 28.1% in December.
What percentage of Houston is poor?
The poverty rate in Houston is 21.2%. One out of every 4.7 residents of Houston lives in poverty.
What is Houston’s main industry?
oil
The economy of Houston is based primarily on the energy industry, particularly oil. However, health care, biomedical research, and aerospace also constitute large sectors.
Is Houston a booming city?
The locale has seen a 7.3 percent increase in population from 2015 – 2020, with a total of 483,675 new Houston residents, increasing the overall population in the city to well over 7 million. The data shows that most of our new neighbors are coming from the Greater Dallas area.
Why is Houston so great?
It’s by far the country’s No. 1 job creator and home to 26 Fortune 500 companies. A paycheck goes farther here than anywhere else in the country, and it has a medical center larger than downtown Dallas. Add a thriving restaurant and cultural scene, and you’ve got a winning case for Houston as the best city in America.
Is Houston TX booming?
The Greater Houston area and two surrounding areas have clocked in some of the largest population gain of any U.S. metro area from July 2020 to July 2021, according to new estimates from the U.S. Census Bureau.
Is Houston a growing market?
Louis, and has grown by more than 38% over the last 10 years. Through November 2021, Houston has added 132,600 jobs and is now home to more than 3.4 million employees. Median household incomes in Houston grew by 5.8% year-over-year while median property values increased by 7.03% over the past 12 months.
What is the unemployment rate in Houston?
Houston-Sugar Land-Baytown, TX
| Data Series | Oct 2021 | Jan 2022 |
|---|---|---|
| Unemployment Rate(3) | (2)5.4 | 5.5 |
| Nonfarm Wage and Salary Employment | ||
| Total Nonfarm(4) | 3,127.4 | 3,130.0 |
| 12-month % change | 4.7 | 5.3 |
What is the cost of living in Houston Texas?
Houston cost of living is 96.5
| COST OF LIVING | Houston | Texas |
|---|---|---|
| Grocery | 98.1 | 93.7 |
| Health | 92.4 | 95.4 |
| Housing | 80.2 | 84.3 |
| Median Home Cost | $220,000 | $243,600 |
How many millionaires are in Houston?
Houston-The Woodlands comes in as the fifth in Texas for millionaires — No. 133 in the nation — with 120,841 millionaire households, making up almost 5.5 percent of the overall population.
Where in Texas do millionaires live?
A total of 18 billionaires live in Dallas with a combined net worth of $57.9 billion. Of Dallas residents with a minimum 10-figure net worth, Jerry Jones is the wealthiest, worth an estimated $8.7 billion. Houston is the city with the second most billionaires with the highest combined net worth in Texas.
How many billionaires are there in Texas?
Billionaires are ranked by net worth as of April 30. Forbes lists 67 billionaires in Texas.
What is the poorest US state?
Poverty rates were highest in the states of Mississippi (19.58%), Louisiana (18.65%), New Mexico (18.55%), West Virginia (17.10%), Kentucky (16.61%), and Arkansas (16.08%), and they were lowest in the states of New Hampshire (7.42%), Maryland (9.02%), Utah (9.13%), Hawaii (9.26%), and Minnesota (9.33%).
Is Texas the richest state in USA?
The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.0 trillion as of 2021. As of 2015, Texas is home to six of the top 50 companies on the Fortune 500 list and 51 overall (third most after New York and California).
