Aerial of the Texas Medical Center and Downtown Houston Skylines
The Texas Medical Center (TMC) region is a densely populated urban district in Houston, serving as the world’s largest medical complex with over 120,000 employees spanning 4.93 square miles.
Demographics:
Population: Approximately 2,300 to 3,600 residents reside directly within the Medical Center “Super Neighborhood,” while the broader area encompassing surrounding apartments exceeds 8,500.
Diversity: The area exhibits a high level of diversity, characterized by a racial composition of approximately 49% White, 20% Black, 20% Asian, and 9-12% Hispanic.
Age & Education: The median age is approximately 32–37. The population is exceptionally well-educated, with 81% of residents holding a bachelor’s degree or higher.
Household Type: The region possesses an “urban feel,” with 92% of households being childless and a significant majority renting their homes.
Salary & Income:
Neighborhood Income: The average annual household income in the Medical Center area is $133,561, with a median of $72,658.
Professional Salaries:
Doctors/Physicians: Average approximately $270,776.
Registered Nurses: Typically range from $77,000 to $99,000.
Healthcare Management: Median wages in Texas for this sector are approximately $74,300.
Employment Base: Approximately 98% of the workforce in the immediate vicinity is classified as white-collar.
Real Estate Summary
The real estate market in the region is predominantly characterized by high-rise condominiums, townhomes, and luxury apartments catering to medical professionals and students.
Real Estate Market Analysis:
Median Sale Price:
Recent data indicates a median sale price of $525,000 for the neighborhood.
Average List Price:
The average list price of properties currently on the market is approximately $248,548, reflecting a high volume of smaller condominium units.
Rent:
The median rent is approximately $3,450 per month. However, average rents for typical 1,300 square foot units are cited near $1,618.
Investment Outlook:
Property values are supported by multi-billion dollar expansions such as TMC3. Nevertheless, the market currently exhibits a slower “days on market” trend of approximately 63 to 166 days.
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