Find Katy Texas homes for sale, Katy Texas homes for rent or new homes in Katy TX. Research the Katy Texas real estate market and see what’s happening with development and new communities in Katy Texas and West Houston. Aaron Layman Poperties is a full-service Katy Texas Realtor providing housing and economic data affecting Katy Texas real estate.
Katy, Texas is a growing community spanning Fort Bend, Harris and Waller counties about 25 miles west of Houston. The real estate market in Katy, Texas has seen steady growth during the last decade, with a population now topping several hundred thousand residents. The City of Katy actually lies in unincorporated Waller County, north of I-10. Most of the recent growth in Katy area real estate has occurred South of I-10 in the area centered around Cinco Ranch and various other master-planned communities. Future extension of the Grand Parkway’s segment E to the north will likely spur additional growth to the north in coming years. A large portion of the undeveloped real estate in the Houston area lies within the boundaries of Katy ISD north of I-10.
Katy real estate is still essentially a two markets, with the area north of I-10 consisting of Old Katy and various other starter-home communities while South Katy consists primarily of master-planned communities where a number of energy industry professionals reside. The energy corridor continues to be a big driver of the Katy, TX real estate market and relocation business.
Zoning in Katy is similar to other parts of Houston in that Katy Texas real estate is largely governed by community deed restrictions and homeowners associations rather than city zoning laws. Most homeowners associations in the Katy area are managed by a professional property management company. The exception to Katy HOA’s would be the heart of Old Katy north of I-10 and a few other communities which lie within the city limits of Katy. Most of the master-planned communities in South Katy fall within unincorporated Fort Bend County, and not within the city limits. They are therefore governed by some sort of community association.
Katy Texas real estate has seen dramatic growth in recent years because of the many wonderful master-planned communities offering affordable housing and also because of the acclaimed public schools in Katy ISD. Katy ISD is a recognized district in the state of Texas with a number of exemplary rated campuses. The district serves over 60,000 students at more than 50 campuses, including six high schools. A seventh high school is slated to open in the fall of 2013. The most recent census data in 2010 showed 71,115 single family housing units in Katy ISD and an additional 17,948 multi-family housing units.
Property taxes in Katy, Texas consist of various taxing entities including school, county, MUD and other entities. Tax rates for Katy, TX real estate generally range from 2.0 percent to 3.6 percent depending on the age of the development and governing entities. Most of the communities in Katy lie with a Municipal Utiltity District, and the average tax rate is somewhere near 3.0 percent. Newer communities with new construction will generally have the highest MUD and overall tax rates. A reputable Realtor or one of the area title companies can normally assist with identifying various taxing entities which are applicable for a particular property.
Prices for Katy, Texas real estate are relatively affordable, and are generally stable to low-growth in nature. Affordable land and a relatively healthy Houston economy have provided Katy with one of the best-performing real estate markets in the Houston area in recent years. Prices for homes in the north part of Katy are generally under $150,000, while home prices in South Katy are often $250,000 or more. A look at Cinco Ranch home prices can provide you with a good indicator of the South Katy real estate market. Prices in the starter home market north of I-10 have been more affected by foreclosures and distressed property in some of the hardest hit areas (zip code 77449 for instance) have approached 30% of sales. Sales of distressed real estate in South Katy have been minimal, with short sales and foreclosures together accounting for less than 10% of recent sales and closer to 5% in the most popular neighborhoods.
For trends and news affecting the Katy TX real estate market, you can visit the section of this site for housing market reports. For more information on Katy, Texas real estate just give me a call. If you are looking for a Katy, TX home, you can search available properties for sale or lease, or contact me to set up your customized home-search profile.