Fairbanks/Northwest Crossing, Houston, TX—77040
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairbanks/Northwest Crossing, Houston, TX
As of Oct '25, the median home price in Fairbanks/Northwest Crossing, Houston, TX is $259,000, with a year-over-year change of -2.7%. This indicates that home prices in Fairbanks/Northwest Crossing, Houston, TX are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $259,000 | -2.7% |
| Single Family | $260,000 | -3.0% |
| Condos | $179,000 | -4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $186,000 | -4.6% |
3 Bed | $234,000 | -4.5% |
4 Bed | $337,000 | -1.5% |
| 5 Bed | $439,000 | -0.5% |
% of Housing Stock
Rental Trends — Fairbanks/Northwest Crossing, Houston, TX
As of July '25, Rentcast reports the average rent in Fairbanks/Northwest Crossing, Houston, TX is $1,800, with a year-over-year rent change of -13.5%. Per bedroom, the median rent as of July '25 in Fairbanks/Northwest Crossing, Houston, TX is studios: $900, 1-bedrooms: $1,170, 2-bedrooms: $1,410, 3-bedrooms: $2,030, 4-bedrooms: $2,920. The most common rental property sizes in Fairbanks/Northwest Crossing, Houston, TX are 2-bedroom and 1-bedroom, accounting for 39.8% and 34.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,800 |
| Studio Rent | $760 | $900 |
| 1 Bed Rent | $1,100 | $1,170 |
| 2 Bed Rent | $1,440 | $1,410 |
| 3 Bed Rent | $2,000 | $2,030 |
| 4 Bed Rent | $2,500 | $2,920 |
% of Rental Stock
Property Listings — Fairbanks/Northwest Crossing, Houston, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairbanks/Northwest Crossing, Houston, TX is 55. This is a increase of 27.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $326,000 | 5.0% |
Listing Count | 112 | 9.0% |
| Listings as % of Homes | 0.3% | 9.0% |
Days on Market | 55 | 27.0% |
Demographics — Fairbanks/Northwest Crossing, Houston, TX
As of the latest ACS Survey released in 2023, Fairbanks/Northwest Crossing, Houston, TX has a population of 50,400, which has increased by 4.5% over the past 5 years. Fairbanks/Northwest Crossing, Houston, TX is a popular place for families, as children make up 26.7% of the population. The area has a moderately educated workforce, with 27.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 50,400 | 4.5% |
% Under 18 | 26.7% | 13.6% |
% Seniors | 10.7% | 12.6% |
% WFH | 9.6% | 152.6% |
% w/ College Degree | 27.5% | 0.0% |
As of the latest ACS Survey released in 2023, Fairbanks/Northwest Crossing, Houston, TX is a predominantly hispanic area, with 52.7% of the population identifying as hispanic. The hispanic population has grown by 2.5% in the last 5 years. The second most common race or ethnicity in Fairbanks/Northwest Crossing, Houston, TX is white, making up 21.5% of the population. Foreign-born residents account for 31.2% of the population in Fairbanks/Northwest Crossing, Houston, TX, and this percentage has increased by 6.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 21.5% | -21.0% |
% Black | 15.6% | 14.7% |
% Hispanic | 52.7% | 2.5% |
% Asian | 8.5% | 16.4% |
% Foreign Born | 31.2% | 6.5% |
Mortgage and Risk — Fairbanks/Northwest Crossing, Houston, TX
According to HUD data as of 2023, there were 368 mortgage originations in Fairbanks/Northwest Crossing, Houston, TX, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Fairbanks/Northwest Crossing, Houston, TX. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 368 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Fairbanks/Northwest Crossing, Houston, TX
As of 2024, the percent of homes in Fairbanks/Northwest Crossing, Houston, TX under the Section 8 program is 1.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Fairbanks/Northwest Crossing, Houston, TX, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 136 |
Total Units Section 8 | 136 |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $1,100 | $1,250 |
| 2 Bedroom | $50 | $1,440 | $1,490 |
| 3 Bedroom | -$10 | $2,000 | $1,990 |
| 4 Bedroom | $0 | $2,500 | $2,500 |
Affordability — Fairbanks/Northwest Crossing, Houston, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $259,000 |
| Median Household Income | $67,300 |