We receive thousands of website and blog hits per week. The big question we are getting these days is "How has Katy remained a boomtown in such difficult times?"
To backtrack a little, BuisnessWeek magazine recently rated the Katy Texas area the number two boomtown in America. The unbelievable statistics of growth for Katy has increased the website questions we keep receiving. Here are the BusinessWeek Statistics:
Katy's Demographics:
Household growth (2000-08): 168%
Household income growth (2000-08): 17%
Home value: $150,500
Here is the article: http://images.businessweek.com/ss/09/02/0205_boomtowns/44.htm
The answer to the question (how has it remained a boomtown) is because the Katy area has become it's own engine...no longer relying completely on the Houston Metro for jobs, amenities, and recreation. The Houston Energy Corridor was the initial engine that drove Katy from the Mid-1980's. As Katy began to diversify into three distinct areas (Old Katy...or the City of Katy, Katy North of I-10...zip codes 77449 and some in 77084, and South Katy...zip codes 77094, 77450, and 77494) people who moved to Katy began making a choice as to which lifestyle fit them best. Along with this growth the medical community began seeing Katy as a viable alternative to the Houston Medical Center and in fact Katy is now being called "Med Center West." This growth in Medical facilities (by the end of 2010 Katy will have 5 full service World class Hospitals) has also caused dramatic increases in medical support facilities as well as jobs. Along with this medical growth senior citizen options for housing and senior care facilities began popping up all over the area particularly in the south Katy area. What seemed at one time to be an area for only families with children has quickly turned into the place to be for Grandparents as well!
The biggest changes that allowed the Katy area to grow have been the building of the Westpark Tollway and the expansion of I-10. Along with the Grand Parkway (a north-south highway) these infrastructure improvements have allowed for much quicker commutes to work or play. By improving the driving conditions many buyers who would have previously chosen to stay in the City of Houston have decided they will make the short trek to Katy!
Once you get to the Katy area the potential buyer will need to decide which area works best for them. A breakdown of each area would look like this:
The Old Katy area has homes priced from under $100,000 to over $1,000,000 with most homes priced from $150k to $200k. Many residents of Old Katy have lived in the area for generations. This area has much more of a country feel and a slower pace. You will also be able to find some larger properties in this area. Katy High School has been around for many years and has won many State Championships (including the last two years) in Football (did I mention this is Football Country!)
The Katy north of I-10 area is made up of smaller developments with less of the uniform growth you will see on the south side of I-10. The areas in the north sections tend to be priced from about $80,000 to around $200,000 with most homes priced from $115-140k. They are all located in Harris County (only Old Katy is actually in the City of Katy). You will have more opportunity to find a bargain, foreclosure, or short sale in this section of town. Many of the homes feed the Award Winning Katy ISD School District, but if your choice is to go to Katy schools you need to be careful and make sure your Realtor knows because some of the homes will feed other districts (even though they may have a Katy mailing address).
The Katy area south of I-10 has seen the most growth...and with good reason...this may be the most desirable area to move in the entire Houston metro. Wonderful subdivisions which seem to seamlessly run into each other give the south a feeling of World Class zoning (even though the Houston area has no zoning). Master Planned Communities rule here...Cinco Ranch, Grand Lakes, Seven Meadows, Kelliwood, Green Trails (even though it has a Houston address it is in the Katy area), Avalon, Westheimer Lakes North (not to be confused with Westheimer Lakes), Falcon Ranch, Firethorne, and WoodCreek Reserve are all incredible communities with unbelievable amenities like pools, golf, tennis, parks, lakes, boating, fishing, waterparks, nature trails, etc... Prices in the south range from about $100,000 for the smaller communities to around $3,000,000. The majority of homes are priced in the $200,000 to $500,000 range. This area is truly Kids-town USA! It is located in both Harris and Fort Bend Counties.
