Fulshear-Katy Community Guide & Directory 2022-23

T exas is one of the fastest-growing states in the country, and the Fulshear-Katy area is at the epicenter of that growth. Based on numbers from the 2020 U.S. Census, both the Houston Association of Realtors and Pro Mover Reviews list Fulshear as the #1 fastest-growing city in Texas over the past 10 years, with a staggering growth rate of 1,386%. Pro Movers attributes the growth to the large swaths of available land for the development of new master planned communities, which offer affordable housing and a multitude of amenities for families that are relocating to the area. Data from the 2020 Census also lists For t Bend County, which contains both Fulshear and the southern por tion of the City of Katy, as one of the f ive fastest growing counties in the State of Texas. An April 2020 repor t from Population and Survey Analysts (PASA), which was commissioned and funded by the City of Fulshear Economic Development Corporation, ref lects a median household income of $175,242 and a median housing value of $412,900 for Fulshear residents, far above the median national household income of $79,900 and median national housing value of $346,900. PASA estimates that the City of Fulshear ’s population will grow to over 30,000 people by 2030, which does not include additional growth projections for the City ’s ex tra-territorial jurisdiction or growth in surrounding communities +17% +09% +06% +08% -06% Source: Houston Association of Realtors’ Multiple Listing Service (MLS) KATY NORTH Change in Average Home Price from 2015 to 2020 KATY OLD TOWNE KATY SOUTHEAST KATY SOUTHWEST FULSHEAR

outside the city limits. The City of Katy had a population of 29,049 in 2020 according to World Population Review. Katy ’s population is growing at a rate of 9.17% per year, and has more than doubled since the 2010 census. The Katy Area, which is roughly identif ied as the boundaries of Katy ISD, ref lects a population of approximately 340,000 and is expected to have increased by over 50,000 people during 2021. The average household income in the City of Katy during 2020 was $110,258, while the average household income in the Katy area was $127,355 in 2020, but is projected to reach $147,821 by 2022. World Population Review shows that 35% of City of Katy residents have achieved a bachelor ’s or graduate degree, while almost 62% had attended some college classes. Comparatively, over 92% of the residents of Fulshear have attended at least some college classes, while over 68% have earned a bachelor ’s or advanced college degree. Just over 80% of the homes in the City of Katy are owner-occupied, while almost 95% of homes in the City of Fulshear are owner-occupied, according to data from the U.S. Census Bureau. HOUSING MARKET Many of these factors have made the Fulshear-Katy area one of the most desirable locations in the country for families looking to relocate. This has spurred tremendous demand for both new and resale homes in the area. “ The housing market is as strong as we have seen it in recent years,” says Shelby Kennedy, Par tner-Realtor with Greater Houston Real Estate Par tners. “A large por tion of our clients are looking to move to Fulshear and Katy because they have so much to offer.” Despite continued increases in the development of lots and construction of new single-family homes, builders and developers have not been able to keep up with the tremendous demand. Coupled with recent increases in material and labor costs, this has placed upward pressure on prices for both new and resale homes in the market . “ The demand for new homes in the area has hit an unprecedented level ,” explains Steve Reichardt , a par tner with JNS Construction Solutions, an area builder that specializes in custom homes and investor-owned projects. “We are seeing builders all over town continue to ramp up production to try to keep up with demand. The increased production has also served to push material and labor costs up in a market already struggling to keep up due to COVID-19

within the family ’s budget? • Floor Plan – does the f loor plan f it the family lifestyle (i.e. # of bedrooms/ bathrooms, study, etc.)? • Lot Size / Features – does the size of the lot f it the family lifestyle (i.e. large yard for playground or pool? • Schools – how do the local schools f it your children’s needs? • Amenities – does the community offer amenities that f it your lifestyle (parks, f itness center, swimming pools, tennis cour ts, etc.)? • Tax Rate – how will the tax rate for each community affect your monthly payment? “Despite the challenges, there are oppor tunities out there and we still have to f ind the right f it for our clients,” says Kennedy. “One thing’s for cer tain though… the Fulshear-Katy area has established itself as one of the fastest-growing and most desirable communities in the State of Texas,” exclaims Kennedy. “And that doesn’ t appear to be changing anytime soon.”

related labor and supply chain issues. Unfor tunately, this has contributed to a general rise in home prices throughout most of the country.” Shelby Kennedy agrees. “Demand in our area has far outpaced inventory levels for both new and resale homes,” she says. “Many homes are selling as soon as they hit the market and often for well above the listing price.” “We work really hard for our clients, and often have to get creative to f ind available homes before they hit the market .” From older established neighborhoods to new master planned communities with state-of-the-ar t amenities, the Fulshear-Katy area offers a fairly diverse range of options. Kennedy encourages her clients to consider these impor tant factors before they decide to purchase a home: • Location – does the location f it with your family dynamics (i.e. commute time, cul-de-sac lot , near retail centers, etc.)? • Price – does the price of the home f it

FULSHEAR-KATY COMMUNITY GUIDE & DIRECTORY 2022-23 ISSUE 39