Harris County population growth could mean higher values for Houston real estate

Population growth could push property valuesBetween 2000 and 2010, Harris County, Texas, has seen a 20 percent population increase, according to the U.S. Census Bureau, meaning that more housing is needed to shelter the extra residents. The county had 3,400,578 residents in 2000 and 4,092,459 in 2010, the government's figures said.

A former Census Bureau director and current demographer at Rice University, Steve Murdock, told the Fort-Worth Star Telegram that Texas has been a huge part of the growth of the U.S. population over the past decade.

"It has been a phenomenal run for Texas. Texas grew by nearly 4.3 million out of 17 million in the country; that's almost a quarter of the total growth of the nation," he said in an interview.

The Hispanic population increased at a greater rate than any other ethnic group, up nearly 50 percent in the Houston area.

Experts say the rapidly growing population will provide opportunities as well as challenges to the city's real estate market, pushing housing demand higher and causing a possible rise in average Houston home prices. 

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