Houston’s $88 Million Budget Hole

This past summer, the city expected to be about $25 million short this fiscal year. On Wednesday, City Council heard the new expected shortfall about $88 million.

The city is expecting to collect about $63 million less property taxes than budgeted. According to Finance Director Melissa Dubowski these are the main culprits:

Council kept the rate flat at 51.919 cents per $100 of taxable value, the same as the last two years. The city chose not to raise the rate to the legal revenue cap, which could have seen it go up to 55 cents per $100 of taxable value. The legal max would have brought in roughly $87 million more at about $9 per homeowner. Mayor Whitmire isn’t keen on raising taxes until all other avenues have been explored.

Why it matters: For now, your city tax bill remains unchanged. But every round of this debate gets closer to a choice between raising the rate and cutting services.

Houston’s Townhome Market Just Shifted. Here’s What That Means.

Townhome and condo sales fell 21% from a year ago. Only 323 sold across all of Greater Houston.

The median price dropped to $209,000. Single-family homes, by comparison, prices basically stayed the same.

Freddie Mac’s 30-year average hit 7.40% in the second week of October, up from 6.71% at the start of September.

Buying? You have real negotiating room right now. More options, and sellers who have to listen.

Selling a townhome? Price it right on day one. With over nine months of supply, buyers have choices, and an overpriced listing just sits.

This email is general market information only. It is not tax, legal, or financial advice, and it isn't a recommendation about your specific property or purchase. The market data comes from Houston Association of Realtors Monthly Report; it's believed reliable but not guaranteed and can change quickly. For tax or legal questions, please talk with a qualified professional. For advice on your own situation, book a call. If you're already working with another agent, this isn't meant as a solicitation and you should review with your agent they will better understand your specific circumstances than I will.

Information About Brokerage Services
Texas Real Estate Commission Consumer Protection Notice

Greenspoint Mall is officially coming down
Demolition began Tuesday at the former Greenspoint Mall at I-45 and Beltway 8. The mall, open from 1976 to 2024, will become CityNorth Industrial Park, a $150 million, 80-acre site for logistics, distribution and manufacturing. The first phase is expected by early 2028, with developers projecting about 1,200 full-time jobs.
Source: Click2Houston

The I-10 HOV connector downtown is closed, for a long time
The I-10 HOV connector between Studemont and downtown closed Oct. 9 for TxDOT’s White Oak Bayou reconstruction, and it’s staying closed for a while. Eastbound should reopen in fall 2027, westbound in summer 2028. Katy-corridor park-and-ride riders and west-side carpoolers should check METRO alerts and expect their commute to change.
Source: Fox 26 Houston

The city is putting two downtown buildings up for sale
City Council voted to let Cushman & Wakefield list two downtown buildings: the police headquarters on Travis and the public works building on Walker. Officials cite water damage, broken elevators and rats. Both departments are relocating to the former Continental Airlines building, bought for $55 million in August. Nothing’s sold yet.
Source: ABC13

Houston wants to be Texas’ film capital
Houston First released a five-year plan to grow Houston’s film and media industry, aimed at drawing larger, more frequent productions to town. Its city incentive program has awarded nearly $400,000 to seven productions, including Netflix’s “Mo,” generating an estimated $61 million-plus in economic impact. Three more productions applied this year.
Source: Houston First

Weather: warm and mostly dry, with a small chance of rain. (🌳 = OUTDOORS, 🏠 INDOORS)

🌳 Red, White & Roar International Lion Dance Championships
More than 40 teams from around the world compete in traditional and high-pole lion dancing, with acrobatics on elevated poles. It’s the first major international championship of its kind held in the U.S.
📍 POST Houston, 401 Franklin St. · Fri–Sun, Oct. 16–18 (Fri 11:30 a.m.–7 p.m., Sat 9 a.m.–9 p.m., Sun 9 a.m.–7 p.m.) · Details

🌳 Nigeria Cultural Parade & Festival
A parade, traditional dance, live music and food (jollof rice, peppered suya) celebrating Nigeria’s independence and Houston’s Nigerian community.
📍 Discovery Green, 1500 McKinney St. · Sat, Oct. 17, noon–7 p.m. · Free · Details

🏠 Undercurrents at the Buffalo Bayou Park Cistern
A mile of glowing LED cable runs between 221 concrete columns in an old underground reservoir, and your voice changes the lights and sound. Tours are 30 minutes. Reservations are required, so book before you go.
📍 105-B Sabine St. · Fri–Sun, Oct. 16–18 (check timed slots) · Ticketed · Details

🏠 Affordable Art Fair
It’s the fair’s first time in Houston: 55 galleries and work from 350+ artists, with original pieces starting at $100, plus workshops and family activities.
📍 George R. Brown Convention Center · Fri–Sun, Oct. 16–18 (Fri noon–8, Sat 11–8, Sun 11–6) · $20 plus fees · Tickets

🏠 PlantCon Houston
Two hundred vendor booths of rare tropical plants, workshops and talks from plant experts. You’ll probably come home needing another shelf.
📍 NRG Park, Hall D · Sat–Sun, Oct. 17–18, 10 a.m.–6 p.m. · $39 plus tax for a two-day pass in advance; Sunday-only from $30 · Details

🏠 Disability Comic Con
A comic convention built for fans with visible and invisible disabilities, with cosplay, gaming, vendors and a Bumblebee meet-and-greet.
📍 Bad Astronaut Brewing, 1519 Fulton St. · Sat, Oct. 17, 10 a.m.–4 p.m. · Ticketed; kids 12 and under free · Details

🏠 Monster Jam
Twelve-thousand-pound trucks, including Grave Digger and El Toro Loco, doing jumps, races and freestyle at NRG. The afternoon Pit Party gets kids right up next to the trucks.
📍 NRG Stadium · Sat, Oct. 17 · Pit Party 2:30–5:30 p.m., show 7 p.m. · Ticketed; Pit Party sold separately · Details

Would love to see if you chose one of our recommendations. Reply to us here and let us know.

Own a Houston business? Let’s talk. HTX Signal reaches Houstonians who actually want to know what’s happening in their city, where to eat, what’s being built and what to do this weekend. If you’d like your business in front of them, reply PARTNER and let's talk about what that could look like.

See you next Thursday.

You're getting this because you signed up for HTX Signal. Every Thursday.
Got a tip, a correction, or something opening in your neighborhood? Just hit reply.