Skip to main content

Partnership Research Releases 2022 Houston Facts

Published Sep 26, 2022 by A.J. Mistretta

Skyline of Downtown Houston

HOUSTON (September 23, 2022) – How does Houston’s economy stack up against other major cities? How does trade with countries abroad affect our economy? Is our innovation ecosystem keeping pace with other major cities? 

Those are just a few of the many questions answered in the 2022 edition of the Partnership’s Houston Facts publication. Houston Facts has presented unvarnished information about the Houston region since 1959, and its predecessor publications—under different names, but with the same objective—date back to 1906. Today, Houston Facts is a concise, comprehensive almanac for the Houston region. 

Here are a few highlights from this year’s edition, developed by the Partnership’s Research team and presented by Fifth Third Bank. 

Here are a few highlights:

Demographics

The Houston region is home to 7.2 million people and had the third largest numeric increase in population of any U.S metro between July 2020 and July 2021, according to the most recent Census figures. Houston is also home to many people who were born outside of the U.S. – nearly one in four Houstonians, or 1.65 million residents, are foreign-born. Learn more about Houston’s demographics on page 8 of the report. 

Cost of Living

When it comes to affordability, Houston is really high on the list. The region is the second most affordable major metro among the nation’s 20 most populous metropolitan areas. Our living costs are over 27 percent below the average of those 20 metro areas, and our overall living costs are 5.9 percent below the average for all U.S. metros. Housing costs are also a standout for Houston – they’re more than 53.7 percent below the average for the nation’s most populous metro areas and 18 percent below the average for all U.S. metros. Learn more about Houston’s cost of living on page 43. 

Economy

Houston has returned to pre-pandemic employment levels. Nonfarm payroll employment topped 3.2 million in July 2022. That’s 59,000 above the previous employment record set in November 2019. The recovery has been uneven though. Twelve sectors have fully recovered their pandemic losses, two sectors are close to full recovery and two sectors in particular are still struggling. Learn which ones on page 13. 

International Business 

Houston’s economy is deeply tied to global trade and foreign investment. The region has trading relationships with more than 200 countries. The Houston/Galveston Customs District handled 269.4 million metric tons in exports valued at $170.4 billion in 2021. Eighty-seven nations have consular representation in the city, ranking Houston’s consular corps third largest in the nation. 

Innovation 

Houston is a thriving hub of digital tech talent, with more than 243,400 tech workers representing 7.9 percent of the region's workforce, according to an analysis by the Greater Houston Partnership. Houston is home to 8,800 tech related firms, including more than 800 venture-backed startups. These companies have received $4.35 billion in venture capital funding over the last five years including $2.02 billion in 2021 alone, a record high for the region. In 2021, the most heavily invested industry for VC funding in Houston was information technology, which received $632.1 million across 64 deals. Health care followed, with $518.4 across 67 deals. Materials and resources came in third, with $426.5 million in funding.

Find out more about education, the energy and life sciences industries, transportation and other facets of Houston in Houston Facts
 

Related News

Economy

Fifth Third Bank: Houston Well-Positioned to Withstand Economic Headwinds

4/28/25
Fifth Third Bank Chief Economist Jeff Korzenik is forecasting the Houston region and the U.S. will grow this year and avoid a recession. Despite growing concerns around inflation, labor shortages, and interest rate uncertainty, Houston stands out as a region poised to weather potential economic headwinds.  In a recent economic outlook presentation during the Greater Houston Partnership's Economy Series event, Korzenik offered reasons why Houston is better positioned than many U.S. cities to remain resilient in the face of macroeconomic challenges: Strong Consumer Spending Power  While inflation remains elevated – particularly in rent, food and energy – aggregate household debt levels are relatively low, reducing the risk of widespread financial distress. Population Growth and Business Climate  Texas continues to offer a pro-business environment, with Houston at the forefront of population growth and continued attraction of corporate headquarters. Houston ranks No. 1 in job growth, ahead of Dallas, Philadelphia, and Phoenix, and No. 2 in population growth over the past decade and year-over-year. Houston also leads in growth among residents under 18, has the highest two-year GDP increase at 25 percent, and remains the No. 1 exporting metro.  Click to expand   According to Fifth Bird Bank's Empowering American Cities' regional economic snapshot, "compared with other large extended-metropolitan-areas, Houston is in the top third, with projected GDP growth above the U.S. average." The key industries expected to drive growth include health care, energy, logistics and manufacturing. Manufacturing Momentum  Manufacturing shows potential as a growth engine, especially with reshoring efforts. However, Korzenik said uncertainty around trade policy could slow momentum because businesses need stable rules to plan long-term investments.  Fifth Third Bank Chief Economist Jeff Korzenik presents economic outlook at Partnership's Economy Series event on April 23, 2025. Korzenik said he’ll be keeping a close eye on unemployment claims, which if it gets to 400,000 – 500,000 weekly claims, could be an indication of a recession. While broader national risks remain on the radar, Houston’s demographic strength, business climate and economic diversity provide strong insulation. You can learn more about Houston's economy and why companies continue to choose Houston during the Partnership's upcoming State of Houston's Global Economy event on May 1, 2025.
Read More

Related Events

Economic Development Event

State of Houston's Global Economy

Houston has long served as a gateway to the world—home to one of the nation’s busiest ports, a major hub for foreign-owned companies and a launchpad for innovation that reaches global markets. Today, the region is…

Learn More
Learn More
Executive Partners