Katy

Ready to Invest in Katy, Texas? Here’s What You Need to Know

The city of Katy, TX was settled in 1872 by families who were looking for cheap land in the wild country of Texas. With nothing but their dreams for a better life, these families boarded the Missouri-Kansas-Texas railroad to reach their destination – an empty prairie roamed by buffalo, ducks, geese, deer, and longhorn cattle.

Originally known as Cane Island (named after the creek that runs through it), Katy is located along highways 10 and 90 where the counties of Waller, Harris, and Fort Bend intersect. Katy is just 25 miles from downtown Houston.

Legend has it that the city got its name from the M-K-T Railroad, but others say the city was named after a saloon keeper’s wife who was always there to greet the train travelers with a much needed alcoholic beverage.

Most of the families that settled in Katy came from Iowa, Illinois, and Missouri, while some came from Nebraska, Kansas, and Indiana.

The town was made known by a real estate aficionado named Adam Henry Stockdick. He was hired by the railroad and knew exactly how to market the city to potential investors looking to buy land. He realized that it was better to show the city to people in spring and fall because those who came in the summer only saw mosquitos, heat, and humidity that almost always drove them away.

Those who did stay to purchase land in Katy began growing a variety of crops, and out of all the crops grown, the one that turned out the best was rice. Because the land was extremely fertile, rice farms popped up all over the city.

Rice Wells Turned Into Swimming Pools

In the mid-1900s, it was so hot that many people found an innovative way to cool off in Katy. The farmers would pump ice cold water into a pool that pushed the water through long canals to water the rice fields. So people began jumping into these pools to cool off.

Most of the children who went to school in Katy did so at home or gathered in a one-room country school nearby. The first official school was built in 1909, and many of the educators in Katy had a real advantage in teaching the kids because they actually lived with some of the families and knew the kids really well.

Human Kindness Was Born From Disaster

On September 8, 1900, the worst hurricane in US history, known as the Galveston Hurricane, obliterated the gulf coast with powerful 120 mile per hour winds that created 20-foot waves, killing thousands. Nobody from Katy died, but the town was destroyed and because lumber was a scarce resource, people would have to tear down destroyed buildings in order to gather all the lumber they could to build new homes and stores.

The residents of Katy worked together to pool their resources and shared everything they had in the way of food, clothing, and basic necessities with those who had lost everything.

Household Income in Katy, Texas Is Higher Than the State Average

The per capita income in Katy was $30,848 as of 2014, which is much higher than the Texas state average of $26,513. Katy’s median household income is $73,006 and that number has grown by over 42 percent since the year 2000. The growth rate of Katy’s median household income is also higher than the state’s rate, which is just over 31 percent.

Katy Has Great Schools and Ranks High

With 38 primary schools, 13 middle schools, 7 high schools, and 4 alternative schools, Katy Independent School District ranks 199th of 932 Texas school districts, making Katy a great place to educate your children.

In 2016 alone, Katy Independent School District students performed better than 87.2 percent of all other school districts in Texas.

Greatschools.org rates the majority of schools in Katy with a high score of 8-10, making Katy, Texas a wonderful place to live if you have children.

Katy Independent School District has 70,330 students and they spend approximately $7,143 per student each year. The school district offers a reduced price lunch for students, and 29 percent of students receive this lunch.

Fun Activities and Attractions in the Area

• Typhoon Texas. Nothing beats the Texas heat like a good water park. Typhoon Texas is a relatively new water park that offers fun for everyone. They have water slides, a wave pool, swimming pools, food, and drinks – you can even host a birthday party at the park. They offer season passes as well.

• KCAM Contemporary Art Museum. This is an arts and culture museum with rotating exhibits that also hosts artists’ talks, and a really neat gift shop for souvenirs.

• Katy Heritage Museum. The Katy Heritage Society is a 501(c)3 nonprofit established in 1979 that works to preserve the historic resources of Katy for future generations to enjoy.

• Katy Market Day. This event is hosted on the third Saturday of every month; it’s a beautiful way to spend some time outdoors exploring various creative vendors offering a variety of products like exotic plants, antiques, jewelry, art, handmade soap, honey, clothes, and so much more.

• Golf Courses. If you’re a golf fan, you can find golf courses located around the Katy, Texas area.

• Jumpstreet. You can get your exercise in and have a blast at this trampoline park.

Fun Family-Friendly Hosted Events in Katy

Katy is filled with entertainment for the whole family, and you can find current activities posted to KatyMagazine.com – the website extension of the city’s magazine. Among these events are:

• Live music at Las Alamedas. Las Alamedas is a restaurant and bar.

• Houston Ride ‘n Shine Car Show. Hosted every month by the GTRBros group, this free car show provides a place for car enthusiasts to gather and show off their pride and joy – and provides fun for the whole family.

• Movies in the Courtyard. Every Saturday evening, family-friendly movies are presented by the Alamo Drafthouse. People bring their own food, or eat at nearby restaurants before heading over to the courtyard with their blankets to relax and be entertained.

• Holiday events like Easter egg hunts for families and strawberry picking.

• Silent auctions to benefit schools.

Real Estate in Katy, TX

The median home price in Katy is currently $338,000 with a median closing price of $168,000. Houses in Katy tend to be on the market for less than two months before being sold.

Landlord-Friendly Laws In Katy, Texas

Texas is known for its landlord/owner friendly laws that tend to favor the landlord, and that means you’re well protected if you’re purchasing a property to rent out. If a tenant violates their lease agreement, the law allows for a quick and efficient process to remedy the situation.

For example, if a tenant doesn’t pay their rent or brings a pet on the property against the terms of the lease, the landlord can give a 3-day notice to vacate and does not have to give the tenant options to pay the rent or get rid of the pet.

Growing Population is Good News for Investors

Pittsburgh used to be one of the fastest growing cities, but Katy has now surpassed Pittsburgh and has been growing at a steady rate of 4-6 percent with 309,556 people as of 2015. In just the last 15 years alone, the population has grown by over 200,000 people.

The economy in Katy is thriving and people are moving from all over to take advantage of job opportunities and great schools. Even businesses are relocating to Katy. This makes Katy one of the best places to own a home in Texas.

Contact Green Residential for More Information

Green Residential is a property management company with extensive experience in the Houston area. With over 30 years of experience, we can help you manage your property, no matter where you live. We offer tenant screening, rent collection services, and access to qualified maintenance and repair professionals you can trust.

Contact us today to find out more about our services.