Rice Military is the name for a neighborhood in Houston, Texas. It’s located just northwest of downtown and is generally considered to be the area bordered by Washington Avenue on the north, Shepherd Drive on the east, the Buffalo Bayou on the south, and Westcott Street on the west. For those looking for nicer properties near downtown Houston, Rice Military is quickly becoming a hot spot to live or invest.
Rice Military is located right in the heart of Houston’s Inner Loop. Residents of the area enjoy easy access to downtown, eclectic Montrose, Memorial Park, and the Galleria and Museum District, among other exciting neighborhoods.
The neighborhood’s name originates from nearby Camp Logan, which was a World War I-era training camp for the U.S. Army. The camp has since become Memorial Park, but the history still remains. The “Rice” portion of the name comes from the renowned Rice family – specifically William Marsh Rice, who left behind much of his estate to found local Rice University.
William Marsh Rice once owned all of the land that now comprises the Rice Military neighborhood, before selling it to Bankers Trust Co. The sale price was a mere $54,425 (which comes out to roughly $743,000 when you take current inflation into account).
Up through the 1980s, Rice Military was a quiet, conservative neighborhood with blue-collar homes, tree-lined streets, and classic Americana elements. In the early 1990s, some of the art scene that had long characterized the nearby Montrose neighborhood began to spill over into Rice Military. Ever since, this area has been in transition and property values have steadily increased.
At the turn of the century, a lot of Houston’s young professionals began to move into Rice Military. It was starting to be seen as a desirable area of town, thanks to its close proximity to restaurants, bars, and Memorial Park.
Over the years, Rice Military residents have worked hard to solidify the neighborhood and bring it up to par with other nearby Houston communities. And while this is still very much a neighborhood experiencing gentrification, it feels very settled.
The population of Rice Military is believed to be somewhere around 20,067 with a median age of 35.7. According to the Areavibes livability index, Rice Military gets an 87 – which is well above the Texas state average of 72 and US average of 70. That makes it the number two neighborhood in Houston and number seven in all of Texas. Here are some other interesting statistics and takeaways, courtesy of Areavibes:
Clearly, Rice Military has a lot going for it. And while it may not be as well known as other areas of Houston, it’s certainly worth a second look.
As you’ve probably gathered, Rice Military is a unique neighborhood in Houston. Along with this different vibe come a number of one-of-a-kind amenities, activities, and experiences. Here’s a subjective look at a few of the top ones:
Rice Military may not have some of the same flashy amenities that can be found in nearby downtown, but this neighborhood isn’t short on eccentricity or excitement.
Not only is the area highly walkable, but it’s also safe and comparatively quiet. From Thursday through Sunday, the nightlife scene definitely kicks things up a notch and there’s a lot to do.
Rice Military students are zoned according to the Houston Independent School District. Because it’s a relatively small area, all students are zoned to three schools: Memorial Elementary School, Hogg Middle School, and Lamar High School (which receives a 7 out of 10 on the GreatSchools rating scale). St Theresa School, a Roman Catholic K-8 school that’s part of the Archdiocese of Galveston-Houston, is also located in the Rice Military neighborhood.
Much like the rest of Houston, the Rice Military real estate market is alive and well. According to Areavibes, the median home price in the area is $333,650 (as of Spring 2017), which is 154 percent higher than Houston as a whole. As far as valuation goes, the median home value in Rice Military is 166 percent higher than Houston.
Interestingly, just 48.9 percent of Rice Military properties are owner occupied. This is a huge rental neighborhood with lots of young, single professionals leasing the many townhomes and apartments. The median rent is $1,027, which is 18 percent higher than the rest of Houston.
Over the last 10 years, home sales have increased by 142 percent, while the average price per square foot has gone up from $134 in 2003 to nearly $200 per square foot today. Land values are also increasing at an exciting rate, which bodes well for stability in the neighborhood. Inventory is usually fairly accessible, though top properties tend to stay on the market for less than two weeks before going under contract.
Whether you’re looking for a place to call home in Houston, Texas, or you’re eyeing investment opportunities to bolster your real estate portfolio, Green Residential can help. We’re the premier real estate service company in the Greater Houston area and have more than three decades of experience helping home buyers & property owners maximize their purchases and investments.
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