Neighborhood in Houston, Harris County

Living in Terraces on Memorial, Houston

B+

118th of 320areas in Houston
Overall score 74 of 100 vs Texas neighborhoods
Houston overall: D+

Terraces on Memorial is a neighborhood in Houston, TX, home to about 2,900 people. It gets a B+, in the top 28% of Texas neighborhoods, and ranks 118th of 320 areas we score in Houston. It does best on education levels and worst on home ownership.

  • Pricey
  • Lots of parks
  • Cost of living scores low (16 of 100)
  • Home ownership scores low (9 of 100)

Closest everyday places

Grocery store0.7 mi
Pharmacy0.3 mi
Park0.2 mi
Cafe0.7 mi
Restaurant0.2 mi
Gym0.8 mi
Hospital or urgent care0.9 mi
Childcare0.5 mi
Library1.4 mi

Straight-line distance from the middle of where people live. Overture Maps.

Population
2,940
Median rent
$2,320
Median home value
$433,000
Household income
$97,700
Average commute
25 min
Homes owned
37%
Loading map

What it's like to live in Terraces on Memorial

Terraces on Memorial is a neighborhood in Houston with about 2,900 residents, mostly newer homes (median year built 2002), a mix of owners and renters and 32% of households with children.

It grades B+ against every neighborhood in Texas and ranks 118th of 320 areas in Houston, which grades D+ overall.

Pros of living in Terraces on Memorial

  • Higher incomes. The median household earns $97,700, 51% higher than the Houston median.
  • Well-rated schools nearby. 3 of the 3 closest public schools are rated A or B.
  • Groceries close by. The nearest grocery store is about 0.7 miles from the middle of the neighborhood.
  • Parks within walking distance. The closest park is about 0.2 miles away.

Cons of living in Terraces on Memorial

  • Pricier rent than the city. Median rent is $2,320, 70% higher than the Houston median.
  • Natural hazard risk. FEMA rates the risk of river flooding, hurricanes and tornadoes as very high in this part of town.

Terraces on Memorial report card

Each grade compares Terraces on Memorial with every neighborhood in Texas. Safety is not graded for single neighborhoods because police report crime for the whole city.

  • Cost of living: grade D-

    Median rent $2,320, homes cost 4.4x income.

    16 of 100 vs TX areas

  • Jobs and income: grade C

    Median household income $97,700, 4.1% unemployed.

    46 of 100 vs TX areas

  • Schools: grade A-

    Nearby schools average 88 of 100 on the state rating.

    83 of 100 vs TX areas

  • Safety: no grade

    Citywide, 884 violent crimes per 100k, 3,828 property crimes per 100k.

    No score vs TX areas

  • Errands and things to do: grade B-

    Most everyday stores and services within a mile of homes.

    63 of 100 vs TX areas

  • Getting around: grade B-

    Average commute 25 min, 23% work from home.

    58 of 100 vs TX areas

  • Education levels: grade A

    71% have a bachelor’s degree.

    93 of 100 vs TX areas

  • Health: grade A-

    8.3% of adults uninsured.

    85 of 100 vs TX areas

  • Home ownership: grade D-

    37% of homes owner-occupied.

    9 of 100 vs TX areas

  • Internet access: grade B-

    94% of homes have broadband.

    56 of 100 vs TX areas

Terraces on Memorial compared with Houston

Better than Houston

  • Adults with a bachelor's degree or higher: 71%34 points higher than Houston (37%)
  • Median household income: $97,70051% higher than Houston ($64,813)
  • Adults 18 to 64 without health insurance: 8.3%16 points lower than Houston (24%)

Worse than Houston

  • Median rent: $2,32070% higher than Houston ($1,361)
  • Renters paying 30%+ of income on rent: 61%7 points higher than Houston (54%)
  • Homes owned by the people living in them: 37%5 points lower than Houston (42%)

Closest public schools

Texas Education Agency 2025 ratings. Check the attendance zone for any address with the district.

  • ABush ElementaryElementary, Houston ISD0.7 mi
  • BWest Briar MiddleMiddle, Houston ISD0.7 mi
  • BWestside High SchoolHigh, Houston ISD0.8 mi

Cost of living in Terraces on Memorial

Median rent in Terraces on Memorial is $2,320 a month, 70% higher than the Houston median. A household would need about $93,000 a year to keep that rent at 30% of income.

The median home is worth $433,000, 56% higher than the Houston median, which means a monthly payment of about $2,888 with property tax at today's mortgage rates.

MeasureHereHoustonTexas
Median rent70% higher than Houston$2,320$1,361$1,403
Median home value56% higher than Houston$433,000$277,800$283,800
Home value to income3% higher than Houston4.4x4.3x3.6x
Renters paying 30%+ of income on rent7 points higher than Houston61%54%52%
Homes owned by the people living in them5 points lower than Houston37%42%63%
Vacant homes4 points higher than Houston15%11%9.4%
Median year homes were builtAbout the same as Houston200219821992

Monthly cost to buy a median home

$2,888
Mortgage payment
$2,370
Property tax
$518
Median rent, for comparison
$2,320

Based on a $433,000 home in Terraces on Memorial, 20% down and a 30-year loan at 7.28% (Freddie Mac average, week of 2026-10-01). Property tax is the median for the surrounding Census tract, or the county where that is not published. Insurance and fees are not included.

Work, income and getting around

MeasureHereHoustonTexas
Median household income51% higher than Houston$97,700$64,813$78,476
Unemployment rate3 points lower than Houston4.1%7.0%5.3%
People below the poverty line5 points lower than Houston14%20%14%
Adults with a bachelor's degree or higher34 points higher than Houston71%37%34%
Average commute7% lower than Houston25 min27 min27 min
Workers who work from home10 points higher than Houston23%13%14%
Workers who walk, bike or take transit3 points lower than Houston2.4%5.7%2.6%
Homes with broadband internet4 points higher than Houston94%90%91%

Natural hazard risk

FEMA National Risk Index for the Census tracts in this area.

  • River floodingVery high
  • Coastal floodingVery low
  • HurricanesVery high
  • TornadoesVery high
  • HailLow
  • Heat wavesHigh
  • WildfiresLow
  • Winter stormsVery low
  • Strong windLow

Who lives in Terraces on Memorial

Under 1823%
18 to 3422%
35 to 6430%
65 and over26%
Race and ethnicity
White38%
Hispanic or Latino11%
Black17%
Asian31%
Other or more than one race3.1%

Shown for information only. It is never part of any grade.

Other neighborhoods in Houston

  1. 1A+Washington Avenue Coalition / Memorial ParkMedian rent $3,230
  2. 2A+Boulevard OaksMedian rent $1,940
  3. 3A+BraeswoodMedian rent $1,360
  4. 4A+Washington Avenue CorridorMedian rent $2,080
  5. 5A+Mandell PlaceMedian rent $1,210
  6. 6A+Westwood GroveMedian rent $2,100
  7. 7A+Kings Point
  8. 8A+Palisades ParkMedian rent $3,020

Similar neighborhoods in other cities

Areas elsewhere in Texas with the closest mix of grades.

  1. B+Hardrock CanyonAustin
  2. B+Whisenant EstatesAllen
  3. A-Valley RanchIrving

Questions about Terraces on Memorial

Is Terraces on Memorial a good place to live?

Terraces on Memorial is a neighborhood in Houston, TX, home to about 2,900 people. It gets a B+, in the top 28% of Texas neighborhoods, and ranks 118th of 320 areas we score in Houston. It does best on education levels and worst on home ownership.

How much does it cost to live in Terraces on Memorial?

Median rent in Terraces on Memorial is $2,320 a month, 70% higher than the Houston median. The median home is worth $433,000, 56% higher than the Houston median. A median home costs 4.4x the median household income, compared with 4.3x across Houston.

What schools serve Terraces on Memorial?

The closest rated public schools are Bush Elementary (elementary, rated A), West Briar Middle (middle, rated B) and Westside High School (high, rated B). School zones can differ from the closest school, so check with the district.

This area is built from 2 Census block groups closest to the Terraces on Memorial name on the map, so its edges are approximate. Sources: US Census Bureau 2020-2024 ACS 5-year, CDC PLACES 2025, Texas Education Agency, FEMA National Risk Index, Overture Maps. How we grade.