Wait to buy a home?

Life long renter, transferring to H town for work. My budget would be like 225-270. But I realize that the market is booming.

I’m fine with renting for a few years in hope prices will drop, but then interest rates would theoretically rise? Any insight in Houston market is appreciated, I’d like to stay near or inside beltway 8.

No interested in Katy, sugar land, etc.

My work is near deer park