For what it's worth, I have a brother-in-law who went there for Dental/Ortho residency, I believe. While Houston isn't the most ideal place to live in the world, it has plenty to offer by way of conveniences and social life. As you said, cost of living is certainly as plus. Moreover, the School of PH is a fantastic looking campus and is well-known (again, this is mainly second-hand) in the health professions field for being top notch. Wouldn't be the worst place to to spend some time, especially if you're fresh out of options.
All the best.