Analyzing Low-Cost Point Guards for the Rockets in NBA Free Agency

Houston desperately needs point guard depth, but the price tag is just as important.

Feb 21, 2026; New York, New York, USA; New York Knicks guard Jose Alvarado (5) drives past Houston Rockets guard Reed Sheppard (15) in the fourth quarter at Madison Square Garden. Mandatory Credit: Wendell Cruz-Imagn Images | Wendell Cruz-Imagn Images

The Houston Rockets won't be the biggest spenders this NBA free agency, but the moves they make in that period could carry just as much weight as any signing this offseason.

The Rockets are playing a tier under the Oklahoma City Thunder and San Antonio Spurs with their current roster. They have glaring holes in the rotation, and whether it be injuries or just poor production, it was a disappointing season, and changes have to be made.

Houston could certainly go all in on a star for the second year in a row. Around this time in 2025, the organization gave up low-risk assets for Kevin Durant, but a player of that caliber or higher will cost more. Rafael Stone and the front office can pivot toward increasing depth, which isn't a poor decision in the slightest.

Regardless of where the Rockets take this offseason, the biggest need comes at the point guard position. Fred VanVleet's ACL tear left them without a true point guard, and as a result, they finished the season 27th in turnover percentage.

William Guillory of The Athletic was asked about potential point guard options for Houston in free agency. The Rockets, who also have to worry about Tari Eason's restricted free agency and Amen Thompson's looming contract extension, are expected to fill out the back of the roster with minimum deals, but some of those could be at the one.

Guillory listed four low-cost free agents the Rockets could target: Jose Alvarado, Keon Ellis, Gabe Vincent and De'Anthony Melton. Ellis, in particular, would be a fantastic perimeter defender to add, averaging over a steal per game the last three seasons as a high-level disruptor.

"Ellis fell out of the rotation after being traded to the Cleveland Cavaliers around this season’s trade deadline, but he’s a young player who will generate some interest in free agency," Guillory wrote. "My bet is he gets more than a minimum deal, but he’d be an amazing fit in Houston for the right price."

Alvarado is another pest who could bring a new sense of energy to Houston's locker room. The New York Knicks' backup point guard could earn slightly more money if the Rockets enter as a bidder if he declines his player option for a long-term contract. He hasn't been given a ton of minutes this playoff run, but he has been a consistent two-way contributor to a historic team.

"If the Knicks’ Alvarado hits the market, his energy on the court and his presence in the locker room would be an excellent fit in Houston," Guillory wrote.