The shooting happened a little before 8 p.m. Tuesday in the courtyard of an apartment complex in the 4800 block of Allendale Road near Old Galveston Road.
Houston police said it appeared the two men were arguing when at least one of them pulled out a gun and started shooting.
Both men suffered from gunshot wounds and were taken to the hospital. One of the men was pronounced dead, while the other was taken into surgery and is expected to survive.
Police believe one of the victims may have been shot with his own gun, though the investigation is ongoing.
Investigators were talking to witnesses and looking for surveillance video in the area.