Over the past decade Wazzu has won 50% of their P5 games, going 46-46.
Houston has won 56.3%, going 9-7. Given the small sample size and resulting large uncertainty, I'd say that's pretty close.
By comparison Oregon St has won only 29.2% of their P5 games, going 28-68. It's clear that Oregon St has been worse than Houston.
For those interested, BYU (after a boost from last season's success) is now up to 45.7% in their P5 games over the last decade, going 21-25.
Honestly, we probably shouldn't knock Houston as (over the last decade, not just the last 2 years) they probably have some sort of argument to be ahead of us (as far as on-field performance goes, not necessarily in prestige or rep)