Why People are Moving To Texas
According to a recent article published in Time Magazine, Texas is the future of our great nation. It's not a coincidence that so many people are moving to Texas. There are more jobs in the Lone Star State, as well as cheaper housing, lower cost of living, and many other factors that have led to a Texas migration over the past few decades.
According to the Time Magazine cover story, Texas is the fastest-growing state in the country. Three Texas cities, Austin, Dallas and Houston, are in the top 5 of the nation's fastest-growing cities. Approximately 106,000 people migrated to the state in 2012, and since 2000, approximately 1 million more people have moved into the state than have left it. In the past two decades, over 4 million Californians have relocated to the Lone Star State.
One reason that so many people are hopping state lines is that the housing is significantly cheaper than other parts of the country. According to the Austin Board of Realtors, the median home price in Austin last month was $223,000. In Brooklyn, NY, a typical home is priced at over half a million, and most likely is a condo or apartment.
Housing isn't the only thing that is cheaper in Texas. The cost of living in the state is also typically lower than other areas. With current gas prices around $3 a gallon in the Lone Star State, and higher per capita income as well as factors like state and local taxes, Texas is ranked in the top for adjusted average income levels.
Job availability is also plentiful. Texas has added 12% of the total new jobs nationwide, with nearly 275,000 positions created in the past year. Astoundingly, Time Magazine reports that in 9 years, Texas has held almost a third of the nation's highest-paying positions. This is impressive, especially since the state holds only about 8% of the country's population.
The team at Cain Realty Group with Keller Williams Realty has definitely noticed an increase is people relocating to the Austin area over the past few years. With more job availability, cheaper land and housing, and an over-all lower cost of living, it's no wonder so many out-of-state residents want to move to Texas. If your or anyone you know is looking to relocated here, please contact our office immediately at 512.794.6601 to learn more about how our Austin real estate team can help you.