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People are on the move…to Texas. The Lonestar State earned the status of Leading Growth State in 2021 by U-Haul, as it had more one-way trucks entering its borders than any other state last year. Census data backs the leading moving company’s business observation. In 2021, Texas saw the largest annual population gain of any state with more than 170,000 people relocating there from other parts of the country. So, there must be many reasons why people think Texas is so great.
1. Booming Job Market
The Austin Chamber of Commerce reports that Texas’ capital city is the second-best major job market in the U.S. since the beginning of the pandemic.
With major corporations expanding in or relocating to Greater Austin, employment opportunities are abundant as more and more companies are moving to Texas. Tesla is expected to generate 10,000 jobs in Austin, Samsung is projected to bring more than 2,000 jobs to Taylor with its new chip factory, and a new 300,000-square-foot facility for tech company CelLink could bring up to 2,000 jobs over the next couple of years to Georgetown.
“I read articles daily about huge companies who were putting their headquarters in Texas,” says Meghan Hayes, who moved to Texas from Los Angeles last year. “After seeing the opportunity there, I was ready to relocate.”
2. Cost of Living
Homebuyers are getting more value in Texas than states they are relocating from like California, which is, based on 2019 Census numbers, the top move-to-Texas state. According to Zillow’s Home Value Index, a home in Texas costs $282,726, compared to $745,200 in California.
“I helped an Amazon employee from the San Francisco Bay Area purchase a home where he only saw it for the first time after already buying it and driving a U-Haul from California to Austin,” shares Job Hammond, Licensed Texas Realtor® of Dash Realty and Adjunct Professor of Real Estate at Austin Community College. “Today, after almost 2 years, his house has gone up in value by $700,000, which is really a huge selling point of purchasing a home here.”
Texas transplants who are not ready for home buying or who are renters by choice also enjoy lower monthly rents than the national average at $1,856, as reported by Zillow. According to the Zillow Observed Rent Index (ZORI), Dallas’ monthly average rent in January 2022 was $1,704 and Austin’s was $1,805.
3. Sunnier Days
Need more great reasons to move to Texas? Milder winters are a huge draw for relocatees from the Northeast who crave warmer weather year-round. Transplants from already-sunny states like California are drawn to the balance of job opportunities, reduced cost-of-living, and keeping their warm weather.
Tara Cesario, Licensed Texas Realtor® of Real Manors, who relocated from Illinois to Dallas 15 years ago says, “I don’t miss winter weather or driving in the snow and ice at all!”
Real estate agents recommend visiting before moving to Texas because the Lonestar State has a diverse climate.
“Austin is milder and more central, Houston is coastal and subtropical, and you have the drier desert out west,” says Hammond. “Take a trip out, evaluate and spend time … to really see which area suits you.”
4. Diverse Culture
According to a WalletHub report published in 2021, Texas is ranked as the 2nd most diverse state in the country after California.
“The food scene here [in Dallas] is alive and well with new restaurants opening regularly,” says Cesario. “Celebrity Chefs like Curtis Stone, Wolfgang Puck, and Tiffany Derry have made Dallas home to their restaurants.”
Live entertainment in cities is vibrant with large venues like Dos Equis Pavilion and American Airlines Center in Dallas, as well as more intimate venues in the suburbs like The Toyota Music Factory in Irving. Texas also is home to 13 major teams across different sporting leagues such as the Dallas Cowboys, San Antonio Spurs, Houston Astros, and Austin FC.
“There’s literally something here for everyone,” says Cesario.
As the state grows in population, one part of Texas’ charm will always ring true—its southern hospitality. “People don’t honk their horns. They’re friendly, they wave you in. The culture around here makes everyone calmer,” says Hammond. It’s no wonder the state’s motto is “Friendship.”
5. Investment and Opportunity
Texas is becoming a powerhouse state for equity as cities invest heavily in infrastructure and innovation to accommodate population growth. Elon Musk called Austin the biggest boomtown the U.S. has seen in 50 years.
“Austin is at the forefront of innovative building technology,” says Hammond. “Developers are building as fast they can and as smart as they can to accommodate the rapid demand for housing, while also pushing out into the suburbs with new plans for public transportation on the way.”
With the expansion of cities into surrounding areas, investment opportunities are growing for business owners and individual investors alike. A Texas relocation is great for your bank account.
“Tons of investors are targeting Dallas because they realize many people are moving here and want to get in on the real estate game as a landlords or flippers,” says Cesario.
If you’re moving to Texas and in between homes, awaiting new home construction, or looking for Texas corporate housing, learn more about AVE’s flexible-stay Texas furnished apartments in Austin and Dallas, with month-to-month options. We also have Texas long term rentals and luxury apartments available to lease in Austin and Dallas. Click on the links to book or review floor plans today!