According to the new figures from the US Census Bureau, 5 out of 10 of the fastest growing cities in the U.S. are in Texas.
3 out of 5, in terms of percentage growth as proportionate to size, are also Texas cities.
4 of the the top 10 metropolitan areas for job growth in 2013 are in Texas.
The number of people moving to Texas from other states and abroad far outweigh any other US city. Here are 7 major reasons why:
1.) Jobs
“The number one reason people move to Texas is for employment opportunities. Oil and Gas has helped propel Texas into an economy of its own. More recently, growth has also been strong is tech, manufacturing and business services as well. When looking for a quality high-wage, blue-collar job with potential for growth, Texas is one of the first places job-hunters may want to look. Fewer regulations and a more friendly government leads to generally a much better business attitude and environment.
2.) Low Cost of Living
These expenses include consumer prices, utilities, transportation costs, and most importantly, housing prices. High gross income won’t amount to much if cost of living is high as well. Looking at the average incomes in the country’s 50 largest metro areas and adjusting for cost of living, Texas metro areas rank among the best.
3.) Homes
Land is abundant in the great state of Texas paired with cheaper labor costs, leaving overall housing low and affordable while also leaving room for higher appreciation. This has helped shield Texas from the recent housing dip and Real Estate crisis.
4.) Low Taxes
Residents in the state of Texas pay no personal state income tax. There are also a number of tax incentives for businesses as well. Property tax rates are higher, but are calculated based on market value, which is low (see #3), helping to keep overall tax burdens in Texas low. In fact, only 5 other states can say they have a lower tax burden than Texas.
5.) Texas Cities
Texas has 6 of the countries biggest cities. You can choose from Dallas, Fort Worth, Austin, Houston, San Antonio, or El Paso. Everything truly is bigger in Texas.
6.) Family-Friendly
Because of the abundance of land and space, Texas has been popular with families. To go along with good schools, beliefs, a reasonable mortgage, and more bang for your buck, you can see why Texas is so family friendly. Southern hospitality doesn’t hurt either.
7.) Texas Residents Stay Texas Residents
3 quarters of adults born in Texas still live here. Most come for a job, but once they stay for a while, you find its a great place to live and raise a family for all of the reasons listed above. If you are thinking about moving to Texas, give us a call. We are here to help and will point you in the right direction!
by DAN CAMPANELLA, Broker/Owner @ R.E.INVEST Brokerage, LLC. on September 26th, 2013.