Here’s the question, should you move to Texas vs. California? With its low cost of living, attractive job market, and quality of life people from all over the country are relocating to Texas. Nationwide Texas ranked second for incoming residents in 2016 according to the newest Texas Relocation Report, published annually by the Texas Association of Realtors. And, the state of California led the charge. As the marketing manager at the master-planned community of Travisso, Kathy Mayer, has been tracking the California migration. “We have seen a major uptick in buyers from California especially in the last couple of months,” says Mayer.
By the numbers 69,945 new Texas residents hailed from California. Those counties seeing the most gains are in the North and Central part of the state. In North Texas the counties of Dallas, Tarrant, Collin and Denton leads the way. While in Central Texas, Travis, Williamson and Bell counties are reporting the highest gains of Californians. Following Californians are people from the states of Florida, Oklahoma, Louisiana, and Illinois.
After all, for those that have already made the move, I’m sure that they’ll agree, Texas, and especially the city of Austin, is a great place to hang your hat. And, you don’t even have to be from California to reap the benefits. So, here’s the top financial reasons why Californians and others are moving south to Texas.
Daily living expenses are higher in California vs. Texas
The cost of living is lower. Texas has an attractive cost of living. For those with families it can be very affordable. And, being able to afford the basics of daily living is primarily why people move to areas that allow them to gets the most for their buck. In an article published by Investopedia, when comparing the costs of necessities such as food, child care, medical, transportation and shelter, Texas won hands down over California. Check out the full article here. U.S. News and World Report’s Best States for Affordability ranks Texas as #24 compared to California’s ranking of #49. State sales tax is also higher in California at 7.25% compared to 6.25% in Texas.
There is no state income in Texas. As a matter of fact, Texas is one of seven states in the U.S. that does not tax income. California vs. Texas? At 13.3% California’s state income tax is the highest in the nation. Moreover, for retirees in Texas having no state income tax is a huge plus. And, it’s also a win for millennials that want to buy a home. The extra cash in their pockets translates into down payment savings. However, there are cons for those living in states with no income tax. The cons may include higher sales, property and excise taxes.
You can buy more house for your buck in Texas
A strong 2018 housing market. USA Today ranks Texas No. 2 just behind Nevada as a top destination for housing and affordability. And, When it comes to getting more home for the price, Texas is the winner here again. Check out Zillow’s stats to compare California home values to the home values in Texas. You can purchase more house and property for your money in Texas than in California. If you are moving to Austin the median price of a home is $299,900.
Jobs, Jobs, Jobs. Employment prospects in Central Texas and particularly in Austin are plentiful. Government and tech jobs reign. The University of Texas is also a top employment provider. However, Austin’s tech industry continues to be the top draw for people moving from California to Texas. On Austin’s tech hill resides top-tier tech companies such as Amazon, Facebook, Apple, and Google. And, let’s not forget Dell in Round Rock. Also known for its creativity and innovation, Austin is a mecca for digital startup companies. If you want to start your own company you’ll have plenty of company. Last year alone Austin’s top 100 startups added 7,000 new employees.
Other reasons why you should move to Texas
Everything’s bigger in Texas. There’s no doubt you’ve heard our state motto. So, when it comes to being “big” the state itself takes the top spot in the continental U.S. From the largest cowboy boots in San Antonio to Big Tex to King Ranch to donut and cinnamon rolls there’s plenty of roadside attractions and food to fill weekends and one-day trips.
Southern hospitality. Texas pride runs deep. Here, Texans love Texas and they’ll tell you so. And, they’ll also take the time to welcome you, tell you the best places to go and eat, where to shop, what festivals to attend, and where to find the best places to hear music. Now, that’s hospitality.
Austin ranks No. 6 as The Best Cities to Raise a Family in 2018. And according to SmartAsset, the primary reasons why is because of Austin’s quality of schools and positive economic conditions.
Buy a New Travisso Home Today
Do you need a home now? Check out Travisso’s list of available move-in ready homes. Travisso is a place to explore; a place to relax; a place to call home. With over-the-top amenities, fabulous home designs, natural beauty, and the backdrop of the Texas Hill Country, what’s not to love? Visit Travisso for more details or contact our information center at 512-243-8583.