Disclaimer: In order to make Wealthtender free for our readers, we earn money from advertisers, including financial professionals and educators who pay to be featured on our platform. Learn more about how we make money.
There are many reasons why so many people are moving to Texas everyday.
According to US Census Bureau data published in April 2021, Texas gained nearly 4 million new residents between April 2010 and April 2020. And today, the population of Texas is now more than 29 million.
Texas Facts: Population & Demographics
|Population estimates, July 1, 2019||978,908||1,343,573||2,320,268||1,547,253||28,995,881|
|Population, Census, April 1, 2010||790,390||1,197,816||2,099,451||1,327,407||25,145,561|
|Hispanic or Latino||33.90%||41.80%||45.00%||64.20%||39.70%|
|With a disability, under age 65 years, percent, 2015-2019||6.20%||6.70%||6.40%||11.10%||7.90%|
|Foreign born persons, percent, 2015-2019||18.80%||24.80%||29.30%||14.30%||17.00%|
(Source: US Census Quick Facts)
Fortunately, Texas is a big state, so there’s still room for you!
In this article, you’ll learn the top reasons why people are moving to Texas and useful tips and resources to help you get settled when you arrive.
Ready to get started? Giddy up!
Many People Move to Texas for a Better Job
Though not everyone is moving to Texas to find a new job, career opportunities are the number one reason people move to the Lone Star State.
Texas has become a powerful economic engine thanks to a thriving oil and gas industry, with Houston maintaining its leadership position as a leading energy capital. The strong economy has made it easier for people living in Texas to find job opportunities, with companies such as Dell, Exxon Mobil and Tesla adding more jobs daily.
While small businesses remain the lifeblood fueling job growth, Texas is also home to several Fortune 500 companies that employ tens of thousands in cities across the state. These companies include:
- Exxon Mobil
- Phillips 66
- Valero Energy
- Energy Transfer
- American Airlines Group
Technology companies have also added significant headcount in Texas recently, with headlines dominated by news of companies like Tesla, Google, Apple and Facebook significantly growing their presence in Austin.
With various sectors, including oil, education, engineering, business, healthcare, tourism, banking and technology, unemployment is not a significant issue relative to many parts of the country. Houston, Austin, and Dallas are home to many leading technology companies and brands focused on innovation that are producing new jobs for local residents.
Texas Facts: Income
|Median household income (in 2019 dollars), 2015-2019||$71,576||$52,580||$52,338||$52,455||$61,874|
(Source: US Census Quick Facts)
Despite the significant population growth every year, the vibrant Texas job market has been more than able to absorb the growth and still create new jobs for people moving to Texas.
The Lower Cost of Living Attracts Many People to Texas
Texas is known for its relatively low cost of living. Unlike other major US cities, paychecks go a long way in Texas. The lower cost of living in Texas is thanks to generally lower retail prices, transportation costs, utilities and housing.
But with home prices surging in Austin and its surrounding suburbs, the cost of living near the capital of Texas is no longer a bargain compared to other Texas cities.
In fact, with a median housing cost of $337,400 in 2019 vs. less than half this amount for a house in San Antonio not even 100 miles away, you may want to think twice before moving to Austin and expecting to find affordable housing like you may easily find in other Texas cities.
Texas Facts: Housing Costs
|Owner-occupied housing unit rate, 2015-2019||45.10%||40.90%||42.30%||53.90%||62.00%|
|Median value of owner-occupied housing units, 2015-2019||$337,400||$188,100||$171,800||$146,400||$172,500|
|Median gross rent, 2015-2019||$1,280||$1,052||$1,041||$992||$1,045|
|Households with a computer, percent, 2015-2019||94.90%||87.20%||89.20%||89.90%||91.00%|
(Source: US Census Quick Facts)
People Move to Texas for Lower Taxes
Texas is one of a few US states with no state income tax. This is also another reason why paychecks go further in Texas since many residents are able to keep more of what they earn.
This tax incentive combined with the low cost of living makes life in Texas even cheaper and more affordable.
However, there’s no such thing as a free lunch, and without a state income tax, you can expect to pay higher property taxes if you own a house in Texas.
The Warm Climate Attracts People to Texas
Many people moving to Texas are tired of the long, cold winters farther north. While Texas is a big state and weather conditions can vary significantly depending upon where you live, you’ll generally find most Texans brag about their local weather, or enjoy talking about their ability to cope with the heat on the hottest summer days!
While air conditioning bills can be quite large in the summer, you’ll find plenty of pools across Texas to keep you cool and popular beach destinations to visit from Galveston to South Padre.
Some People Move to Texas for a Great Public Education
Texans take education seriously and you’ll generally find a diverse range of public and private schools wherever you choose to live. Texas is also home to some of the largest higher education institutions, including Texas A&M University, the University of Texas, and other top-notch mid-sized private schools.
Texas Facts: Education & Technology
|Bachelor’s degree or higher, percent of persons age 25 years+, 2015-2019||51.70%||33.40%||32.90%||26.00%||29.90%|
|Households with a broadband Internet subscription, percent, 2015-2019||87.50%||76.60%||80.00%||79.10%||81.90%|
|High school graduate or higher, percent of persons age 25 years+, 2015-2019||89.40%||77.50%||78.90%||82.40%||83.70%|
(Source: US Census Quick Facts)
You’ll Feel Welcomed when Moving to Texas with a Family
Texas is a great place for families. Most cities in Texas boast family-friendly neighborhoods and you’ll often find spacious homes at an affordable price, family-friendly restaurants, good schools, and generally low living costs.
Good education options from elementary to middle and high school have also drawn many parents to Texas to provide their children with a quality education.
Parks, museums, entertainment events and other outdoor activities keep families busy in Texas, making the state a popular destination for people arriving from elsewhere.
When you hear of southern hospitality, you may already think of Texas. Tourists and visitors have found themselves going back to live in Texas because of the hospitality experienced during a prior visit.
Texas is Incredibly Diverse
According to WalletHub, Texas is the second most diverse state in the US. People from all walks of life are attracted to Texas for the job opportunities, warm climate, lower cost of living, lower taxes, affordable housing and a strong economy. If you enjoy learning other languages and immersing in different cultures, you’re going to love living in Texas.
Texans Enjoy Recreational and Outdoor Activities
The warm temperatures year-round are usually favorable for outdoor activities. During the mild winter months, you can bike and hike your way through the big cities that increasingly have pedestrian-friendly trails and green zones to create a more liveable environment for residents.
Useful Resources for New Texas Residents
Once you arrive in Texas, you’ll want to get settled in quickly so you can enjoy the best the State has to offer.
The following resources are useful no matter where you choose to live in Texas:
- Find a Job in Texas – WorkInTexas.com (A public service of the Texas Workforce Commission)
- Find a Home in Texas – HAR.com
- Starting a Business in Texas – Texas Economic Development
- Texas Department of Public Safety – Driver License Information
- Texas Department of Public Safety – Handgun Licensing (Welcome to Texas!)
- United States Postal Service – Change of Address
- Popular State Magazine: Texas Monthly
- Choosing Your Electricity Provider – Power to Choose (A public service of the Public Utility Commission of Texas)
- Learn About Famous Texans – FamousTexans.com (Yes, it’s not just Willie!)
- Texas Cities – Chambers of Commerce Directory
If you’re among the thousands of people who choose to move to one of the largest cities in Texas, you’ll find the following resources helpful.
Are You Ready to Call Yourself A Texan?
Whether your bags are packed or you’ve just arrived, Texas can be a great place to live. While life in Texas may generally cost less than living elsewhere, it can still be a a major adjustment impacting your budget and bottom line. Hiring a financial advisor can help you navigate the journey so you can enjoy your time in Texas with less money stress.
You’ll find financial advisors featured on Wealthtender based in Texas and others who can meet with you online no matter where you live today or tomorrow. Financial Advisors by City | Virtual Financial Advisors
You Might Also Enjoy
Why Social Security Timing Isn't About Maximizing Lifetime Benefits
Ten Things You May Be Forgetting to Include in Your Budget
7 Questions to Ask When Buying a Used Car
Financial Advisors Are Incentivized to Ignore You*
Inflation: Prices Keep Soaring – Which Ones Really Hurt You Most?
How To Carry Out An Annual Spending Review
Disclaimer: The information in this article is not intended to encourage any lifestyle changes without careful consideration and consultation with a qualified professional. This article is for reference purposes only, is generic in nature, is not intended as individual advice and is not financial or legal advice.