California has more people leaving the state and moving elsewhere than any other area in the U.S. In 2016, California had 142,932 more residents exit to live in other states than arrive, according to a report by the U.S Census Bureau. This number was up 11% from the previous year. The people moving from the state are mostly lower income, however, recently there has been a surge of middle class. In the near future, higher-income people may start to leave the state as well, due to the GOP’s federal tax revamp which will result in certain California taxpayers losing from the state and local tax deduction cap.
The relocation trend stems from the state’s housing crunch and higher taxes. Along with Texas, people are relocating to Texas and Nevada. Housing and gas prices are significantly lower in these states compared to California, which recently passed a gas tax raising fees 40%. In the California housing market, there are frequent bidding wars over limited inventory. Not to mention, the average home price surpasses $500,000. Texas, as a result has boomed, becoming one of the fastest-growing states in the nation. It’s now home to 867,000 new residents from California, who arrived between 2010 and 2016.
Here are some great advantages to move from California to Texas:
- People who have owned their home for a while may be able to cash out with a nice chunk of cash and buy a relatively larger and nicer home in Texas.
- The average home price in Texas is just over $274,990.
- Texas has a growing job market and even California companies are making the move! Companies that have grown fast are running out of room and driving up costs. Texas is conveniently close and much more affordable. Tech giants like AT&T, Verizon and Texas Instruments already call Texas their home.
- Cost of living is low (and gas is cheap and taxes low!)
- Texas economy has been booming, creating 3 million new jobs since 2000, compared with 2.7 million in much more populous California.
- Texas is a state of big spaces and big companies, with 50 Fortune 500 headquarters, just behind New York's 54 and California's 53, and lots of other major corporate operations.
About us:
If you’re ready to relocate to Dallas, then you’ll need a professional Realtor to facilitate your move. Our North Texas Dallas real estate experts can guide your search so that you can find your home with ease and efficiency. Trust our intimate, comprehensive knowledge of Dallas’s neighborhoods and our understanding of your family’s unique real estate needs to help you relocate to North Texas Dallas in no time. If you have no selected a top Dallas, TX Realtor to represent you in your home purchase, contact us, and we’d love the opportunity to interview for the opportunity to help you find your dream home! As a buyer in the Dallas real estate market, you have an exciting season ahead of you! The city is in the midst of its best real estate season in the decade. Hopefully, with the tips we’ve given you, you’ll be able to navigate through the process smoothly and without confusion. Talk to a REALTOR® for more information and to start looking for your new home! We offer great service and incentives for new home buyers in Southlake, Colleyville, Frisco, Plano, Coppell, Prosper, Castle Hills, Celina, Lewisville and other cities in DFW metro area.
