Things to Know Before Moving to Texas
Texas has always remained an attractive state for reasons that include good climate, low state taxes, affordable housing, exciting cities, and plenty to do.
Living in Texas is an ideal choice for millions of people, regardless of whether they were born here or transplant. In fact, Texas is the second-most populous state in the nation behind California.
According to the 2020 estimate from the US Census, nearly 30 million people call Texas home, and that number is multiplying by the day.
This Southern state is not just great in size, but in countless other areas as well: a variety of nature, tons of things to do, plentiful places to explore, and, of course, its rich and unique history. Deep in the heart of Texas are prairies, forests, rugged hills, desert land, a coastline and grasslands that give residents multiple venues to enjoy life. Major industries in Texas include agriculture, petrochemicals, energy, computers, aerospace, and biomedicine. The Lone Star State houses four national research universities along with a variety of professional and college sports teams.
If you’re moving to Texas, there are a lot of things you’re going to need to know. Luckily, you’ve come to the right place.
Moving to Texas
Pros and Cons of Living in Texas
Here are a few pros and cons to consider as you make your move to The Lone Star State:
Pros.
- Low cost of living: Grocery shopping, housing, gas – you’ll be pleased by your reduced cost in Texas. Gas prices alone are about a dollar lower than the California average .
- Job growth: Texas is ranked fifth in the nation and gains new companies all the time.
- Excellent schools: Many of Texas’ school systems receive top ratings for their excellent teachers and safety policies.
- Good home for families: Texas is known to be family-friendly with activities and accommodations for kids.
Cons.
- Public transportation needs improvements: Texas is a little behind on the public transportation game, and options are somewhat limited if you don’t want to drive.
- Property tax rates: You’ll pay higher property taxes than most other states, with the average household paying over $3,000 in property taxes each year.
- The hurricanes: Texas has exposure to hurricanes each hurricane season, so don’t come unprepared.
- Urban sprawl: As cities spread out, the roads into those cities are congested. The closer you get to the city, the more crowded the roads become.
Tax Rates
Texas is one of the few states in the US that boast no income tax. Which is great, but what does this mean for you in terms of savings? Well, according to Time Magazine, Texas collects about $3,500 per resident. California, on the other hand, collects $4,900. And, New York collects $7,400. So, when you compare it to other states, residents of Texas save as much as half of what they would normally pay in taxes. That’s nothing to scoff at and might even be a factor that tips the scale in favor of moving to Texas.
Housing Market
As of June, 2021 the typical home value of homes in Texas is $247,210 according to Zillow. This value is seasonally adjusted and only includes the middle price tier of homes. Texas home values have gone up 14.6% over the past year.
What Should I Know In 2021?
Economy Outlook
The $1.9 trillion Texas economy is the second biggest in the U.S., behind only California. Texas ranks fourth for current economic climate and first for its growth prospects, thanks to strong employment and income growth forecasts for the next five years. In addition, there are over 100 of the 1,000 largest public and private companies in the U.S. based in Texas, including giants like AT&T, ExxonMobil and Dell. Entrepreneurial activity ranks fourth in the nation, per the Kauffman Foundation. One of the only things holding Texas back is the education rate among its labor supply. Only 84% of adults have a high school degree, which is the second lowest among the states.
The economy of Texas employs 12.7M people. The largest industries in Texas are Construction (988,542 people), Restaurants & Food Services (906,232 people), and Elementary & secondary schools (904,691 people), and the highest paying industries are Oil & gas extraction ($135,355), Software publishing ($131,505), and Securities, commodities, funds, trusts & other financial investments ($121,119).
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Traffic & Transportation
Local public transportation – including buses, light rail, and trains – is available only in major cities, Austin, Dallas, Houston, San Antonio, and even then it is not always comprehensive or necessarily traveler friendly. Operating hours differ from city to city, but in general, services run from about 6 am to 10 pm. Basic fares average between $1.25 and $2.
Texas’ public transit still has a long way to go to come close to what other US big cities have to offer. Because jobs are abundant, and Texas’ population is ample, you might spend a good deal of time in traffic.
There are two major highways in Texas: the I-10 runs east-west, and I-35 runs north-south. Houston, Dallas, Austin, and San Antonio have major traffic problems, but traffic is still much more reasonable than in big cities like Los Angeles or NYC.
Cost of living
Texas offers a varied landscape, both in terms of terrain and cost of living. To get a sense of the overall cost of living in The Lone Star State, you need to delve into not only state-wide metrics, but also those of individual municipalities. While Texas has plenty of large cities, there are also places where prices and wages are rather low.
Overall, Texas is a favorable state for renters. More specifically, the median rate for studios, one bedrooms and two bedrooms is $796, $863 and $1,513, respectively, according to Apartment List data from 2021. When compared to the national averages of $827, $947 and $1,175 for the same apartment types, things look pretty good here.
Texas is famous for its cuisine, which ranges from Tex-Mex to barbecue to chili to Texas toast. According to the MIT Living Wage Calculator, a single adult with no children living in Texas should expect to spend $3,278 on food in a year. On the other hand, a family of two working adults with two children will spend $8,822 on food per year.
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