Over the past decade, the migration of Californians to Texas has become a familiar trend, reminiscent of New Yorkers flocking to Florida. A recent study by StorageCafe, reveals that the Texodus is not only continuing but also accelerating. Data from 2021 shows that in the last decade, migration of Californians to Texas has increased by 80%. This blog post aims to shed light on why so many Californians are choosing Texas as their new home. We’ll focus on the attraction of affordable housing and the opportunities Central Texas presents. As this migration trend gains momentum, real estate professionals must understand and cater to this growing millennial clientele.
Why are Californians Choosing Texas?
According to StorageCafe’s analysis of Greater Austin counties, more than 16,000 Californians relocated to Williamson and Travis counties in 2021 alone. Travis County emerged as the most preferred destination among the top 25 relocation routes for Californians in Texas. One of the primary reasons behind this departure from the Golden State is the desire to stretch their housing dollars further. The study highlights that homes in Williamson and Travis counties are 69% cheaper than those in notoriously expensive Los Angeles County. This creates a staggering price gap of $359,000. The affordability of Texas homes allows individuals and families to achieve homeownership and financial stability more easily.
The study reveals another factor for the migration of Californians to Texas, larger living spaces. On average, Texas homes are 17% bigger than those in California, providing more room for families and individuals. Even apartments in Texas offer 6% more space compared to their Californian counterparts. The allure of spacious accommodations at a lower cost attracts many Californians seeking a more comfortable lifestyle.
Will this Migration Continue?
The Texodus shows no signs of slowing down. In 2021, we witnessed a record-breaking year for Californians moving to Texas, with approximately 111,000 individuals moving. Notably, half of these migrants were millennials. Texas continues to entice a range of individuals and families with its affordability, opportunities, and vibrant lifestyles. Central Texas real estate professionals must understand this migration of Californians to Texas. The increase of Californians, particularly millennials, presents a significant opportunity to cater to their needs and capitalize on the growing demand for affordable living options. With median home prices in Texas approximately $282,000 less than in California, a 70% price difference, and utilities being roughly 20% cheaper, real estate professionals can adapt their services to meet the preferences of this growing market.