December 19, 2018
Texas has been one of the fastest-growing housing markets in America, even as prices have cooled in some western states. The Lone Star State remains an investment-friendly state where housing remains affordable.
A primary driver behind Texas investment is the fact that the cost of living and conditions for investing favor the investor. In Q2 2018, the average home price in the state was $238,000, according to the Texas Association of Realtors.
Lower prices can be found in San Antonio, where sales growth has outpaced Dallas and Houston. And, there are a number of smaller Texas markets under a million in population with average prices under $200,000. The state capital of Austin has among the highest median home prices in the state at $335,000.
Those lower market prices stack up quite favorably against higher-priced coastal gateway market, such as California or New York.
Lower living expenses and taxes compared with the rest of the nation are key factors driving Texas’ population growth. Tourism and technology help fuel the Texas economy that’s experienced robust job growth. In 2017, more than 400,000 new jobs were created in the state.
For comments, questions or concerns, please contact Dennis Kaiser