If Americans have an “American Dream”, it is the “California Dream” – to leave everything behind, get in the car and move to the Golden State, where with hard work and talent, you can become a respected name – whether in show business, the Silicon Valley, or simply as an employee of one of the many companies headquartered there.
Sunny beaches, great weather, young, smiling, and beautiful people – California has become the symbol of the best America has to offer. Yet in the last few years, there has been an interesting trend – while population growth in the state has remained positive, more and more people are leaving California, for states such as Texas.
In this article we will explore all of the reasons that people are choosing Texas over California, and why you should do so too!
Texas Is Great If You Don’t Like Paying Taxes Or Expensive Rent
Texas is among the top 5 most preferred destinations for former California residents. It has no state income taxation at all, which is actually one of the main reasons top earners like Elon Musk, moved from California to Texas.
He moved to Texas because there is no income tax, while in California the income tax is one of the highest in the US. So If you are someone who wants to avoid income taxes at all costs, Texas is definitely a great choice!
And while experts say the Texas budget has been under pressure for years. Аny attempts by Texas to raise taxes are likely to fail. In 2003, the state dealt with a budget shortfall without raising taxes. Texas has a strong Trump card up its sleeve – a $9.4 billion “rainy day” fund created by the state over the years and funded by oil and gas production taxes, meaning that the state will remain the way it is.
Furthermore, the median rent price in Texas is almost 50% of what it is in California, so next time you are looking for a new rental property, consider signing your next lease agreement in Texas! Apartments for rent in Deer Park offers great amenities that you and your family will enjoy.
The State Is Attracting More And More Big Companies
During the pandemic, more than 150 companies, including Apple, Dell, Tesla, either announced that they intended to move some of their manufacturing to cities in Texas such as Dallas, Austin, or Houston or that they would be opening more jobs in their existing factories around Texas.
In addition, Austin is literally “drowning” in greenery. It is the American city with the most bike lanes. It is known for its nice restaurants and cafes, as well as cultural events.
While others are moving out of the office, tech giants are buying more and more buildings in Texas. For example, Meta has leased 33 floors of an unfinished office building in Houston, Texas, which is expected to be the tallest building in the city (with a total of 66 floors and a height of 266 metres).
In addition to offices, the building will have 349 residential units and 100 thousand square feet of retail space. The construction of the commercial part of the building is scheduled for completion at the end of 2021, and the building is expected to be completed in 2023.
Texas Is Home To The Most U.S. Cities Where You Can Go From Tenant To Property Owner In Under 5 Years
Buying your own home and eventually becoming a landlord can take many years of saving up to find the best time to buy. And that’s true no matter where you live.
The American company Smart Asset has looked at how things stand in the US market. In their study, experts have calculated the average time it takes people in the top 100 largest cities in the country to convert from tenants to homeowners.
What they consider is the average income of citizens in the different locales, income taxes, the average annual rent, and the average house price.
They have presented the cities in which renters are becoming people with their own homes in the shortest period of time, and unsurprisingly most of them are in Texas.
- San Antonio, Texas – 4,64 years;
- Dallas, Texas – 4.35 years;
- Arlington, Texas – 4.27 years;
- Houston, Texas – 4.10 years;
- Fort York, Texas – 4.01 years;
- Garland, Texas – 4.01 years;
- Irving, Texas – 3.35 years;
Texas is quickly becoming one of the most popular states to move to according to a study released Monday by United Van Lines. While this trend may be influenced by the pandemic, causing people to move to states where there aren’t many restrictions, it is certain that Texas has some advantages that most states just do not have.