The age old adage, “Everything’s bigger in Texas” has proven itself true once again in regards to the population influx that Texas has been experiencing. According to the Texas Relocation Report recently released by the Texas Association of REALTORS®, the state continues to lead the nation in terms of relocation activity. In 2013, Texas gained 584,034 people, which was an increase of more residents than any other state in the nation.
So, from where are these residents coming? The majority are moving from California (66,318), Florida (32,619), Oklahoma (29,169), Louisiana (29,042) and Illinois (28,900.) The report also showed that 409,077 Texas residents moved out of the state in 2013. As a result, Texas had a net population gain in 2013 of 138,057 people moving into Texas.
“Texas was never hit as hard by the economic recession as most other states,” said Steve Fithian, managing director with Sperry Van Ness / Visions Commercial. “As a result, it’s bouncing back quickly and is becoming a sought-after location for those moving from other states.”
The Dallas / Fort Worth area continues to be one of the prime destinations for people moving into the state. WalletHub recently ranked 11 Texas cities in the top 20 fastest-growing U.S. cities between 2008 and 2013. Four of those cities are in the Dallas / Fort Worth area and include Irving ranked second, Fort Worth ranked fourteenth, Grand Prairie ranked seventeenth and Frisco ranked twentieth.
In addition, U-Haul ranked Dallas as the top U.S. growth city in 2013, based on highest percentage of growth. This report was accumulated from more than 1.7 million one-way U-Haul truck transactions that occurred in 2013.
So, why is the Dallas / Fort Worth area such a draw?
“The economy in the Dallas / Fort Worth Metroplex is thriving,” Fithian said. “Job opportunities are expanding, costs are low and industries are growing.”
Forbes recently compiled a list of U.S. cities that have benefited the most from the economic recovery, and the Dallas / Fort Worth area was ranked 13th.
“The DFW Metroplex is a great place to live,” Fithian said. “It’s also an excellent place to invest.”
If you’re looking to buy or sale investment property, now is the time. Sperry Van Ness / Visions Commercial provides expertise in the Dallas / Fort Worth area, and we are committed to maximizing the return on our clients’ real estate investments. To view our property listings, visit https://svntrinity.com/properties.
To access the Texas Relocation Report, click here.