Texas remains at the top of the list as one of the most sought-after relocation destinations and continues to be among other states leading the nation in population growth.
According to a United States Census news release, four southern states — North Carolina, Florida, Texas, and Georgia accounted for 93% of the nation’s population growth in 2022, and 67% in 2023. Texas experienced the largest numeric change in the country, adding 473,453 people, followed by Florida, which added 365,205 residents.
Texas is also seeing expansive growth in its job creation and business sector.
The Texas Comptroller of Public Accounts examines the agency’s latest fiscal Notes in its recently updated regional reports, which show Texas continues to experience strong economic and population growth.
“Some data points surprised us, while other results confirmed what we’ve always known,” Texas Comptroller Glenn Hegar said in a press release. “The saying, ‘I wasn’t born in Texas, but I got here as fast as I could,’ is truer than you might think, especially when it comes to business and job creation. People come here, in part, to take advantage of a culture that supports businesses and entrepreneurship, our low tax burden, and a limited and consistent regulatory environment. Texas has a well-deserved reputation as an excellent place to start or transfer a business.”
The housing market projections for the state of Texas as a whole remain steady despite high interest rates. Redfin.com released a report which showed that home prices in Texas were up 0.8% year-over-year in May. At the same time, the number of homes for sale rose 24.9%, with a slight increase of 3.6% of homes sold.
Even with continued price increases in metropolitan areas of the state, sales remain up.
“Prices are continuing to climb in the major metro areas in Texas, with homes in Dallas selling for 20% more year-over-year. Houston and Austin have seen more modest gains, with increases under 5%, but the median home prices in all three markets are hovering around the $500k mark,” said Mike Sheahan, Founder & CEO, mapfax.com, a Houston-based real estate data platform.
While relocation rates have slowed slightly, people are still flocking to Texas due to its economic benefits.
“Texas continues to attract new residents, although the rate of relocation has slightly decelerated compared to the peak years during the pandemic. The state’s favorable economic conditions, lower cost of living, and no state income tax remain strong incentives,” Daniel Cabrera, Owner and Founder at Sell My House Fast SA TX
Popular Places to Live in Texas
Texas’s population is growing every day, with new people moving into major cities as well as smaller suburbs.
“Among the most popular places to live in Texas are Austin, with its vibrant tech scene and cultural attractions; Dallas, known for its business opportunities and amenities; and suburban areas around Houston, which offer a blend of urban and suburban living,” said Cabrera.
It’s not just the larger cities seeing growth. Here are a few smaller cities in Texas that saw a population growth anywhere from 215%-60%.
Between July 2020 and July 2023, the city grew by 215%.
2023 population: 7113
2020 population: 2,255
Between July 2020 and July 2023, the city grew by 178%
2023 population:4,183
2020 population: 1,504
Between July 2020 and July 2023, the city grew by 117%
2023 population:10,428
2020 population: 3,794
Between July 2020 and July 2023, the city grew by 73%
2023 population: 3,589
2020 population:1,534
