While some homebuyers seek the American dream in Texas, many are leaving the state to find it elsewhere.
- Texas experienced a surge in popularity during the pandemic that drove home prices up 30%, data suggests.
- The political freedom some sought in the state has encouraged others to leave.
- Have you left or do you plan to leave Texas? Business Insider wants to hear from you.
“Lifelong Texan here. I am definitely preparing an exit strategy,” one anonymous user posted on a Reddit thread about leaving Texas. “From the heat to the stripping away of human rights, I’m just done.”
Another poster struck a similar chord. “I’ve been in Texas most of my life, and my husband and I were always planning on retiring here (in about 5 years from now),” they wrote. “But between this intense heat, crazy politics, and cost of living, we’ve decided to leave for good and head to Knoxville.”
While individuals have been relocating to the Lone Star state to leverage its comparatively affordable real estate, political environment, and employment prospects, these very characteristics are prompting others to depart. Between 2021 and 2022, over 494,000 people exited Texas (although the state experienced a net population gain of 174,261). This trend might escalate as housing expenses soar and the political scene in the state becomes increasingly polarized.
Housing costs have some looking for affordability elsewhere
Texas witnessed a spike in popularity during the pandemic, leading to a 30% increase in home prices from 2019, as per data from Realtor.com. Simultaneously, residents are contending with property taxes that rank among the highest in the country.
The relocation path from California to Texas became the most popular in the United States from 2021 to 2022, with nearly 108,000 individuals opting for this move in search of more affordable housing. However, there is one significant drawback.
“The property-tax percentage rate is higher,” Marie Bailey, a Realtor who moved from El Segundo, California, to Prosper, Texas, in 2017, previously told Business Insider. “Every time a prospective client calls me, it’s one of the first things I talk about.”
As Texas begins to lose its status as a budget-friendly and affordable housing option, a growing number of residents are redirecting their attention to the Midwest.
Texans are increasingly turning to the Midwest, which has gained popularity due to being the most budget-friendly region, according to Hannah Jones, an economic research analyst at Realtor.com. The trend of buyers seeking affordability is on the rise, marking a notable shift in preferences.
The political freedom many moved to the state for is driving others away
When selecting a place to reside, politics hold equal importance to housing affordability for numerous Americans.
A survey conducted in 2022 by the mortgage marketplace LendingTree, which included 1,545 participants, revealed that 39% of respondents have either moved or would contemplate relocating to another state if their political beliefs did not align with the majority.
Jackie Burse, a self-identified Conservative, is one of the many Californians who have sought out Texas for its political environment. Burse told BI in September that it played a crucial role in her decision to relocate to Texas in 2021.
According to Burse, Texas provides a space where individuals can hold diverse beliefs without facing condemnation, a contrast to her experience in California.
In contrast to Burse’s perspective, Bob McCranie, a real estate broker based in Dallas, expressed to KXAN News in July that the lack of inclusivity in Texas has led to an unwelcoming environment.
“What we all want as human beings is to feel a level of safety, and if your state is making you feel unsafe, there’s no reason to stay,” McCranie said. “I can’t believe somebody could look at, let’s say, California or New York versus Texas and Florida and say that LGBTQ people feel more welcome in Florida and Texas.”
Click here to see full blog: https://www.businessinsider.com/leaving-texas-political-freedom-property-taxes-housing-costs-2023-11
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