Texas is not only the second most populous state but also the fastest-growing state in the United States. The availability of land for construction and the affordable housing market make Texas an attractive destination for young people. Austin was one of the
: excellent news for both the housing and the employment markets. At less than 300,000 U.S. dollars for a
in February 2024, housing in Texas is relatively inexpensive compared to states such as California, Arizona, or Florida. In recent years, Austin has attracted companies like Amazon, Samsung Austin Semiconductor, Tesla, and Oracle Corp., establishing itself as a strong alternative for tech companies. Strategically positioned between the East and West coast, Texas is home to some of the
.
Which Texas house markets are expected to see the most growth?
El Paso is forecast to experience both the highest
growth in terms of home sales and
house prices in 2024. Although most
home transactions fell within the 200,000 to 299,000 U.S. dollar price class in 2023,
housing in some metros was substantially more expensive. In Texas’ capital city, Austin, famous for its unique cultural life, the medium house price was 450,000 U.S. dollars. Nevertheless, renting a home in Texas is affordable compared to many other states in the country: To rent a two-bedroom apartment, one needs to earn an
hourly wage of less than 28 U.S. dollars.
What drives the commercial property market in Texas?
As one of the nine states in the U.S. without an income tax, Texas is famous for its pro-business orientation. Along with its rich employment pool, the state is a competitive destination for businesses, resulting in a flourishing commercial property market. Among the major markets in the U.S., Dallas and Houston had some of the
lowest office rental rates. In terms of industrial and logistic property, Dallas/Ft. Worth and Houston were the markets with the
highest absorption rates in the U.S. in 2023. Historically an important industrial center, Dallas continues to be home to major industries, such as oil and gas, manufacturing, and aviation, while the access to the International Inland Port of Dallas makes it an important logistics hub. In 2023, about 63 percent of industrial
big-box property leased was in the 3PL and general retail and wholesale sectors.
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