Texas is becoming a magnet for single Californian Millennials, according to fresh data analyzed by Business Insider. The data, which was pulled from the U.S. Census Bureau's 2022 American Community Survey, reveals that the typical Californian packing up for Texas is arriving with an average income of $50,565. This figure is a narrow $138 ahead of what Texas leavers pocket, in their own quest for greener pastures.
Between 2021 and 2022, Texas welcomed a whopping 668,300 new residents, with a hearty 102,400 of these newcomers hailing from the West Coast, according to a report by MySanAntonio. The influx is far from a trickle, it seems, rather, a steady stream of diaspora seeking solace in a state where the average home sale price is pegged at $451,568. And despite big moves, the dream of homeownership remains just that, a dream, as roughly 70 percent of these transplants continue renting, their aspirations moored by reality.
The exodus is not a new trend. StorageCafe's study adds historical depth to the phenomenon, noting around 300 Californians per day made their way to Texas in 2021. That's close to 111,000 people in a year, marking an 80% jump from the numbers a decade ago. "Californians moving to Texas can likely be attributed to affordability and job options," reads the study's findings, with the median Texas home price at a more palatable $408,000, dwarfed by California's steep $689,880.
The Golden State's living costs cast a giant shadow, prompting those who seek a little more bang for their buck to eye Texas with hope. Not surprisingly, the Californian settlers are primarily Millennials, a generation often handcuffed by economic constraints. The average Texas rent sits at a modest $1,453, compared to California’s $2,515 – figures that paint a stark contrast in living expenses, a report by MySanAntonio confirms.
