The trend of Californians moving to Texas, specifically Dallas, is on the rise, and it’s no surprise why. With the increasing cost of living and high housing prices in California, many are looking for more affordable options. Dallas luxury real estate is becoming an attractive option for these Californians looking for a change.
According to a recent study by the Texas Real Estate Research Center at Texas A&M University, one out of every ten people moving to Texas is coming from California. This trend is also evident in the decisions of major companies, such as Charles Schwab, Tesla, and Oracle, to relocate their headquarters from California to Texas.
One of the main reasons for this migration is the significant difference in cost of living, particularly in the area of real estate. The median home price in Los Angeles California is around $900,000, while in Dallas, Texas it is around $400,000. This means that Californians are able to bring their housing budget to Dallas and purchase luxury real estate that would often be out of reach in their home state. For example, a $900,000 budget in Los Angeles might get you small and modest home while in Dallas, the same budget can get you a somewhat large and luxurious home with a backyard and a pool.
Furthermore, the lower cost of living in Texas also extends to other areas such as healthcare, transportation and taxes, which means that people can enjoy a higher standard of living with the same income they have in California.
If you’re a Californian considering a move to Texas, specifically Dallas, now is a good time to take advantage of the opportunity to own a piece of Dallas luxury real estate at a fraction of the cost of the California market. With a thriving economy, job opportunities and a higher standard of living, Dallas is the perfect place to call home.
Contact Susan for more information and to start your journey to owning a piece of Dallas luxury real estate.