The number one reason for population moves is available jobs, and areas with affordable housing were a close second.
The state of Texas lead the nation by having two major advantages that effect affordable housing: Plenty of cheap land around cities and easy regulations that enable developers to build quickly.
Most of the top 10 fastest growing U.S. metro areas last year were locations where the homes for sale were more affordable than the U.S. average. Many were in Texas.
Five Texas cities – Austin, Houston, San Antonio, Dallas and Fort Worth – were accounted for inside the top 20 fastest growing large metro areas in the country.
The main driver for moves to Austin was, again, available jobs. The Capital City’s population rose by 2.6% between the years of 2012 and 2013. That’s nearly four times faster growth than the United States as a whole. Jobs are readily available in Austin. The unemployment rate in the city is a paltry 4.6%. There are analytics that projects job growth to average 4% a year through 2015.
Equally important for making the move to Austin is that many of the jobs there are well paid. The median household income of more than $75,000 is nearly 20% higher than the national median. The median home price is $243,000, higher than the U.S. norm, but a price level that income can support.