StorageCafe also used that data to rank the cities in which lessees are moving.
First, analysts calculated the percentage of people moving to the city for everyone leaving the city. Next, we weighted the ratio of each city to the population and the total number of rental applications to calculate the final ranking.
The result is that of the 20 most popular cities for renters to travel in the United States 4 are in texas.. Three of these are in the Dallas metropolitan area.
The suburbs of Dallas, Irving and Lewisville, ranked first and second with inbound ratios of 3.2 and 2.5, respectively.
More frankly, three people have moved to the outskirts of Dallas for everyone who moved from Irving in 2021. The suburbs of Dallas already have more than 250,000 inhabitants as of the 2020 census.
In Lewisville, five new residents flowed in for every two people who moved.
According to StorageCafe data, the majority of renters traveling to both Irving and Lewisville have moved from Dallas. But Dallas itself also made a list of the top 20 rental cities, No.17 with an inbound score of 2.4. Austin finished 18th with a ratio score of 3.
Real estate expert attributes Texas success By attracting new entrants to a simple three-way formula: lots of work, low living costs, and cheap property.
Texas already has the headquarters of the largest US companies in Dallas, including American Airlines, AT & T, and Southwest Airlines. Kip Sowden, founder and CEO of real estate company RREAF Holdings, which has development projects across Texas, has recently appealed to the new company to move to Texas, including Tesla’s recent opening of a manufacturing plant outside Austin. It acknowledges the achievements of the state government.
In November, Samsung announced It will build its own $ 17 billion microchip factory on the same neck in the forest.
Video by Helen Zhao
“The toll road just east of Austin is a kind of new boom town area. As businesses continue to move to the Austin area, the population will continue to grow,” says Sowden.
All that expansion has pushed rents much higher. In Austin and Dallas alone, rents for one-bedroom apartments have risen by more than 20% in both cities since February 2020. Latest data From the apartment list.
Video by Mariam Abdallah
Despite rising housing costs, Sowden does not expect the boomtown spirit to end soon. Real estate watchers say you should keep an eye out for small big cities in Texas like Corpus Christi.
“I don’t really give much advice to renters and buyers. The market we’re in is the direct result of the biggest migration we’ve ever seen in 35 years,” he says. .. Census figures support that. Texas’ population has grown by nearly 16% to over 29 million. 2020 census..
“We can’t build homes fast enough to meet demand, such as apartments, rental homes, and single-family homes. As a result, we can see that prices are rising faster than in history. Is part of. “
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