2020 will be a challenging year for investors, with uncertainty about the economy, the political situation, and international developments. Still, more people than ever are renting, and that means investors mainly need to be cautious about where and how they invest.
A big advantage for investors in Texas is that people are still moving there. In 2018, 85,000 people moved to Texas from other states, for a total population increase of 380,000. Compare that with New York, where 180,000 moved out and California, which lost 160,000.
One reason people move to Texas is because of jobs: 235,000 new ones in 2019. Another is that housing is still affordable. With the exception of Austin, home prices in the big markets are under $300,000 and in the smaller markets they’re mainly under $200,000.
Throughout the country, jobs are becoming more and more concentrated in big markets and that’s true in Texas as well. Our data table lists the five big markets first, then the rest in alphabetical order. Note that the big markets are also those with the highest rate of job growth.