AUSTIN, Texas, Feb. 8, 2018 /PRNewswire-USNewswire/ -- Texas ranked second in the nation for incoming residents in 2016, according to the Texas Relocation Report released today by the Texas Association of REALTORS®. Analyzing the latest migration data from the U.S. Census Bureau, the report marked the fourth consecutive year that Texas experienced a gross inflow of more than 500,000 residents from out of state.
"Despite slowing job and economic growth over the last two years, housing-market and population growth have remained strong and steady throughout the state," said Kaki Lybbert, 2018 chairman of the Texas Association of Realtors. "With more than half a million people moving here each year, it's evident that the Lone Star State fosters a positive environment for business development and raising a family."
According to the report, Texas welcomed 531,996 total new residents in 2016. This is less than the number of out-of-state residents who moved to Texas in 2015 (553,032), but the net gain of out-of-state residents in Texas in 2016 was still positive at 87,656 residents.
Nearly half of the gross inflow of residents to Texas originated from outside of the U.S. Among U.S. states, the highest number of new Texans relocated from California (69,945), Florida (31,145), Oklahoma (30,532), Louisiana (27,998) and Illinois (21,848).
Texas ranked third in the nation for number of residents moving out of state (444,340) in 2016, but fewer people moved from Texas to other states compared to the previous report. The most popular out-of-state relocation destinations for Texans were California (39,109), Florida (31,153), Oklahoma (28,060), Louisiana (21,925), and Colorado (20,725).
At the Metropolitan Statistical Area (MSA) level, Los Angeles-Long Beach-Anaheim, New York-Newark-Jersey City and Chicago-Naperville-Elgin produced the highest volume of residents relocating to Texas. Dallas-Fort Worth-Arlington recorded the highest number of incoming residents from out-of-state (123,661) followed by Houston-The Woodlands-Sugar Land MSA (104,811).
At the county level, Harris County led the state with a net gain of 20,942 residents relocating from out of state, but four of the top 10 counties with the highest net gain of out-of-state residents were in North Texas (Dallas, Tarrant, Collin and Denton counties). Three of the top 10 counties were located in Central Texas (Travis, Williamson and Bell).
Lybbert concluded, "The Texas Triangle is a magnet for relocation activity and real estate development across the state. As these large MSAs like Austin and San Antonio continue to fuse together, it's becoming increasingly important for our local and state leaders to think about housing development and affordability from a regional perspective. Texas REALTORS®, too, are learning to serve and be knowledgeable about larger and larger market areas."
About the Texas Luxury Home Sales Report
The 2018 edition of the Texas Relocation Report is based on data from the 2016 American Community Survey 5-Year Estimates by the U.S. Census Bureau. The report analyzes county relocation data for the 40 largest demographic areas in Texas. The Texas Association of REALTORS® distributes insights about the Texas housing market each month, including quarterly market statistics, trends among homebuyers and sellers, international trends, and more. To view the Texas Relocation Report in its entirety, visit TexasRealEstate.com.
About the Texas Association of REALTORS®
With more than 114,000 members, the Texas Association of REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We advocate on behalf of Texas REALTORS® and private-property owners to keep homeownership affordable, protect private-property rights, and promote public policies that benefit homeowners. Visit TexasRealEstate.com to learn more.
CONTACT: Hunter Dodson, 512-448-4950, firstname.lastname@example.org
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SOURCE Texas Association of Realtors