People associate the state with cowboys and the Wild West of old, but it has a vibrant, sophisticated economy that includes industries such as advanced manufacturing, aerospace, biotechnology, and information technology. It is most famously known for its rich history in oil mining and production and is currently a national leader in the field of energy production. Many well-known Fortune 500 companies, including Exxon Mobile, Phillips 66, Energy Transfer Equity, United Service Automobile Association, and National Oilwell Varco, are based in Texas.
The Lone Star State is the second most populous state in the country. It had an estimated population of nearly 29 million in 2019. The state encompasses an area of 261,000 square miles, making it the second-largest state in the U.S. The Lone Star State is not very lonely, but if you decide to move there, there's plenty of room.
The overall cost of living in Texas is 6.1% lower than the national average. Groceries, health, housing, and utilities are all below average, while transportation costs are 3.3% higher than other states. Your actual cost of living will depend on where you move because some cities are more costly than others. For example, Austin is 19.3% above the national average, while El Paso is 18.6% below. But in general, Texas is an affordable place to live.
There is a wide range of housing prices in various cities throughout Texas. The average house in El Paso costs $130,700, which is 33% lower than the state average of $195,000 and 43.5% less than the U.S. average of $231,000. Austin's median home price is $369,000, which is slightly more than 89% higher than the state average and 59.6% higher than the national average. Texas has many areas with below-average housing prices, making it a great place to buy a home. And when you consider buying a rent-to-own home, the Texas housing market is made just that much more accessible.
If you're interested in Texas rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Texas statistics compared to the U.S. national average.
|Texas Averages||National Averages|
|One-Way Commute||26.1 minutes||26.4 minutes|
|Income Tax Rate||0%||4.6%|
|Median Household Income||$52,576||$53,482|
|Median Property Taxes||$2,275||$2,200|
|Median Home Cost||$195,000||$231,200|
|Median Home Age||28 years||40 years|
Austin - Austin has over 27.4 million visitors every year. It is known as the "Live Music Capital of the World." The city hosts hundreds of festivals throughout the year featuring music from every known genre. One of the amazing local draws is Zilker Park, a 358-acre parcel that includes a nature and science center, botanical gardens, a music and arts theatre, and a variety of recreational activities. The park is also home to the Barton Springs Pool - a three-acre pool that's fed by natural spring water with temperatures averaging 68 degrees year-round.
Houston - Houston became known as "Space City" ever since NASA's Manned Spaceflight Center moved there. With teams such as the Astros, Rockets, Texans, and Dynamo, there's an abundance of professional sports teams for residents to follow. More than 2.3 million people live in Houston, the fourth most populous city in the country. In 2018, approximately 22.3 million tourists passed through the city to attend events such as Comicpalooza and the Houston Livestock Show and Rodeo, and to visit the Museum District, the Houston Zoo, NASA, Space Center Houston, and the many other popular attractions in the city.
San Antonio - San Antonio has a lot of history. It was established as a city in 1718 by a Spanish expedition. Some of its historic attractions include the fort at the Alamo, the location of the battle that turned the tide during the Texas Revolution against Mexico in 1836, and the San Antonio Missions National Historical Park. The city's 34 million yearly visitors and 1.5 million residents enjoy the history and hot spots such as the shop- and restaurant-lined San Antonio River Park and the Six Flags Fiesta amusement park.
In 2017, Big Bend National Park had 443,000 visitors. The park has 304 miles of paved and unpaved roads, 201 miles of hiking and biking trails, 116 designated campsites, 196 miles of river, and thousands of species of plants, mammals, birds, insects, reptiles, amphibians, and fish. It is the 15th largest national park, encompassing 801,163 acres, or 1,252 square miles.
The Presidio La Bahia, also known as Fort Goliad, is a historic Spanish military compound that was established in 1749 and played a major role in the Texas Rebellion of 1836. The site hosts a museum with many historical artifacts, guided tours, and yearly reenactments of the Goliad Massacre and other events that occurred at the fort.
Cattle trade and Texas are almost synonymous. Both Texans and its many visitors enjoy a stop at the Fort Worth Stockyards National Historic District, which was established in the late 1800s. Visitors can enjoy twice-daily cattle drives, shops, restaurants, a museum, and several yearly events.
The state offers many more attractions, has a wide variety of housing options, and hosts more than 50 Fortune 500 companies in total, with plenty of jobs at every level for people who want to move to Texas. If you're thinking of moving, you should definitely consider a Texas rent-to-own home as an option.