This article was last updated in August 2023.
Are you considering moving your business to Texas? Or are you thinking about investing in commercial property in Texas? You may be wondering what makes Texas a better choice than other states.
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In this article, we give you some of the essential facts about Texas in the following sections:
Texas Is Growing
- Texas is the Second Most Populous State in the U.S.
- Texas is home to 30,500,280 people
- Texas had the highest growth rate in the nation (15.9%) between 2010 to 2020
- Texas is projected to have a population of over 40 million by 2040
Top 10 Texas Cities by Population
| Rank | City | Population |
| 1 | Houston | 2,264,876 |
| 2 | San Antonio | 1,479,493 |
| 3 | Dallas | 1,259,404 |
| 4 | Austin | 966,292 |
| 5 | Fort Worth | 961,885 |
| 6 | El Paso | 678,049 |
| 7 | Arlington | 390,399 |
| 8 | Corpus Christi | 317,615 |
| 9 | Plano | 291,450 |
| 10 | Lubbock | 267,329 |
Source: World Population Review
Texas Has Work
- Texas boasts a 4.1% unemployment rate
- Austin experienced nine straight years of over 3% job growth between 2010 and 2019
- Austin is one of the Top 10 Most Resilient Technology Hubs
Job Market Growth by City
| Rank | City | Growth |
| 1 | DFW | 6.9% |
| 2 | Houston | 6.3% |
| 3 | Austin | 5.5% |
| 4 | Odessa | 5.5% |
| 5 | San Antonio | 4.6% |
| 6 | Midland | 4.5% |
Source: Texas Labor Market Review, 2022
Texans Work Hard
- Texas has the second-largest workforce in the U.S. (Esri, 2022)
- Austin, Texas was named the Hottest Big City Labor Market
- The median age in Texas is 35 years
| Texas | Austin-Round Rock-Georgetown MSA | Dallas-Fort Worth-Arlington MSA | Houston-The Woodlands-Sugar Land MSA | San Antonio-New Braunfels MSA | |
| 2021 Total Population | 30,506,523 | 2,499,236 | 8,058,326 | 7,500,883 | 2,698,487 |
| 2021 Median
Household Income |
$69,529 | $89,695 | $79,409 | $74,548 | $68,549 |
| 2021 Median Age | 35.7 | 35.2 | 35.5 | 35.3 | 36.5 |
| 2021 Working-Age
Population (Age 18-64) % |
61.04% | 63.87% | 62.09% | 61.66% | 60.75% |
Source: Esri
Texans are Diverse
- Texas is the Second Most Diverse State in the Nation
- Texas is home to four of the Most Diverse Cities in the U.S.
- Texas ranks fourth for cultural diversity and third for linguistic diversity in the U.S
- Over 160 languages are spoken in Texas, and greater than one-third of the state’s population speak a language other than English at home
Texans Are Educated
- Austin is one of the 10 Most Educated Cities in America
- 84.8% of the Texas population over the age of 25 hold a high school diploma or higher, and 31.5% hold a bachelor’s degree or higher
- Texas is home to 268 colleges and universities, including The University of Texas, Texas A&M, Texas Christian University, Baylor, and Texas State University
- Of these institutions, six are ranked among the top 100 in the nation: Rice University, The University of Texas at Austin, Texas A&M University, Southern Methodist University, Baylor University, and Texas Christian University
Texas Has a Booming Housing Market
- Texas led the country in the number of new building permits by state in 2021
- Houston, Texas was named the Busiest Home Construction Market in the U.S. (National Association of House Builders)
- Texas is home to two of the Best Cities to Buy a House in America: The Woodlands (No. 1) and Plano (No. 8)
- Total housing sales in Texas grew 9.5% YOY in 2020
Median Home Prices in Top Texas Cities
| Rank | City | Median Price |
| 1 | San Antonio | $319,900 |
| 2 | Houston | $349,900 |
| 3 | Fort Worth | $374,900 |
| 4 | Dallas | $467,000 |
| 5 | Austin | $649,900 |
Source: Realtor.com, 2022
Texas Is Affordable
- The State of Texas levies no state income tax
- Texas has one of the lowest local tax burdens in the nation, ranked 30th in taxes paid per capita (Austin Chamber of Commerce)
- Compared to the U.S. as a whole, Texas has a below-average cost of living
Texas Means Business
- Texas is the Best State for Business
- Texas is the Best State to Start a Business
- Texas is home to 53 Fortune 500 companies including Exxon Mobil, AT&T, Valero, Dell, Sysco, American Airlines, USAA, Southwest Airlines, Halliburton, Waste Management, Texas Instruments, and more
- Other major employers in Texas include Google, Facebook, Amazon, Boeing, Charles Schwab, Toyota, and many more
Texas Is a Global Economic Force
- Texas has a GDP of $1.84 trillion and produces 8% of the United States GDP
- In 2020, the Gulf Coast region had a gross domestic product (GDP) of $495.7 billion, about 27.9 percent of Texas’ statewide GDP of $1.8 trillion
- Texas is the No. 1 producer of oil and natural gas in the nation
- In 2021, Texas ranked as the Top Exporting State for the 20th consecutive year, accounting for 20% of the nation’s exports
- Texas has the second-largest economy in the nation and the ninth-largest economy in the world
Texas Is Connected
- Texas has 380 airports, including 26 commercial airports, making it the second-largest state airport system in the nation
- The Dallas/Fort Worth International Airport is the largest in Texas, ranking No. 2 in terms of passengers
- Texas is the No. 1 State for Rail Miles
- Texas has 19 seaports, including the Port of Houston, which is the No. 1 U.S. port for foreign waterborne cargo
- Texas features 33 Foreign Trade Zones
- Texas airports provide $94.3 billion of economic output
Texas Entertains
- Texas has over twelve major league sports teams including the Dallas Cowboys, Houston Texans, Texas Rangers, and San Antonio Spurs
- The Texas arts and culture industry has grown more than 30% over the past decade, generating $6.1 billion for the Texas economy and nearly $380 million in state sales tax revenue (Texas Cultural Trust, 2021)
- Austin was named the Live Music Capital of the World and Texas is home to big names like Willie Nelson, George Strait, and Beyoncé
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Still have questions about Texas? Reach out to our tenant representation team to learn more.
