We’re addressing a question today that comes from LinkedIn. Someone is looking to relocate to Texas and wants to know about the jobs environment in Texas, and a little bit about the economy and why they might want to go ahead and make plans to move here in 2013.
A couple of reasons that come to mind. Number one, you’ll keep more money in your pocket. There’s no state income tax in Texas, at this time.
Number two, the cost of living in Texas is right around 20% lower on average, than the rest of the U.S. Now that’s just an average and now there are cities here and the smaller and the more rural areas would be probably even less. But that’s the average, 20% lower on average than other places in the country.
Along that same line, housing prices are very reasonable. They have been for years. They also have been relatively stable and, remain low in spite of the current recession and in spite of the U.S. housing bubble that burst in two thousand nine.
And, I’ve got, according to a story that was on the Texas ANM university real estate centre website in July of 2012. This is what they had to say about home prices in Texas thought this was interesting. They say that the national median home price declined 25% between 2006 and 2011, in the rest of the country, while the Texas median price increased a modest 4%.
So we have not seen the violent downswing that the rest of the country has had. It’s remaining very stable. And one final reason why to consider Texas are the unemployment rate actually has continued to remain low and has, even fallen in 2012, unlike the rest of the country. It was reported in October of 2012 to be actually at about 6.8%.
The Texas workforce commission website reports that amount, so there’s lots of opportunity and its broad based. Its oil and gas industry, its financial services, its manufacturing, its health care and again when you put all this together with the stable and low housing prices, low cost of living, it makes it very appealing. It makes it a business friendly climate for companies so it makes it an appealing place to consider relocating to.
What are the best things about working in Texas?
Number one, it’s a right to work state. That means that union membership is not compulsory there’s plenty or can’t be a requirement of employment.
Number two, there is no state income tax on your earnings and number three, theres plenty of housing. Whether it be rent housing, apartments or single family homes that are very affordable. So again that means more money stays in your pocket.