The Tech Exodus From California to Texas Continues
It’s been said that California is hemorrhaging people, with some of the state’s major companies and wealthiest residents packing up and heading to the Lone Star State. In 2020, Hewlett-Packard Enterprise, Palantir, and Oracle were among the companies that announced they’re relocating their headquarters out of the Golden State. Tech industry moguls moving out of California recently include Larry Ellison, Drew Houston, Joe Lonsdale, and Elon Musk.
Many of those leaving have cited concerns such as the high cost of living, high taxes, and heavy regulations. Thanks to the rise of remote work in 2020, over 135,000 more people left California than moved in. One survey found that two out of every three Bay Area workers would permanently leave the area if they could continue working from home Indefinitely. Facebook and Twitter are among the Bay Area companies that have already offered permanent remote work to most of their employees.
Californians are Flocking to Texas and Greater Fort Worth – For Good Reason
Besides leaving behind smog, earthquakes, exorbitant taxes, unaffordable housing, and traffic nightmares – why are Texas and Tarrant County such popular locations for all of these transplants? Let’s look at nine reasons, and you be the judge.
- No personal and corporate income taxes in Texas. Both residents and companies are migrating east to flee from leaving so much of their hard-earned money in the pockets of the state of California. They’re able to keep at least 20% more of their paycheck in their own bank account and enjoy reason #2.
- A lower cost of living. It costs a lot less to live in Texas than it does in California. In fact, California is over 30% more expensive to live in than Texas. Californians pay 28% more for groceries, 33% more for transportation, 47% more for childcare, and 14% more for clothing. And perhaps the biggest reason: the cost of housing is 45.1% higher in California. You not only need two incomes to afford a home in California, you need two BIG incomes. David Pannell of Cities Real Estate helps California transplants find the best values in Fort Worth and the surrounding area.
- A faster growing economy. Texas is now taking a leading position in the economic sphere as so many leading companies have moved legions of their employees to Texas, including tech giants Google and Apple. Today, the Texas economy is the second largest in the USA, and if it were a sovereign country, it would rank tenth in the world.
- A warm and mild climate. Many tech employees who have left the Bay Area, in particular, love the weather in Texas. Like everyone, they may grouse a bit about the hot summers, but they love the milder winters and the lack of fog and snow. They find living in North Texas to be very pleasant.
- Enough space for everyone. Texas is home to six of the largest cities in America, and there are many smaller towns and villages that are very inviting and nice for living. David Pannell of Cities Real Estate specializes in helping families find these niches in the towns and villages of Tarrant County.
- Better employment opportunities. As Texas has become the primary location of many leading American and global companies, Tarrant County residents have received more opportunities to increase their income and have regular full-time employment due to so many job opportunities.
- Unique entertainment. California transplants love the Stockyards, Fort Worth Zoo, Sundance Square, and Billy Bob’s, just to name a few of Fort Worth’s hot spots. Oh yes, we can’t forget the Texas BBQ (there are over 2,000 BBQ joints in the Lone Star State).
- More manageable traffic. Metropolitan areas in Texas certainly have heavy traffic, but Californians say it’s much better than where they came from. And the cost of owning and operating a vehicle in Texas is much lower than in California.
Texans are friendly. When you drive across the Texas state line from neighboring sites, you’re likely to notice a sign that reads, “Drive Friendly – The Texas Way.” A neighbor in Texas is a good neighbor.
Though you can see migration between many states all around the U.S., Texas remains one of a few states where the local population doesn’t wish to go anywhere. People are satisfied with their way of living, and it makes them open, friendly, and easy to communicate with.
Cities Real Estate Broker/Owner David Pannell helps relocating families find their dream home in Fort Worth and throughout Tarrant County. A former City of Arlington police officer and United States Marine, David loves North Texas and enjoys showing future residents the many beautiful homes available at competitive prices. You can trust David to help you locate the perfect home for your family or sell your existing home as you move on to the next chapter in your life.
Contact David today at (817) 797-9047.