Yahoo Finance 20 Best Places to Live in Texas in 2024
In this article, we will be covering the 20 best places to live in Texas in 2024. If you wish to skip our detailed analysis, you can move directly to the 5 Best Places to Live in Texas in 2024.
Texas as an Attraction and Trends in the Market
Texas has been an attraction for many, based on its robust economy and strong job market. The state has received a high inflow of Americans from California and New York. In 2022, Texas welcomed 102,442 people from California and 30,890 people from New York, as reported by the US Census Bureau.
On February 2, the Federal Reserve Bank of Dallas reported that Dallas and Houston metros in Texas have been the top destinations for businesses relocating to the state. Low taxes and light regulation have been cited as reasons for businesses to settle in Texas. This has also led to job gains in the state’s employment market. Simultaneously, major incumbents including Dell Technologies Inc. (NYSE:DELL), AT&T (NYSE:T), and Exxon Mobil Corporation (NYSE:XOM) are headquartered in the state.
The state boasts a comparatively cheaper cost of living which caters to the affordability concerns of the Americans. As of January 31, the average home price in Texas is $296,582. The state is deemed affordable when compared to West Coast states such as California. Additionally, Texas is home to cities such as Houston, San Antonio, and Austin which are especially suitable for families.
Austin serves as an important Texas market that is currently witnessing many returning buyers although the US housing market has remained subjected to a major housing crisis which left many homebuyers out of the market. The city was reported to be one of the top markets with pent-up demand. Austin also witnessed millennials earning more than $100,000 relocating to the market after leaving other states. The housing inventory as well as the number of houses sold went up in January. New listings in the city have also been increasing.
Other attractive metros in Texas include Dallas and Houston. While Dallas offered one of the fastest-growing job markets in 2023, housing affordability and wage growth were factors influencing a higher demand from those who wish to settle in Houston in 2024.
Homebuilders Offering Convenient Living Options
While the US housing industry returns to better conditions in 2024, American homebuilders including LGI Homes, Inc. (NASDAQ:LGIH), KB Home (NYSE:KBH), and Beazer Homes USA, Inc. (NYSE:BZH) continue to offer affordable and convenient real estate options to settle in some of the most desirable locations in the US.
LGI Homes, Inc. (NASDAQ:LGIH) is a leading American home construction company that operates across 36 markets in 21 states. The company has closed more than 65,000 homes up till now. On March 1, LGI Homes, Inc. (NASDAQ:LGIH) reported that it is introducing its new community ‘Bold Springs Farm’ in the Atlanta market. A playground, pickleball court, and basketball court are part of the community amenities. The pricing for move-in ready homes at the new community starts at $380,000s. Residents can also undertake recreational activities including fishing and picnics.
KB Home (NYSE:KBH) is one of the largest homebuilding companies in the US. The company has constructed more than 680,000 homes in the past. On February 28, KB Home (NYSE:KBH) reported the grand opening of its latest community in Bartow, Florida. The community ‘Hancock Crossings’ offers convenient access to downtown Lakeland. Pricing for the homes starts from the $320,000s. The homebuilder had previously announced the grand opening of its new community in Princeton, Texas.
Beazer Homes USA, Inc. (NYSE:BZH) is another popular home construction company in the US. The firm builds houses in multiple states including Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas, and Virginia. On February 27, Beazer Homes USA, Inc. (NYSE:BZH) reported the launch of its Energy Series READY Homes in all communities in the Phoenix-Metro Valley. The company’s Energy Series READY homes have been made to incorporate energy efficiency and are ENERGY STAR certified and Indoor airPLUS qualified by the US Environmental Protection Agency.
Without further ado, let’s move to the 20 best places to live in Texas in 2024.
20 Best Places to Live in Texas in 2024
Our Methodology:
In order to compile a list of the 20 best places to live in Texas in 2024, we utilized the Niche screener to find the 35 potential best places to live. Niche has utilized numerous factors including the presence of restaurants, bars, parks, educational facilities, and more to rate places. We have chosen to prioritize housing affordability and income potential for our rankings. Our primary metric was the average home price, sourced from Zillow and our secondary metric was the median household income, which was sourced from Niche. Finally, we selected and ranked the 20 best places to live in Texas in 2024, in ascending order on a priority basis.
20 Best Places to Live in Texas in 2024
20. Allandale
Average Home Price: $771,170
Median Household Income: $122,707
Allandale is a neighborhood in Austin where the average home price is $771,170 while the median household income is $122,707. It is considered a suitable place for living in Texas.
19. Alamo Heights
Average Home Price: $700,386
Median Household Income: $149,332
Alamo Heights ranks among other places deemed well for living in Texas. It is a suburb of San Antonio and has a median household income of $149,332.
18. Trophy Club
Average Home Price: $667,608
Median Household Income: $183,125
As reported by Zillow, the average home price in Trophy Club is $667,608. Trophy Club is based in Denton County and ranks among the best places to live in Texas.
17. Frisco
Average Home Price: $660,991
Median Household Income: $144,567
The 20 best places to settle in Texas include Frisco. The median household income in Frisco is $144,567 which exceeds the national average.
16. Shady Hollow
Average Home Price: $645,141
Median Household Income: $159,904
Shady Hollow is a suburb of Austin and ranks among some of the best places for living in Texas. The average home price in Shady Hollow is $645,141 while the median household income is $159,904.
15. Memorial
Average Home Price: $617,909
Median Household Income: $138,196
Memorial is a neighborhood in Houston that offers a median household income of $138,196. As recorded in January, the average home price in Memorial is $617,909.
14. Coppell
Average Home Price: $604,593
Median Household Income: $143,817
Coppell is located in the northwest corner of Dallas County in Texas and is another suitable option to live in the state. Coppell boasts an average home price of $604,593 and a median household income of $143,817.
13. Upper Boggy Creek
Average Home Price: $598,353
Median Household Income: $97,899
Upper Boggy Creek offers an average home price of $598,353 and a median household income of $97,899. It ranks as one of the best places to live in Texas in 2024.
12. Flower Mound
Average Home Price: $589,855
Median Household Income: $154,471
Flower Mound is situated in Denton County and ranks as another good place to live in Texas. As reported by Zillow, the average home price in Flower Mound is $589,855. Median household income is also above the national average.
11. Fulshear
Average Home Price: $549,222
Median Household Income: $170,602
Fulshear is a town in Texas that boasts an average home price of $549,222 as recorded in January. The town is considered a viable living option within Texas.
10. Cinco Ranch
Average Home Price: $515,323
Median Household Income: $152,074
Cinco Ranch is a suburb of Houston that ranks among the best places to live in Texas. While the average home price in Cinco Ranch is $515,323, it offers a median household income of $152,074.
9. Medical Center Area
Average Home Price: $483,720
Median Household Income: $72,066
A neighborhood in Houston, Medical Center Area, is considered one of the best places to live in Texas. As reported by Zillow, the average home price in Medical Center Area was recorded at $483,720 in January.
8. Sugar Land
Average Home Price: $432,603
Median Household Income: $132,247
Sugar Land is a town in Texas and is considered a good place to settle in the state. The town offers an average home price of $432,603 and a median household income of $132,247.
7. Arapaho
Average Home Price: $432,073
Median Household Income: $132,786
Arapaho ranks as one of the best places to seek living in Texas. The average home price in Arapaho is $432,073 while the median household income is above the national average.
6. Dallas North Estates
Average Home Price: $422,944
Median Household Income: $115,266
Dallas North Estates is based in Plano and offers an average home price of $422,944. The median household income in this neighborhood is $115,266.
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Disclosure: None. 20 Best Places to Live in Texas in 2024 is originally published on Insider Monkey.