Texas is leading the nation in growth with half of the top 16 fastest growing cities in the United States. Here, TexasLending.com speaks about the booming economy of the Lone Star State.
Q: What Texas city has seen the greatest economic growth?
TexasLending.com: Midland saw a substantial growth spurt between 2013 and 2014. With a median household income of nearly $56,000 and a $250,000 median list price for residential real estate, Midland has definitely become a city replete with jobs and well-priced housing.
Q: What city is considered the best value in Texas?
TexasLending.com: Depending on your definition of value, San Angelo, Texas, may fit the bill. In this charming town, a four-bedroom 2200 ft. home will average less than $200,000. The area has a respectable median income of $43,000 per year and is located within driving distance of some of the area’s best manufacturing jobs.
Q: How does Dallas compare with other areas?
TexasLending.com: Dallas – Fort Worth is an area that seems to be almost always in an upward swing. With a relatively high household income averaging nearly $60,000, growth in the DFW area has been slower than in other up-and-coming locales. However, with the city being centrally located to jobs, entertainment, and recreation, it’s still one of the best areas to call home and one that an influx of out-of-towners continuing to settle.
Q: What other Texas cities have been noted for recent exceptional growth?
TexasLending.com: Victoria and Corpus Christi are both midsized towns showing sustainable growth. Victoria has grown economically by 7% in the last few years which is on par with real estate appreciation numbers. Corpus Christi’s growth rate was marginally less but the city still posts a median household income of $52,000. One factor tying these areas together is that they are both employment hubs for workers in the energy field.
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