Texas has become an increasingly popular location for folks. It stands out in desirability for a number of reasons, including relatively low cost of living , as compared with the national average, and a booming job market. According to the U-Haul Growth Index, Texas had the largest number of movers in one-way U-Haul equipment in 2023.
Because Texas is such a hotspot that is only gaining steam, the state is experiencing a housing inventory shortage in some areas. If you’re thinking about relocating to Texas or know somebody who is, you should know the cities that have the most homes on the market. More homes often equates to less competition and potentially lower prices than you’d find in cities with less inventory.
In a new study, GOBankingRates analyzed places in Texas to find the housing markets with the most homes for sale and narrowed the cities down to 27.
Methodology: For this study, GOBankingRates analyzed places in Texas to find the housing markets with the most homes for sale. First, GOBankingRates found data for places in Texas, including total population, population ages 65 and over, total households, and household median income, all sourced from the U.S. Census American Community Survey. Using this data, the percentage of the population ages 65 and over can be calculated. The cost of living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost of living indexes. Using the cost of living indexes and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for all people, the expenditure cost for each location can be calculated. The average single-family home value was sourced from Zillow Home Value Index for August 2024. Using the average single-family home value, assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and expenditure, the total cost of living can be calculated for each location. Using Zillow Research Data, the newly listed homes, for-sale inventory, newly pending listings and median list price was sourced for each location. The livability index was sourced from AreaVibes as supplemental information. To qualify for this study, each location had to have all the data points available. The locations were sorted to show the highest inventory of homes for sale in August 2024. All data was collected on and is up to date as of September 24, 2024.
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