While we are assuming it is just the low taxes and relaxed regulatory environment here in Texas, not to mention being in the Central Time Zone. One of the other main reasons is housing costs! Toyota will be bringing more than 3,000 jobs with most relocating from California.
Toyota had focus groups with their employees and the result was they were willing to move, they just wanted to live the American Dream and that dream includes owning your own home. So they did the math and found that housing costs in Los Angeles County are three times per square foot cost of a house in Dallas-Ft. Worth.
They are paying the same salary but going to triple the affordability of housing they can buy just by moving to Texas. The median home in Dallas-Fort Worth cost about $210,000, and the median income is roughly $58,000 and the median home price is $508,000 and the median income is $76,000.
While the housing is more affordable in North Texas, we are experiencing a shortage of inventory to accommodate this influx of people relocating here from California. Homebuilders are building as fast as they can to keep up and Real Estate Agents are looking furiously for pre-existing homes on the market.
