Texas Attracts Young Wealthy Movers from Other States

Texas has become a prime destination for young, wealthy individuals, ranking second nationally for attracting households earning over $200,000, with a net gain of 1,660 such households according to a SmartAsset study. This influx is attributed to the state's lack of income tax and its thriving economic environment, as many affluent individuals flee states like California and New York, which are experiencing negative net migration. The state also boasts nine of the eleven fastest-growing cities in the U.S., with Celina being the fastest-growing, seeing a 26.6% population increase from 2022 to 2023. Real estate agents like Lauren Barrett highlight the appeal of small towns like Celina for their community spirit and strong local values, despite rising housing prices. U-Haul reports that Texas is the top state for growth, with significant migration from urban centers like California and Florida. Overall, the trend indicates a significant demographic shift towards Texas as a desirable place for younger, affluent residents.