Fort Worth a hot destination for out-of-state renters, new study says
The Fort Worth area is already a top location for residents moving from Los Angeles, Chicago, and New York. But how about another title – a top spot outside of government tenants?
A study published on April 16 by the self-storage platform StorageCafé shows that Fort Worth is one of the biggest magnets in Texas for renters who have moved here from another state. Around 24 percent of renters who moved to Fort Worth last year came from another state, the study shows. For Arlington, it’s 15 percent.
“Fort Worth and Arlington are following (a) the Texan trend of a rapid revival in the labor market – unemployment fell in both cities by 6.5 percent and 8 percent from April to December 2020, respectively,” say the authors of the study.
Directly between the two cities of Tarrant County is Dallas with 21 percent of tenants.
It’s no surprise that Austin ranks 40 percent as Texas’ top destination for out-of-state renters, as the Texas capital seems to be high on the list these days. Where are you from? New York City ranks # 1 among tenants outside of the state in Austin, followed by Columbus, Ohio, according to StorageCafé.
“One of Austin’s strengths in attracting new residents is its growing job market, especially the technology space, which has some of the biggest players in the industry including Apple, Dell, Oracle, Amazon, Facebook and Google,” the study said .
In the study, Houston ranks fifth among the top attractions of all tenants in the country in 2020. Nearly 70 percent of Houston renters were from other locations in Texas, with Katy topping the list (8.8 percent).
According to the study, the rental market experienced “significant disruptions” in the past year, largely due to the global health crisis. The pandemic resulted in changes in housing preferences and general lifestyle.
“Due to health, affordability and employment problems, 18 percent more tenants changed their apartments in 2020 than in 2019,” it says.