Fort Worth a hot destination for out-of-state renters, new study says
The Fort Worth area is already a top spot for residents moving from Los Angeles, Chicago, and New York. But how about another title — a top place out-of-state renters?
A study released April 16 by self-storage platform StorageCafé finds that Fort Worth is one of the biggest magnets in Texas for renters who’ve moved here from another state. About 24 percent of renters who relocated to Fort Worth last year came from a different state, the study shows. The number is 15 percent for Arlington.
"Fort Worth and Arlington are following (a) Texan trend of rapid job market revival — unemployment decreased by 6.5 percent and 8 percent, respectively, in the two cities from April to December 2020," the study's authors say.
Right between the two Tarrant County cities is Dallas, at 21 percent of renters.
It comes as no surprise that Austin — at 40 percent — reigns as Texas' top destination for out-of-state renters, as Texas' capital city seems to be topping all the lists these days. Where are they coming from? New York City ranks as the No. 1 source of out-of-state renters in Austin, followed by Columbus, Ohio, StorageCafé says.
“One of Austin’s strongest points in attracting new residents is the growing job market, particularly the tech field, which features some of the industry’s biggest players, including Apple, Dell, Oracle, Amazon, Facebook, and Google,” the study notes.
In the study, Houston ranks fifth among the country’s top attractors of all renters in 2020. Almost 70 percent of Houston renters came from other places in Texas, with Katy topping the list (8.8 percent).
Due in large part to the global health crisis, the rental market experienced "significant disruptions" last year, the study says. The pandemic caused changes in housing preferences and overall lifestyle.
"Amid health, affordability, and employment concerns, 18 percent more renters changed residences in 2020 compared to 2019," they say.