Who are all these people who can afford to pay $300 per square foot for a house?

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The Californians, that’s who.

Data from Yardi show that nearly 8,000 people migrated from California to Dallas in 2019. Most of them came from Los Angeles County, where the median home price in 2020 was $775,000.

In Dallas last year, the median home price was about $302,000.

California residents come to Texas looking for cheaper homes with more square footage, Yardi’s recent study of the migration shows.

Here are some highlights:

  • More than 23,800 Californians relocated to Dallas, Tarrant, Collin and Denton counties in 2019 alone. Los Angeles County was the “main supplier” of new residents, followed by the San Diego and Orange counties.
  • A typical home in the DFW area is 52% cheaper than in notoriously expensive LA County, resulting in a list price gap of $438,000.
  • Living space is also larger in the Dallas Metroplex specifically, homes offer more than 650 square feet in extra living space compared to LA County.
  • Additionally, the unemployment rate is lower in DFW – 5.8%, versus over 10% in LA County, whereas the average annual pay is lower in DFW compared to LA County ($67,000 versus $73,000).