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TEXAS VS. CALIFORNIA

  • Aug 31, 2023
  • 1 min read

Texas has become a hot spot on my radar ever since Tommy accepted his admission to TCU last year. In visiting the state more, and completely falling in love with Ft Worth, I have become extremely interested in their real estate market - occupational hazard.



We’ve all heard it a million times - “California is so expensive; Texas is way cheaper”! After running the real estate numbers, the results are dare I say, interesting...




"True" or "False": California homes are so expensive, Texas is WAY cheaper.


If you said "True" the short answer is that's not correct, well, not exactly. Here are a few reasons why:

  1. Taxes Are HIGHER in Texas: The annual tax rate in Texas is 2% a year based on the assessed value in California, there is an annual tax rate of 1% and it can not increase more than 2% a year

  2. Insurance Is HIGHER in Texas: In Texas, the average annual insurance premium is $3,875/year in California, the average insurance rate is $1,400/year


So, you may be asking, "What does this mean?" If so, here's a little breakdown:


If you had $1,000,000 to spend you'd get more land and home in Texas compared to what you can get in California. Over the time you owned that $1,000,000 home though, you will pay more in Texas than you would in California for it.



To visualize what you can get in Texas vs. California right now, here are a few homes listed at similar price points in each area:

Please reach out if you’d like to chat about this more!

 
 
 

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P: 619-508-5878 | E: kurtney@compass.com

1953 San Elijo Avenue, Cardiff, 92007 

© 2019-2024 by Kurtney Noonan

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number [01527365]. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerages.

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