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As Middle, Low-Income Californians Migrate To Texas, Class-B Apartments Benefit

April 14, 2017

Middle to low income Californians are migrating to Texas due to its low cost of living and affordability, and according to the U.S Census the beneficiaries will be Class B and C apartments. Axiometrics shows San Francisco Class C apartments renting for $2,428, far more than Class A space in Austin or Dallas which are currently averaging at rents of $1,639 and $1,597, respectively, of course, Class B and C grade units would yield even more desirable rent discounts to potential tenants. The U.S Census shows that approximately 430,000 new residents flooded into Texas between July of 2015 and 2016, many heading to Austin. While an increased labor force has the potential to attract more companies to the state, it also strains departments such as those for fire, transportation, healthcare, etc. says Carlos Vaz, Co-founder and CEO of Conti Organization which specializes in value-add Class-B and some Class-C space.

As Middle, Low-Income Californians Migrate To Texas, Clas-B Apartments Benefit