If you’re looking to get into the real estate game, Texas is a great place to be.
After years of increased activity and demand, Texas metros are still expected to be among the top 10 housing markets for 2018 . Another strong indicator - construction in Texas is almost back up to pre-recession levels, which should help ease the low inventory issue.
And now it looks like Texas is also among the most cost-effective states for real estate agents.
Abodo Data Reveals Where Agents Can Earn More and Get More for Their Money
Abodo, an apartment listing website, made it their mission to discover which areas of the country were the best places for a variety of occupations. Not too long ago, they turned their attention to sales and real estate jobs .
Using data from the Bureau of Labor Statistics (BLS), Abodo honed in on information that could paint a clearer picture in terms of how easy and affordable it is to be a sales agent. The Abodo team took a look at three key factors in each metropolitan statistical area (MSA):
- Number of sales jobs
- Median wages
- Cost of rental housing
They then compared to median wage to the cost of rental housing to create an income-to-rent ratio. Overall, Abodo gave metros a score on a scale of 1-10 based on job density combined with the income-to-rent ratio.
Of all the metros in the U.S., two Texas cities made the top 10 list:
Coming in at #3 is Lubbock, Texas.
Abodo gave the Lubbock MSA a score of 6.8. Lubbock scored big on the rent-to-income scale.
Tied in 4th place is El Paso, TX.
El Paso tied the Miami-Miami Beach-Kendall area and Birmingham, AL with a score of 6.5 on the Abodo scale. Interestingly, El Paso and Birmingham had almost the exact same job density and income-to-rent ratio.
Only Florida outperformed Texas, with Fort Lauderdale (8.01) and Orlando (7.4) taking the top two spots. However, it should be noted that the rent-to-income ratio is higher in the top three Florida metros than all the other cities on the top 10 list. You might have more job opportunities in the Sunshine State, but you can live more comfortably off your salary in the Lone Star State.
Becoming a Texas real estate agent has never been easier with our TREC-approved mobile-friendly courses . You can knock out all the required real estate education at your own pace without having to turn on a desktop computer.