new to hou

Report finds two major metros are the biggest sources of new Houstonians

Chicago and New York residents are eyeing Houston. Getty Images

Despite the current state of things — a pandemic, historic unemployment numbers, and an unstable economy — people are still thinking of moving. And, according to Apartment List, they have eyes on Texas.

The website's quarterly Renter Migration Report is out, using searches made on its platform between January 1 and April 15, 2020, to map where renters are looking to make their next move.

Chicago (3.3 percent), New York (3.4 percent), and San Antonio (22.8 percent) are also eyeing Houston, while H-Town residents are looking to keep it close in Dallas (8.9 percent), San Antonio (6.8 percent), and Austin (6.6 percent).

Austin is the most popular Texas city in the report, with the region increasingly being seen as an alternative to the expensive coastal metros where tech jobs have historically clustered. A staggering 70.9 percent of searches for apartments in Austin come from outside the metro, Apartment List reports, the highest share among the nation's 50 largest metros.

Aside from the 25 percent searching from San Antonio, the 4.6 percent from Dallas, and the 4.5 percent from Houston, 4.2 percent of renters searching for apartments in Austin currently live in the New York City metro. Furthermore, 2.5 percent of inbound searches to Austin are coming from Los Angeles and an additional 2.5 percent are coming from the San Francisco Bay Area.

For as many people who want to enter Austin from San Antonio, there's nearly the same amount that would be doing the opposite. Austin renters searched for San Antonio (16.8 percent), Dallas (7.9 percent), and College Station (6.4 percent).

While current Chicago residents and New Yorkers are typing "Dallas" into their search bars, accounting for 3.6 percent and 3 percent of data exploring Big D, respectively, it's San Antonians who are truly interested. A whopping 23.1 percent of current Alamo City residents made exploratory apartment searches in Dallas this past quarter. Overall, 32.8 percent of those looking for a place to live in Dallas are searching from outside the metro.

Meanwhile, 8.7 percent of apartment hunters currently living in Dallas are looking to move elsewhere. They searched for Houston (4.9 percent), San Antonio (4.8 percent), and Los Angeles (4.5 percent).

And though we've heard about it several times, where does San Antonio fall in all this? Turns out renters who currently live there are thinking about moving to Dallas (17.7 percent), followed by Houston (12.4 percent) and Austin (8.4 percent). Residents of McAllen (5 percent), Dallas (3.9 percent), and Houston (3.5 percent) are considering making San Antonio home.

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This article originally ran on CultureMap.

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Building Houston

 
 

New study shows Houston has minority-owned startups than any other Texas city. Photo by Tim Leviston/Getty Images

Both Houston and the state of Texas earned high rankings on a recent study by Self Financial that looked at the percentage of minority-owned startups in regions across the U.S.

"Today there are nearly 170 thousand minority-owned startups in the U.S., employing over 700 thousand people and generating close to $100 billion in annual revenue," the report said. "Based on demographic trends, these numbers are likely to grow as the population continues to diversify on racial and ethnic lines."

According to the report, about 30 percent of startups in Greater Houston are minority-owned. This is the fifth highest percentage in the country. There are nearly 5,600 minority-owned startups in the MSA, employing more than 22,700 people and bringing in more than $3.1 billion annually, the report found.

The Bayou City outranked New York but just a tenth of a percentage. But neighboring San Antonio edged out the Bayou City for the No. 4 spot, with roughly 31 percent of startups being minority-owned.

The top three cities on the list were all in California. The San Jose-Sunnyvale-Santa Clara metro had the highest percentage of minority-owned start ups. Roughly 46 percentage of startups there are minority-owned. The Los Angeles area and San Bernardino area followed in the second and third spots, respectively.

Dallas was the only other Texas metro to make the cut. According to the study, roughly 24 percent of startups there are minority-owned, earning it a No. 9 spot on the list.

The state earned a No. 4 spot on a similar ranking. According to that report, nearly 27 percent of startups in Texas are minority-owned and are responsible for employing more than 87,000 individuals and turn out roughly $11.5 billion in sales annually.

Still, Self Financial argues that minorities are underrepresented in the startup economy in cities, states, and throughout the U.S.

"Non-Hispanic whites, who represent around 60 percent of the U.S. population, own nearly 80 percent of the nation's startup businesses," the report says.

In Houston, nearly 64 percent of the population is considered a minority. And yet, those individuals only represent about 30 percent of startup ownership. Even in top-ranked San Jose the gap is wide. The population in the metro has a 68 percent minority share, and only 46 percent of startups are minority-owned.

St. Louis had the narrowest margin among large, high-rated metros. Minorities represent about 26 percent of the population there, and 25 percent go startups in the city are minority-owned.

In Texas minorities represent about 59 percent of the population, but only 27 percent of startup ownership. Nationwide minorities represent about 40 percent of the population but own about 20 percent of startups, according to the study..

Nationally minorities are most represented in the start-up economy in the accommodation, food services, and retail sectors. And the report adds that the demographic has faced exceptional challenges in 2020—from a business perspective, the largest roadblock was (and is often) access to capital.

"Minority households have lower pre-existing levels of wealth and savings to put towards a new business, while banks and other creditors are less likely to approve loans for Black or Hispanic small-business owners than they are for white business owners," the report says. "Without upfront capital to invest in a growing business, minority entrepreneurs struggle to run and scale their operations.

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