Texas still ranks as No. 1 in U.S. for inbound moves, but growth dips

by the numbers

Texas added 76,000 out-of-state residents in 2024, according to a new report. Photo via Unsplash

Texas continues to be the country’s No. 1 magnet for newcomers from other states, giving a boost to the state’s economy. However, Texas’ appeal weakened in 2024 compared with the previous year, due in large part to spiking home prices.

An analysis of U.S. Census Bureau data by self-storage platform StorageCafe shows Texas saw net interstate migration of 76,000 people in 2024. Texas’ net interstate migration dropped nearly 50 percent from 2023, according to the analysis. Net migration refers to the number of incoming residents minus the number of outgoing residents.

California remained the top source of newcomers for Texas, sending nearly 77,000 residents to the Lone Star State in 2024, the analysis says. Florida ranked second, followed by New York, Colorado and Illinois.

“These trends reveal Texas’ continued pull from both high-cost coastal markets and other large Sun Belt states, resulting in a mix of affordability-driven and job-driven relocation,” StorageCafe says.

Putting a damper on the influx of new residents: a roughly 124 percent surge in Texas home prices over the past decade, according to StorageCafe.

“While the state remains significantly more affordable than California, its top feeder state, the once-wide pricing gap has narrowed,” says StorageCafe. “For many movers, Texas is still a relative bargain, but no longer an undisputed one.”

Nonetheless, Texas keeps attracting young, highly educated people, which bodes well for the state’s long-term economic outlook, StorageCafe says. More than half of new arrivals to Texas in 2024 held at least a bachelor’s degree, and the age of newcomers averaged 32.

Where are most of these young, highly educated newcomers settling?

Lloyd Potter, former Texas state demographer, tells StorageCafe that population growth in Texas is happening most rapidly in suburban “ring counties” at the expense of slowing growth in urban cores. Ring counties are on the outskirts of major metro areas.

“Many people are moving from urban cores to suburban rings seeking lower costs, newer housing, better schools, and more space,” Potter says. “Typically, a move to a suburban county will be within commuting or hybrid‑commuting distance of major metro economies.”

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Based on recent population growth figures, you should probably get ready for more traffic. Photo courtesy of TxDOT

Texas population is barreling toward eye-popping milestone in 2022

growth spurt

Texas is edging closer to a milestone — a population of 30 million.

Estimates released December 21 by the U.S. Census Bureau show the population of Texas grew 1.1 percent between July 1, 2020, and July 1, 2021. During that period, the state added 310,288 residents, going from 29,217,653 to 29,527,941. The tally takes into account births, deaths, people moving to Texas, and people moving out of Texas.

Texas ranked first among the states for the number of residents added from 2020 to 2021, which worked out to 850 new residents per day, and seventh for percentage growth. At 2.9 percent, Idaho ranked first for percentage growth.

If Texas maintains a year-to-year growth rate of at least 1.1 percent, the state might break the 30 million mark sometime in 2022. Driving the state’s continued population explosion are people of color, who’ve made up 91 percent of new Texas residents in the 21st century, according to The Texas Tribune.

Lloyd Potter, the state demographer, says it’s conceivable that Texas could be home to 30 million residents in 2022.

“However, our rate of growth has slowed noticeably between 2020 and 2021, with lower fertility, higher mortality, and less international migration. If we add the same number of people estimated to have been added between 2020 and 2021, then it looks like we’ll come up a bit short of 30 million in 2022,” Potter says.

Throughout the country, the COVID-19 pandemic helped drag down population growth from July 2020 to July 2021. The U.S. population rose just 0.1 percent during that period — the smallest one-year increase since the nation was founded.

“Population growth has been slowing for years because of lower birth rates and decreasing net international migration, all while mortality rates are rising due to the aging of the nation’s population,” Kristie Wilder, a demographer at the Census Bureau, says in a news release. “Now, with the impact of the COVID-19 pandemic, this combination has resulted in a historically slow pace of growth.”

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This article originally ran on CultureMap.

Nearly 4 million people became Texans in the past decade. Courtesy photo

Texas explodes with 16 percent surge in population, new census data shows

Growth spurt

Texas' population swelled so much from 2010 to 2020 that it essentially swallowed a state the size of Oklahoma.

Figures released April 26 by the U.S. Census Bureau show Texas gained 3,999,944 residents from April 2010 to April 2020. By comparison, the entire population of Oklahoma totaled 3,959,353 in April 2020. Those nearly 4 million new residents brought Texas' population to 29,145,505 as of April 2020.

Buoyed by a spike in the Hispanic population and an influx of out-of-state and international arrivals, Texas led the nation for the sheer number of residents added from the every-10-years headcount in 2010 to the headcount in 2020. Florida ranked second in that category (2,736,877), and California ranked third (2,284,267).

"The growth for Texas was a little bit slower than expected, which may be a function of lower fertility rates post-Great Recession and slower international migration," Lloyd Potter, the Texas state demographer, tells CultureMap.

California still remains the biggest state as measured by population (39,538,223). However, the Quartz news website reported in 2019 that Texas' population could surpass California's by 2045.

Meanwhile, Texas holds the No. 3 position for percentage population growth from 2010 to 2020, according to Census Bureau data. The state's population shot up by 15.9 percent during that period, behind only Utah (18.4 percent) and Idaho (17.3 percent). By contrast, California saw its population climb by just 6.1 percent from 2010 to 2020.

As a result of population shifts across the country, Texas will pick up two seats in the U.S. House, bringing its total to 38, the Census Bureau says. Five states will add one seat each: Colorado, Florida, Montana, North Carolina, and Oregon. Seven states will lose one seat each: California, Illinois, Michigan, New York, Ohio, Pennsylvania, and West Virginia.

Based on earlier population estimates, experts had expected Texas to tack on three congressional seats following the 2020 Census. But Potter says Texas' growth relative to population changes in other states pared the Lone Star State's final tally to two more seats.

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This article originally ran on CultureMap.

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New Houston biotech co. lands $30M for pulmonary fibrosis drug

drug money

Most of us can claim a scar or two on our bodies. But when scarring develops inside the body, it’s known as a fibrotic disorder. A freshly launched Houston company, Oorja Bio Inc., is working on a treatment that can help to repair cells and reduce the damage wrought by the growth of fibrotic tissue in patients.

Late last month, Oorja Bio hit the scene with a pair of big announcements. Not only has the company raised a $30 million Series A thanks to founding investor California-based Westlake BioPartners, but it has also already paved the way for a Phase 2 study to take place this year.

Oorja Bio received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA), allowing the company to test its treatment in patients with idiopathic pulmonary fibrosis (IPF), a scarring of the lung tissue. IPF affects more than 150,000 adults in the United States and can result in a range of symptoms from shortness of breath to organ failure and death as it progresses.

Oorja Bio’s lead drug candidate, ORJ-001, was shown in a Phase 1 in-human trial to demonstrate “therapeutically relevant exposure and favorable tolerability” in 64 healthy adult volunteers in whom it was administered daily or weekly, according to a news release. Pre-clinical studies of ORJ-001 showed durable target tissue engagement and biomarker activity in bleomycin-induced lung fibrosis.

Administered subcutaneously, ORJ-001 is intended to improve and even restore function in cells that can reduce the signaling that causes IPF. It stops advancement of IPF and also allows for tissue repair. Currently available treatments for the disease can slow the development of IPF down, but do not address the declining lung function that’s inherent in its progression.

“The clinical and preclinical results from our studies to date give us confidence that ORJ-001 represents a novel treatment approach with the potential to repair and reverse fibrosis and modify disease progression in IPF,” Dr. Janethe Pena, CMO of Oorja Bio, said in the release.

“Our team is energized to deliver on our goal of redefining the future of fibrotic diseases, beginning with ORJ-001,” CEO and founder Sujay Kango added. “As we advance ORJ-001 in the clinic, we are embracing the paradigm shift in our biological understanding of IPF pathology that aligns with the central role of the alveolar epithelium. ORJ-001 was designed with this biology in mind and may provide, for the first time, a therapeutic intervention that repairs and reverses fibrosis and promotes disease modification.”

Most patients live only three to five years following their IPF diagnosis. Soon, ORJ-001 and Oorja Bio could give them a fighting chance.

Axiom Space tops $525M in oversubscribed round, announces Swiss subsidiary

funding boost

Axiom Space tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million.

Axiom shared in February that it had secured $350 million in a financing round led by Type One Ventures and Qatar Investment Authority. In the latest release from the company, Axiom reports that Japan-based MUFG Bank Ltd. joined the round as a new investor, in addition to continued participation from existing backers.

The funding will go toward developing the company's commercial space station, known as Axiom Station, and the production of its Axiom Extravehicular Mobility Unit (AxEMU) under its NASA spacesuit contract.

“Investor interest in this round outpaced what we set out to raise, which speaks to the moment we’re in,” Jonathan Cirtain, CEO and president of Axiom Space, said in the news release. “Our partners see what is possible in low-Earth orbit, and they see who is positioned to lead it.”

Axiom announced last month that it planned to open a Japanese subsidiary July 1. Earlier this week, it also shared plans to establish Axiom Space Switzerland, a wholly owned subsidiary based in Lucerne that is also expected to begin operations this summer.

The Switzerland subsidiary aims to establish Axiom's presence in Europe and help it partner with the European Space Agency and other space organizations and companies on the continent.

“Europe is a founding leader in the creation of the commercial space economy, and Switzerland is uniquely positioned to convene the government agencies, research institutions, and industrial entities that will shape its next decade,” Cirtain added in a separate release. “Axiom Space Switzerland facilitates the scaling of development and deployment of the infrastructure that will succeed the International Space Station.”

Texas cashes in among 10 best U.S. state economies in 2026 report

State Economics

A new study gauging the success or decline in economic performance in every state has revealed Texas' economy remains stable in 2026 after it dropped out of the top five to No. 8 last year.

Texas boasts the No. 8 best state economy in the U.S. this year, according to WalletHub's annual "Best & Worst State Economies" report. The personal finance website's analysts ranked all 50 states and the District of Columbia across 28 relevant metrics to measure each state's economic activity and health status, and its "innovation potential."

Notably, Texas leads the nation for the most exports per capita in the U.S. in a five-way tie with Louisiana, Kentucky, North Dakota, and Indiana. Across the study's three main categories, Texas ranked highly for its economic activity (No. 7) and economic health (No. 11), and the state's "innovation potential" rank is the 24th best in the nation.

This is how WalletHub ranked Texas' economic performance, where No. 1 is considered the best and No. 25 is considered average:
  • No. 6 – Change in non-farm payrolls
  • No. 8 – Change in GDP
  • No. 8 – Startup activity
  • No. 11 – Annual median household income
  • No. 18 – Government surplus/deficit per capita
  • No. 21 – Percentage of jobs in high-tech industries
  • No. 30 – Unemployment rate
WalletHub previously ranked Texas one of the top three states to start a business in 2026, with Houston earning its own entrepreneurial acclaim in separate rankings of the best big cities for new businesses and for starting a career.

"U.S. economic growth depends heavily on the performance of individual states, and some contribute more than others," the report's author wrote. "For example, California, Texas, New York and Florida have economies so large that if they were countries, they would rank in the top 20 in the world."

The five states with the worst state economies in 2026 are Rhode Island (No. 47), Maine (No. 48), Louisana (No. 49), Kentucky (No. 50), and West Virginia (No. 51).

The top 10 best state economies for 2026 are:

  • No. 1 – Massachusetts
  • No. 2 – Washington
  • No. 3 – Utah
  • No. 4 – California
  • No. 5 – Delaware
  • No. 6 – North Carolina
  • No. 7 – New York
  • No. 8 – Texas
  • No. 9 – Colorado
  • No. 10 – Florida

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This article originally appeared on CultureMap.com.

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