More people aren't just coming to Texas, they're coming to Houston. In 2019, Houston will gain the highest number of new residents in the state, according to a forecast from commercial real estate services company Marcus & Millichap.
Houston is on track to draw about 125,000 new residents and 110,000 jobs to the area this year, thanks to "an influx of professional and business services positions coupled with strong construction, retail and manufacturing-related hiring," according to the report.
Why H-Town? "A wealth of job opportunities in 2019 and a low cost of living push net migration in Houston beyond 60,000 people for a second consecutive year," forecasters say in the report. "An influx of new residents and median income growth that exceeds the national rate supports the formation of 50,000 households. This rapidly growing populace bolsters retail spending by at least 5 percent for a third consecutive year."
Percentage-wise, Houston matches the Dallas-Fort Worth area in expected population growth, while San Antonio is projected to increase by 1.5 percent in 2019, the report says. The Austin metro area's population growth in 2019 will surpass 50,000 for the ninth year in a row. Of those residents, more than 13,000 will be millennials, according to the report.
The forecast also shows 2019 population growth rates for Austin, Dallas-Fort Worth, Houston, and San Antonio being slightly lower than their estimated growth rates for 2018.