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Texas continues to dominate the country’s housing boom, creating the most high-growth markets in the U.S over the past decade.
The Lone Star State ranks first for having 17 of the 50 — more than a third — ZIP codes that have grown the most from 2014 to 2023, according to an analysis by RentCafe, which looked at housing inventory and population growth across 32,000 ZIP codes.
Texas, particularly its suburbs, benefits from several factors that make it a top generator of new high-growth markets, along with many other Sun Belt markets which had numerous ZIP codes on the top-50 list: abundant land, ease of permitting and lack of state income tax, said Doug Ressler, manager of business intelligence at Yardi Matrix, RentCafe’s parent company.
Job growth is also among the top factors behind these regions’ population and housing increases.
“All these employment gains that you’re seeing from health, education, services — not so much manufacturing — are able to sustain these populations and are really showing that these population growths are occurring,” Ressler said.
The findings come as many of the top urban areas in Southern states continue to struggle with oversupply and tapering home prices that had peaked during the pandemic-era spending spree.
The Texas ZIP with the greatest growth over the past decade was 77441 in Fulshear Texas, a suburb of Houston. Fulshear’s housing inventory soared by 391 percent — fourth overall — while its population grew by about 483 percent.
The Texan market that reported not only one of the strongest inventory hikes but also one of the highest increases in median income over the past decade was Celina, Texas, which is part of the Dallas-Fort Worth metroplex. Celina’s housing inventory climbed nearly 221 percent, while its median income rose more than 53 percent over the same period.
While Texas had the most new growth enclaves, the California ZIP code of 91708 in Chino, which sits between Los Angeles and San Bernardino, was the area with the greatest increase in housing inventory of the ZIP codes RentCafe studied. Over the past decade, Chino’s inventory climbed more than 1,300 percent as its population surged by over 400 percent to roughly 17,300 people.