Texas

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Texas Description/Overview

Texas is the second largest state in terms of both population and land area. In fact, Texas is larger than any European country except Russia. The state offers some of the most beautiful scenery in the country. Stretching from the Gulf of Mexico to the heart of the Southwest, Texans enjoy access to beautiful beaches, lakes, rolling hills and the Great Plains. Texas has become increasingly popular with retirees in recent years and many people age 55+ have migrated to the state to take advantage of its mild climate and low real estate prices. In addition, many retirees are drawn to the fact that there is no state income tax. However, for those attracted to living in a state with no income tax, be aware that the overall tax burden in Texas is one of the highest in the country. In fact, in the 2008 book, "America's Best Low-Tax Retirement Towns," five cities in Texas fell into the "Tax Hell" category.

Real Estate

Real estate prices in Texas are among the lowest in the country. The state has been blessed with an abundance of land and cheap labor. Most large metropolitan areas in Texas enjoy prices that are below the national average and some places in the state are as much as 20 percent below the national average. The reasonable prices and open spaces have attracted many retirees in recent years.

A number of active adult and retirement communities in Texas have sprung up in recent years as developers hurry to meet the growing demand for 55+ age-restricted housing. Most of the Texas active retirement communities are located around the major population centers such as Houston, Dallas/Fort Worth, Austin and San Antonio. Active adult communities such as Sun City Texas in Georgetown offer all the advantages of active lifestyle living complete with numerous amenities, social clubs and a golf course. Del Webb also has active adult communities in Dallas, Houston and San Antonio. In addition to Del Webb, a number of other retirement communities are available throughout the state.

Climate

Because Texas is so large, the climate varies considerably throughout the state. Places along the Gulf Coast experience hot, humid summers, plenty of rain and no snow. West Texas is generally hot and dry and there is scarce rain or snowfall. Central Texas Hill Country tends to get quite hot in the summer, but winters are mild and there is plenty of rain. Because the climate is so diverse, we strongly encourage you to research the area you are considering for retirement. In addition, a trip to the area in both winter and summer would help you decide if the climate suits your lifestyle.

Recreation and Culture

Texas historically has had a culture that has been a blend of Southern, Western and Mexican influences. In addition to Texas' traditional culture, immigration has caused Texas to become a melting pot of different cultures from around the world. As a result, Texas residents are treated to a wide variety of social and cultural opportunities. Houston has long been known for its vibrancy in the visual and performing arts. Fort Worth is an epicenter of the North Texas region's art scene and is home to several notable art museums and galleries. Austin has emerged as the nation's second largest country music center behind Nashville and is touted as the "Live Music Capital of the World." In San Antonio, the Riverwalk provides a lively addition to the city's downtown district and is home to numerous bars, shops and restaurants.

Recreational enthusiasts will never run out of activities in Texas. The ocean provides a great destination for beach lovers, scuba divers and fishermen. The Hill Country makes for great hiking and is home to an abundance of lakes. Sports are a big part of life in Texas and there are many pro and college teams playing throughout the year. For those who choose to live in an active adult community, an activities director coordinates numerous recreational, cultural and social outings to keep almost any active adult busy.

Taxes

Although there is no state income tax in Texas, the state's overall tax burden is one of the highest in the country. Sales tax is generally 8.25 percent throughout most of the state, though it can vary in certain cities. Prescription drugs, groceries and medical services are exempt in most cities. Property taxes are high and can range from 2 to 3 percent of the home's value.

Continuing Education and Job Opportunities

There are nearly a dozen colleges and universities throughout the state of Texas. Many of these offer special programs for older adults such as free lectures or reduced tuitions. For retirees who want to continue working as a means to supplemental income or as a way to stay busy, there are plenty of work opportunities in the larger metropolitan areas. Those who settle in more rural areas may find that only part time work is readily available.