The main driver of Toyota’s move from Torrance, California, was housing costs.
It wasn’t so much that we don’t tax income.It was really about affordable housing. That’s what started the conversation. They had focus groups with their employees. Their people said, ‘We’re willing to move. We just want to live the American Dream.’”
Toyota did the math and found that housing costs in Los Angeles County, where Torrance is located, are three times per square foot the cost of a house in Dallas-Fort Worth.
In North Texas, median home prices are three to four times the median income, said Chuck Dannis, real estate adjunct professor at SMU and senior managing director of National Valuation Consultants. In Torrance, Calif., homes cost about seven times the median income.
The median home in Dallas-Fort Worth costs about $210,000, and the median income is roughly $58,000, In Torrance the median home price is $508,000 and the median income is $76,000.
Moving to Texas was a no brainer it seems.
Author:Rogers Healy Phone: 214-676-4270 Dated: December 17th 2015 Views: 535 About Rogers: Rogers Healy, a native Texan, has lived in Dallas for the majority of his life. Before moving to Dal...
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