With housing prices skyrocketing in many places across North America, El Paso has become one of the biggest markets for out-of-state homebuyers.
The average home price as of the second quarter of 2021 was $374,900, while homes in the Texas border city averaged just $197K. With a price difference like that, it’s no wonder houses in El Paso are selling fast.
Across the USA, there’s been a 13.5 percent increase in home prices since the second quarter of 2020, with multiple buyers often going after the same property.
In some cases, buyers may be going up against five or six offers, which means they have to be willing to spend more for the house they want.
So, with prices continuing to rise, if you can purchase one of the El Paso Houses for Sale sooner rather than later, you may be looking at a considerable profit if you sell in the future.
And the best part is, the city is a great place to live! Here are four of the top reasons people are flocking to live in El Paso, TX:
The Strong Economy
El Paso’s economy wasn’t hit as hard by the pandemic when compared to many other cities, thanks to its high number of essential jobs.
In fact, the city has seen job growth across many different sectors, including construction and mining, information services, leisure, and hospitality.
Many new developments have been taking place as well, including an Amazon distribution center that recently filled over 250 of its 700 full-time positions and is looking to fill many more. It’s likely to be a big economic driver in the city.
A recent study by AdvisorSmith based on FBI data that examined over 3,000 cities for property and violent crimes revealed that El Paso is the country’s third-safest large city to live in.
It also ranked safer than the other big Texas cities, including Arlington, Fort Worth, and Austin. For those who are looking to settle down, feeling safe at home is obviously a critical factor.
Warmth and Sunshine
It’s not just retirees that appreciate the 300+ days of sunshine that El Paso offers each year. Life in El Paso, TX means plenty of time to take advantage of the many outdoor activities in every season, from hiking and climbing mountains to biking, golfing, and swimming.
There are 240 municipal parks, including the acclaimed Memorial Park, which boasts a swimming pool, trails, a playground, tennis courts, a softball field, and a rose garden.
The El Paso Municipal Rose Garden is spread over four acres and includes around 1,200 rose bushes with more than 300 different varieties of roses.
With such great weather year-round, all sorts of outdoor events and festivals, such as the Neon Desert Music Festival and Sun City Music Fest, can be enjoyed throughout the year, too.
The Food Scene
You’ll find some of the best authentic Tex-Mex in El Paso, along with the state’s famous BBQ, but the food scene goes well beyond that as well.
As it borders Mexico, there’s plenty of authentic Mexican food to be found, along with steakhouses serving up big juicy steaks, Italian restaurants, tapas bars, and a wide variety of other cuisines from around the world.
From the huge variety of family-friendly festivals to the urban layout designed for walking virtually anywhere, there are plenty of reasons to live in El Paso.
And with real estate prices and the cost of living in El Paso so low, now is a great time to start saving for a house in the sunshine-filled city!