Texas Gains $5 Billion in Taxpayer Wealth as 419,000 New Residents Lift Economic Clout
Updated
Updated · Fox News · Jul 26
Texas Gains $5 Billion in Taxpayer Wealth as 419,000 New Residents Lift Economic Clout
1 articles · Updated · Fox News · Jul 26
Summary
$5 billion in adjusted gross income flowed into Texas from interstate movers, according to IRS migration data analyzed by the Tax Foundation, adding to fresh evidence that the state is attracting not just people but higher-income households.
419,000 residents were added in 2025—more than any other state—while Dallas-Fort Worth posted the nation's biggest metro population gain and Houston, Austin and San Antonio also ranked among the fastest-growing.
$2.9 trillion in economic output and rising per-capita GDP suggest Texas is becoming more productive, not merely larger, as newcomers bring spending, investment, entrepreneurship and tax revenue.
Low costs, no state income tax, strong supply chains and predictable regulation are helping pull in manufacturers, executives and corporate investment from higher-cost states such as California and New York.
That mix of income migration, broad metro growth and business relocation is reinforcing Texas' position as a leading U.S. economic hub over the coming decade.