North Texas is the third-most affordable spot in the U.S. to get a startup off the ground in a list from Clever Real Estate, a nationwide referral service that helps people sell homes and save on commissions. The local region trailed only the Austin and Atlanta areas on the 50-city list.
The report looked at several metrics including startup density and investments in businesses along with education and cost of living. For the Dallas area, Clever Real Estate pointed to population growth and available capital for entrepreneurs.
“People are flocking to the Metroplex,” it said.
The Dallas region continues to get attention for its tech talent and start-up activities.
In the second quarter, the Dallas area saw investments of nearly $150 million, bringing the overall total to $380 million for the year, according to the PwC/CB Insights MoneyTree Report. That tops the total for all of 2018 and each of the two years before that.
In addition, San Francisco-based Uber, the ride-sharing service, is set to open up a large hub in Dallas in the coming months.
Metros performing more poorly on the startup list included some of the areas most associated with tech. The San Francisco area came in at No. 19 while the San Jose metro took No. 47 on the Clever list. The Boston region was No. 50.
The state of Texas overall fared well with its four largest cities placing in the top 10. The Houston region was No. 6, and the San Antonio area took No. 8.
“Texas was ranked highly (#1 or #2) on many of our state-wide measures, including new and growth of business applications, number of private equity backed businesses, billions invested in businesses, and number of private equity firms,” said the report.