Which of the big 4 cities in Texas is the best to invest?

[Tyler D.]

I'm looking to invest in Texas, and have been looking at Austin, Dallas, Houston, and San Antonio. All 4 cities have their pros and cons, and I haven't yet decided which one I want to focus my efforts on. I'm not from Texas, but I have done a fair amount of research and want to know what you think. The way I see it, here are the pros/ cons for each city:

1) Austin - 

Austin is the most expensive by far, with rents not substantially higher than the other cities. Due to this I would likely stay away from Austin, as it would be difficult to get cashflow.

2) Dallas -

Substantially cheaper than Austin, and has a lot of job growth happening. Houses are still fairly expensive compared to Houston, but appreciation may be better if companies that are moving to Texas choose Dallas over the other 3 cities.

3) Houston - 

House prices are quite cheap and you can cashflow quite easily from what I've seen on the MLS. It has the downsides of being somewhat invested in oil and being vulnerable to hurricanes, but from what I've read both of these downsides are mitigated by Houston having a pretty broad job market nowadays, and buying homes outside of flood zones. Houston has had huge population growth and good potential for appreciation if businesses moving to Texas choose Houston.

4) San Antonio -  

The cheapest of the 4 by a fair margin, and pretty easy to get cashflow. It is close to Austin which could help San Antonio as the two continue to develop toward one another. The downside to San Antonio is a lack of jobs compared to the other 3 metros, though this could change. Overall, I like Houston and San Antonio the most as they both offer cashflow with appreciation potential in the future.

Keep in mind, this is all written by someone who hasn't lived in Texas, and is based on what I've read the internet. I'd like to know what you think about the best metro to invest in Texas. Let me know what you think!