Hello World! Welcome Friends! Austin has been number one on Forbes’ list of America’s Fastest-Growing Cities for four years in a row.
Home appreciation in the last ten years in Austin has been astounding. Buyers are expecting multiple offers on homes and selling prices over their asking price.
Can you count on the Austin housing market to keep booming? Let’s take a look.
1. Austin Magic
Austin has been rated by US News and World Reports as one of the Best Places To Live in the US in 2017, 2018, and 2019.
Austin is America’s fastest-growing city, with a booming economy that shows no signs of slowing down. A number of tech companies have moved to the city in recent years.
Big names like Apple have plans to establish campuses there soon. Facebook, Dell, and BigCommerce already have Austin offices. Google is expanding its Austin base.
Folks are coming to Austin from the east and west coasts for a high quality of life and low cost of living. Those from other tech-driven locations, such as the Bay area in California, can make a good living and buy a home that is twice the size of what they could get on the coast.
Street art, local fashion, and gallery walks appeal to millennials looking for a cool place to call home. Local food, fitness, and clothing brands mean taking a break from the usual chains. Barbeque, Mexican, and sushi are just some of the local specialties.
You can find music almost every night of the week in Austin. Local theaters and clubs feature jazz, hip-hop, and rock artists for every generation.
Hiking and biking are easy on the Austin greenbelts. These are also great places for family picnics and pick-up frisbee games. Animal lovers will appreciate the abundant cat cafes, dog-friendly shops, and vegan restaurants.
Those who live in Austin love the balmy winters, although summers can get a bit stuffy. The city is refreshingly clean and well-kept.
2. Employment Opportunities
Those moving to Austin are expecting to get high-paying jobs in tech. Many recent engineering graduates make comfortable homes here.
Austin boasts many other six-figure jobs, including finance opportunities and educational positions at the University of Texas. There are a growing number of entry-level jobs as the population continues to develop.
Texas is a hot spot for both leisure tourists and business travelers. The Air B N B prospects in Austin are great since lots of folks come into town to visit newly relocated relatives or check out the area for the first time.
3. Home Prices
The median home price in Austin was $407,400 as of June 2019. There has been a 3.4% drop in home sales in the city over the last few months, as well as a drop in both new and active listings, over the past year. The area surrounding Austin, however, is experiencing strong gains.
While the median home price climbed astronomically over the last ten years, the market shows some signs of slowing down. There are still multiple offers on homes, and most homeowners can expect to sell in Austin in about two weeks. The change, however, is not as dramatic as it once was.
Neighborhoods north and south of the city’s core are becoming more popular, as families can expect to find homes at lower prices and with lower property taxes. And businesses have been following them there.
While home prices are leveling off, the overall economy of Austin continues to grow and thrive. And new investors will be surprised at the fine homes they can get for their money at a fraction of coastal-city costs.
4. Rental Market
Rentals remain popular in Austin, with the average rent around $1,433 for an 864 square-foot apartment. Two-and-three-bedroom apartments have more generous square footage.
The rental market in Austin remains strong, and there is a continual demand for more inventory. The most expensive areas to rent in Austin are in Downtown, South River City, and Holly. The most affordable neighborhoods include Franklin Park, University Hills, and Georgian Acres.
5. North and South
Areas north and south of Austin’s downtown are becoming increasingly popular due to their hip lifestyles and highly-rated school districts.
Rollingwood, for example, is located just outside of downtown near Zilker Park. While it is close to the urban center, it offers a rural feel and most residents own their own homes. Rollingwood has many of its own restaurants, coffee shops, and parks.
There are also affordable suburbs such as Leander, located thirty minutes northwest of Austin. You can get great public schools, a small-town feel, and municipal parks and golf courses without breaking the bank. Homes here range from $200,000 to $800,000.
Hutto is a good investment for families and professionals working in and around Austin because of its easy thirty-minute commute. Ranches, split-level homes, and colonials begin at around $150,000. It boasts a cute downtown and abundant green space.
Forty minutes southeast of Austin is Lockhart, the “Barbeque Capital of Texas.” The town has a large state park, lots of independently-owned shops, and plenty of live music venues. Lockhart boasts plenty of adequate and cozy homes in the $100,000’s.
Young professionals might find themselves at home in Buda, the “Outdoor Capital of Texas.” Located just twenty minutes south of Austin, most homes are around $200,000. The town has great schools, lots of green space, cocktail bars, and shops.
If the home styles don’t appeal to you in these areas, you can custom-build your own hut with brand-new everything. Read more here.
The Austin Housing Market
While the Austin housing market has begun to level off a bit, it remains a growing, thriving place to invest and settle down. If you do a little homework, you can expect to find a great home and get a nice return on your investment.
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[…] able to create almost a half-trillion-dollar economy. It’s beaten out it’s rival in the property market, at least for now. It’s the best time to invest in modern apartment estates if you’re […]