Austin, Texas is more than a city; it’s a lifestyle. Living in Austin is about celebrating the city’s vibrant culture and history. Living in Austin is about the people, the music, the food, the events, and the places that make this city special.
On average, 63,000 people relocate to Austin each year to enjoy the city’s friendly and laid back lifestyle, the warm weather, gorgeous scenic beauty, rich and vibrant culture, and numerous outdoor activities. People are moving to Austin, Texas in record numbers, drawn by the city’s robust economy, low cost of living, affordable housing market, and favorable business climate. Read more about why so many people are relocating to our great city.
Why People are Moving to Austin:
Austin ranks 4th out of 200 large cities in the Milken Institute's annual survey of Best-Performing Cities. Austin has consistently ranked well in this prestigious survey having ranked number 2 in 2010 and number 1 in 2009. The Best Performing Cities index includes both long-term (five years) and short-term (one year) measurements of employment and salary growth. Among the reasons Austin has consistently ranked at the top of this prestigious list of top performing metropolitan economies are investment in technology, diversified technology bases, high level of workforce education, and climate for developing and start-up companies.
For the five-year period ending in 2010, Austin had the third-fasted job growth in the nation. It is the largest metro to exceed its peak level of employment prior to the recession. Given its concentration in chips and computers, both volatile industries, the region's economic stability is remarkable. The University of Texas, Austin, and the state capital have helped insulate Austin from the national economic contractions.
Austin is a center of semiconductor production. After weathering a collapse in demand, Samsung Austin Semiconductor (SAS) is expanding its huge fabrication facility. An incremental $3.6 billion investment is under way, bringing it total investment in the Austin area to 9.2 billion. The facility is expected to create 7,600 jobs directly and indirectly, $296 million in wages annually, and 1.4 billion in total local economic activity per year. In addition, eBay is expanding its Austin office, and the city is attracting some operations from Facebook.
Based in Round Rock, Dell is the largest technology employer in the metro area with more than 14,000 employees. It is investing heavily in data centers and rapidly adding high-skilled employees. IBM, Freescale Semiconductor, AT&T Computer, National Instruments, and AMD are major employers in the region as well.
Retail and housing markets are recovering, thanks to job and wage gains at these tech employers. Due to an influx of new residents, housing prices barely slipped during the recession. Austin has one of the most educated populations in the country; over 37 percent of adults have at least a bachelor's degree.
The average home price in the Austin/Round Rock/San Marcos area was $183,000, making homes in this market among the most affordable in the nation.
Living in Austin is an interactive experience. Whether it’s jogging around Lady Bird Lake, swimming at Barton Springs, boating at Lake Travis or Lake Austin, partying down on 6th Street, there is always something to do in Austin. Local events like South by Southwest, Austin City Limits Music Festival, Old Pecan Street Festival, Republic of Texas Biker Rally, Texas Relays, Travis County Rodeo and Fair, and hundreds of other festivals draw hundreds of thousands visitors each year.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from September 21st, 2014 at 1:01pm CDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
All information provided is deemed reliable but is not guaranteed and should be independently verified.