Things to Look out for When Buying Your First Residential Property
Written by Jerin Rohde On 26 April 2020
There are (at least) three reasons why real estate investors just might decide to fall in love with the Austin real estate market this year.
The city ranks as the #1 place to live in the U.S., ranks #1 for the major city with the highest rent increases over the past 10 years, and is projected to be the #1 Southern housing market to outperform in 2020.
Austin is located in the Hill Country region of Central Texas, surrounded by lakes and rivers, including the Colorado River. The city is the state capital and the 11th most populated city in the country.
The economy in Austin is as diverse as the city’s residents, earning several well deserved nicknames including Keep Austin Weird, Live Music Capital of the World, and Silicon Hills. Austin is home to numerous high tech companies including Apple, Amazon, and PayPal. Major industries keeping the Austin economy booming include the technology, biotechnology, and pharmaceutical sectors.
Keep reading to learn why Austin just might be the real estate market to fall in love with in 2020.
Explore Catalyst Investment Properties here.
Population Growth
Austin has also been #1 in population growth for eight years in a row, according to CBS Austin. In fact, about 100 people move to Austin each and every day. In less than 10 years, the population of the Metro Austin area has grown by about 20%.
Key Population Stats:
- City of Austin is home to nearly 965,000 residents with almost 2.2 million people residing in the Austin-Round Rock metropolitan area.
- Austin is located in Travis County and is the 2nd most populated capital city in the U.S., right behind Phoenix.
- Population in Austin increased by 32.7% between 2009 and 2018.
- Austin remains one of the top destinations for migrating talent, with about 6.7% of Austin residents in 2018 having lived elsewhere just one year earlier.
- By 2050 the population of the Austin MSA is projected to more than double in size to more than 4.5 million residents. Median age in Austin is 31.8 years vs. 33.9 years for the State of Texas.
There are (at least) three reasons why real estate investors just might decide to fall in love with the Austin real estate market this year.
The city ranks as the #1 place to live in the U.S., ranks #1 for the major city with the highest rent increases over the past 10 years, and is projected to be the #1 Southern housing market to outperform in 2020.
Austin is located in the Hill Country region of Central Texas, surrounded by lakes and rivers, including the Colorado River. The city is the state capital and the 11th most populated city in the country.
The economy in Austin is as diverse as the city’s residents, earning several well deserved nicknames including Keep Austin Weird, Live Music Capital of the World, and Silicon Hills. Austin is home to numerous high tech companies including Apple, Amazon, and PayPal. Major industries keeping the Austin economy booming include the technology, biotechnology, and pharmaceutical sectors.
Keep reading to learn why Austin just might be the real estate market to fall in love with in 2020.