Austin: The Best Growth City in America

Moving to Austin? Or looking to buy real estate in Austin? You'll want to watch this video.

Put simply - Austin is the best city for growth in the United States.

It has increased its metro-area population by an astounding 500k over the last decade. That equates to 50k people per year and 150 people per day!

Austin is also experiencing significant growth in the income of its population. Back in 2009, the average middle-class household earned $56k. Fast forward to 2019 and they're earning $81k. A $25k increase in a mere 10 years!

No other metro in the US combines Austin's levels of population and income growth. This is, of course, a great thing for real estate. The more people that need housing and the more money they have to spend on housing, the more values will go up.

But a funny thing has happened to Austin's real estate market in recent years. Over the first half of the last decade - from 2010 to 2015 - Austin's home value growth nearly tripled the US average. But over the last five years - from 2015 to 2020 - Austin's home value growth is below average!

Why? Because Austin is very good at permitting new housing supply. In fact, no other metro permits more new housing units. The abundance of supply is great for keeping things relatively affordable. However, it's not so great for long-term price appreciation. Austinites should expect their home value growth to continue to trail the rest of the country.

But that's okay - one of the things that makes Austin great is its relative affordability compared to all the great things it offers. Sustaining that affordability will lead to continued dynamic growth into the future.

Website: https://reventureconsulting.com/
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Видео Austin: The Best Growth City in America канала Reventure Consulting