Texas capital city has much to offer those that move to it. Austin Texas is generally known for being host to a varied and flourishing local music and arts scene and also carries a rather fun unofficial slogan: Keep Austin Weird.
(The actual official slogan is: “The Live Music Capital of the World” with good reason. Austin boasts some of the most amazing live music venues you will ever find.)
For people not really keen on Houston or Dallas, but still looking for a metro area within the Lonestar State, Austin happens to be the 11th most populous city in the whole of the United States. It’s got one of the best reputations in Texas for biotech, technology, business, government and education- and offers a plethora of recreational and cultural experiences you will not find anywhere but Austin.
The public school system and the crime rankings are both quite favorable. As a matter of fact, the FBI ranked it as the 2nd safest major city in the US. The unemployment rate is low, as well, with more than 22,000 new jobs for the 2013 year.
Photo credit: Avery Kristinick
From a real estate perspective, Austin has been booming for some time now and doesn’t seem to be showing any sign of letting up. The population grows more every year- but, don’t move their and expect quiet, sedate, or tranquil settings. If you move to the areas that do offer a lot of live music- move there because you enjoy it. Local music is a vital part of Austin’s heritage and nobody’s keen on changing that, save for people who moved there for all the wrong reasons. This unique city offers safer streets, but it also offers a boisterous culture that doesn’t need to be tamed.
The Austin metro area population is estimated to be roughly 1.87 million, and it’s projected to be 2.2 million by the year 2020, with more housing needed. In January, home sales were up about 4%. Single family median home prices were around $211,000, which was a 7% increase from the previous year. Housing inventory, on the other hand, has been relatively low. It has been steadily declining and was down to 63% from the prior year’s 72%.
The rental market in Austin is booming. In January, it was estimated that about 17,000 apartments were in the construction phase. Boasting a vacancy rate of around 4.2%, with an average rent of about $1159- the market’s not bad at all.