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Real Estate News Real Estate News

Why Is Everyone Moving to Austin?


Written By: Jaymi Naciri
Tuesday, April 23, 2019

Migration to Austin has skyrocketed over the last decade; according to MagnifyMoney, ldquo;60 of the cityrsquo;s current residents moved here since 2010.rdquo; That increase in population has put pressure on housing, resulting in diminishing inventory and skyrocketing home prices. Yet, still they come. At a rate of nearly 150 people per day

So what makes Austin so ideal? Wersquo;re breaking it down.

The jobs

Austin has the fastest job growth in the nation 40 since 2006,rdquo; according to MagnifyMoney, along with ldquo;>

The city has been called ldquo;the next Silicon Valleyrdquo; and is even referred to as ldquo;Silicon Hillsrdquo; thanks to the many tech and tech->

bull; Facebook
bull; Apple
bull; Google
bull; eBay
bull; Hewlett-Packard
bull; Dell
bull; IBM
bull; Cisco Systems
bull; 3M
bull; Intel
bull; Samsung

Itrsquo;s weird

The cityrsquo;s motto, ldquo;Keep Austin weird,rdquo; originated as a promotion for the Austin Independent Business Alliancersquo;s small local businesses in the city, and stuck. Today, itrsquo;s representative of a culture that remains a little hippy, a little creative, a little more evolved, and decidedly more liberal than much of the rest of the state of Texas.

Itrsquo;s welcoming

ldquo;The creative, collaborative hub still feels like a small town,rdquo; said Culture Trip. ldquo;Street art, local fashion and jewelry designers, art galleries, and studio walks ndash; Austin is a community that values art and working together. In fact, Austin was ranked the number one place in the U.S. to start a business by CNBC in 2016. Though nearly every chain imaginable is available, Austin runs on small businesses, meaning itrsquo;s possible to eat, shop, and explore for months before stopping by a chain store or restaurant. Food, fitness, and clothing brands join forces most weekends with ample flea markets, farmerrsquo;s markets, and pop-ups to attend.rdquo;

An abundance of events and activities

There is always something to do here, from hanging out in Zilker Park to checking out the live music scene. Events like SXSW in March, the Austin Food amp; Wine Festival in late April, and Austin City Limits in October draw more attentionmdash;and more visitors who then become residentsmdash;to the city.

Great restaurants

ldquo;This ever-expanding city is the epicenter of oak-smoked barbecue and the greasy foothold of Tex-Mex fare,rdquo; said Eater. ldquo;While longtime restaurants keep a close eye on the surprisingly abundant bounty the hot climate provides, new restaurants just keep coming due to Austins >

Plenty of housing

ldquo;There are two things that drive population growthmdash;jobs and affordable housing,rdquo; said Medium. ldquo;Austin has bothhellip;and although housing prices and property values in the city proper continue to rise, cheap land and little regulations in surrounding areas make it easy for developers to build large scale projects quickly. For the past few years, Austinrsquo;s home sales hit a record high according to the Austin Board of Realtors, with little signs of stopping.rdquo;

Home values

Despite the aggressive rise in home prices over the last decade-plusmdash;up 54 since 2006mdash;homebuyers still enjoy appreciation in their homes thanks to the popularity of the city. According to Zillow, Austinrsquo;s current median home value is 365,600. ldquo;Values have gone up 7.6 over the past year and Zillow predicts they will rise 3.6 within the next year.rdquo;



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