More than 180 people move to the Austin metro each day, placing it among the fastest-growing cities in the country. Over the last eight years, the area has seen its population grow by more than 20%. Key drivers of this migration include the lower cost of living, employees moving with their companies, and an influx of people coming for increased opportunity and a thriving cultural scene.
In addition to Travis County, where Austin is located, the greater metropolitan area is experiencing the same effects. Neighboring communities, including Williamson County (Round Rock, Pflugerville, Cedar Park and Leander) and Hayes County (Buda and Kyle) are all ripe for growth, providing a variety of smart choices for active investors.
Along with the corporations that call the Capital City home, Austin also boasts excellent school districts and colleges. The University of Texas-Austin, a national top 50 university and in the top 10 for its business programs (including No. 1 for accounting), and the Dell Medical School attract professors and students alike. Additionally, Southwestern University in Georgetown is the oldest operating university in Texas, and St. Edwards University, a Catholic college in South Austin, boasts an endowment of more than $100 million. The K-12th Eanes Independent School District, located in the heart of Austin’s Westlake area, is ranked #1 in Texas and #2 nationally.
The number of people moving to the Austin area makes it an ideal market for investors. Many people who are moving to Austin look to rent as they become acclimated to the area, or wait until they are in a position to purchase a home. Our rental market increased by 19% since March of 2020 and is expected to increase up to 9% in 2022. Therefore, there’s always a strong demand for rental units.
Investment properties in the Austin metropolitan area provide opportunities for prime rents at an accessible price rate for prospective tenants. This goes for all forms of housing—from multi-family properties to single-family homes.
Though prices have boomed in Austin, it remains an affordable metro when compared to its contemporaries. Homes within city limits still go for less than $500,000 while prices become even lower as you move further out. The increased appreciation rates within the area also provide for excellent equity growth.
North Austin and into Williamson County are great for investors. Home to Dell, Apple and all the companies located at the Domain, these areas feature homes at reasonable prices while garnering prime rents!