Seven years ago when we were looking to move out of California, Austin constantly showed up on “best of” lists. Top city to start over, best city to buy a home, best city to raise a family to name just a few. When we arrived, you could tell Austin was booming. We saw home prices going up and thought we may have missed the boat. Now looking back, that was only the beginning of a boom that has grown exponentially and shows no sign of slowing down.
America’s Next Boom Town by Forbes
Forbes Magazine, well known for their rankings of American cities, recently came out with their list of America’s Next Boom Town’s. You can read the full article here.
Austin Named America’s Next Boom Town
Not surprisingly for those who have seen all the cranes Downtown and the new homes being built, Austin was named America’s next boom town. Leading the pack in population growth, Austin saw a 13.2% increase between 2010 and 2014. Austinites are also highly educated. 43.7% of the 25-44 year old workforce have at least a bachelor’s degree, up from the national average of 33.6%.
Texas Had 4 Metros in the Top 10
All four major Texas metropolitan areas (Austin, San Antonio, Houston and Dallas) were all in the Top 10. Why? Double digit job and income growth since 2010 and a tremendous influx of educated Millennials with young children. Combine that with low unemployment and a rising population of young families and it is not surprising why Texas is the state to beat.
What Factors Were Considered?
The study looked at seven metrics in cities with 1 million or more people and weighted them equally. They are:
- Percentage of children in the population
- Birth rate
- Net domestic migration
- Percentage of the population aged 25-44 with a bachelor’s degree
- Income growth
- Unemployment rate
- Population growth
Considering Relocating to Austin?
Though Austin has grown tremendously in the past several years, projections are it will continue to grow for years to come. Austin is going to truly be a world class city once all of the planned improvements are complete. And, housing prices are still affordable when you compare them to other booming tech areas. If you’re considering a move to Austin, our team of relocation specialists know the Austin area well and can help you find the best neighborhood for you and your family. Check out our Guide to Relocating to Austin for more info about Austin and our team. Then, email us at info@11OaksRealty.com or call us at (512) 827-8323 to schedule a time to discuss what you’re looking for and how we can help.