The city of Austin has come a long way since its days as a buffalo-hunting ground for the Tonkawa and other Indian tribes. The 4,224 square miles now hold more than 1.5 million people. The city has one of the fastest growing populations in the country and the fastest growing income in the state. Neither shows signs of slowing, as more than 8,000 new inhabitants are anticipated every year with 2,000 fewer leaving. But with all these people, where are they living?
Many are in apartments, but more still are in houses, the average price of which are 184,200 dollars - slightly higher than in Texas as a whole but lower than throughout the United States. Most families easily afford the cost, as they are making at least $45,314 and on average $69,300. Incomes for first-time homebuyers are naturally a little less.
While the value of homes are not as high as they were in 2001, when real estate peaked, they are much better than they used to be. Compared to 2003, 2007 prices were extraordinary. Declines are slight, and it’s likely Austin could soon come full circle, back to the booming value of the early boom. If value rises, so does sale pricing; therefore, expect a continuing increase throughout the area.
If you’re concerned not about how much you will get for your home, but how much you will have to pay and if you can, don’t be. Employment is on the rise as well. The University of Texas - Austin is one of the fastest growing schools in the country. With companies such as Dell, Seton Health Care, IBM and AT&T offering jobs, you know that with the right skills, you can get the right position. There is no shortage of employment opportunities.
Austin is a city of possibility. The statistics show it - now all you have to do is prove it.
Just a little post about Austin as I find that overviews are often helpful.
Joe
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