Austin Named "America's Best Bargain City" by Forbes.com

By
Real Estate Broker/Owner with Austin Texas Homes, LLC 453249

Austin has been honored on yet another national list this week, having been named the #1 city on Forbes' latest list of "Best Bargain Cities". 

I took a close look at the data they used in calculating the top rankings.  As always, they analyzed the 50 largest U.S. metro statistical areas for the study.  Here are the primary data points used:

  • Average salary for workers with a bachelor's degree or higher (from PayScale.com)
  • Annual unemployment statistics (Bureau of Labor Statistics)
  • Cost of living (Moody's Economy.com)
  • Housing Opportunity Index (from NAHB & Wells Fargo) - measures affordability at median income

Not surprisingly, Austin earned high marks across the board.

The article cites the fact that Austin has three big marks in its favor:

  • University town
  • State capital
  • Technology center

With those factors alone, Austin maintains a very healthy economy, bucking the national trend.  As I have often mentioned to my clients, there was never a real estate bubble here to pop in the first place, because prices increased at moderate levels during the biggest growth years.  Part of this stems from the fact that there is still ample land for development in almost every direction outside the city.

Austin ranked #3 for the cost of living index provided in the article, and we also boast the very lowest unemployment rate among the cities included in the study.  Rounding out the top five "best bargains" were Phoenix, Washington DC, Fort Worth, and Cincinnati/Indianapolis (tied for fifth).

Since 1997, I have specialized in helping home buyers who are relocating to the general Austin area.  If you are looking to make a move in our direction, or if you need more information, please feel free to contact me anytime.  I would love the chance to help.  I can be reached anytime at 512-796-7653 (cell) or by email at jason@austintexashomes.com.

I have also gathered some previous posts of mine which you may find helpful as you are making decisions:

Austin Texas Relocation Package

My primary Austin real estate website is www.austintexashomes.com. Thanks for checking out this post - I hope to hear from you soon!

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If you're looking for a home in the Austin area, you can also visit my primary website at www.austintexashomes.com.  Thanks!

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Rainmaker
400,678
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

I noticed that the other day. Dallas was listed #5.  Seems that Austin continues to beat out Dallas in those categories.

May 21, 2009 04:29 PM #9
Rainmaker
1,229,996
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Jason--a few years ago mu husband, Dave, and I toured Austin and fell in love with your city.  The capitol building and the Bullock Museum (I think I remember the name correctly) were two of my favorites, but I most remember the friendliness of the people throughout the city.  Enjoy.  We hope to get back to Austin in the future.

May 23, 2009 06:24 AM #10
Rainmaker
315,969
Monique Combs
Royal Shell Real Estate - Bonita Springs, FL
Royal Shell Real Estate - Monique Combs

Auttin, Nice post about Austin. I have never been to Texas, but my better half was born a Texan...Have a great day!

May 27, 2009 09:25 AM #11
Rainer
1,808
Richard Curtis
The Curtis Real Estate Company - Annapolis, MD

My Mother-in-Law has a buidable lot in Lakeway at Lake Travis.    She is living here in Annapolis near us.  She frequently gets offers to sell the property but she isn't sure if she wants to move there since her kids and grandkids are here.  I love the community though and maybe we will all build something there together.  Austin and vicinity is very, very nice.

May 28, 2009 12:24 AM #12
Rainer
187,265
Dana Wilkinson
Connect Realty, The Woodlands, TX - The Woodlands, TX
Broker-Your TX agent for The Woodlands-Spring-Conr

Texas is a great place to be, no matter where you settle.  Good for you for being part of a dynamic community!

May 29, 2009 07:04 AM #13
Rainmaker
191,726
Sheila Moran
RE/MAX Access (Garden Ridge, San Antonio, New Braunfels) - New Braunfels, TX
SanAntonioSheila.com, RE/MAX Access, 210-32

Jason,

 

I read this also this morning....GOTTA LOVE IT!

May 29, 2009 01:29 PM #14
Rainer
9,379
Bonnie Cox
Prudential Caruthurs - Bel Air, MD

Jason,

Good post!  I have a friend that lives near Austin (Bastrop?).  Old Dover Air Force Base Neighbor.  You're making me want to move to Austin . . . but I don't think I can talk my husband into it. :o)

Jun 13, 2009 07:08 AM #15
Rainmaker
662,636
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

I love Austin Texas, always have... great place to live... we always thought about moving there ...music capitol of the world well good music anyway

Jul 07, 2009 04:04 PM #16
Rainer
28,124
David L. Montgomery
MULAMONT REALTY, LLC - Pontiac, MI
David L. Montgomery

A feather in the City of Austin's cap and great fodder for your blog.

Jul 27, 2009 03:50 AM #17
Ambassador
754,619
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Jason,

You're blessed to live where you do!  Great localism post!

Mike in Tucson

Aug 08, 2009 04:11 PM #18
Rainmaker
145,736
Paul & Diane Boykin
Keller Williams Realty Greater Athens - Watkinsville, GA

We recently spent 5 days in Austin at Keller Williams training.  We loved Austin - great food at reasonable prices, clean, & friendly.  We were amazed to be able to just walk into the capitol building at 9:00 p.m. - just turned the door knob and walked in.  There were several groups of people just wandering around, no security guard, nothing.  That would never happen in Atlanta!  We can't wait to go back.

Aug 22, 2009 12:56 AM #19
Rainmaker
472,455
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

I've got a lot of colleagues enjoying the delights of Austin all this week at Mega Camp. Wish I was there!

Aug 25, 2009 02:53 AM #20
Rainer
145,329
Mike Hendren
Mike Hendren Photography - Cloudcroft, NM

That's not too big a surprise - Austin is a great city and in just about the prettiest part of Texas.

Mike

Sep 16, 2009 02:54 AM #21
Rainmaker
430,105
Betina Foreman
WJK Realty - Austin, TX
Realtor, C.N.E., with WJK REALTY

Dear Jason,

This is always good news! We seem to make it into the top ten of every desirable list there is these days!

;)

Betina

Oct 07, 2009 02:40 AM #22
Rainer
74,031
Sarah Eubanks
Hill Valley Financial Services - Oregon City, OR
Preferred Oregon Loan Consultant & Notary Public

Jason,

Congratulations to your fair city!  Great post for localism content!  Now that Forbes has given Austin that honor...who knows how fast business will explode??  All the best to you!!

Oct 15, 2009 06:54 AM #23
Rainer
204,707
Jane Cross
Homes By Cross serving Charlotte NC Real Estate Needs - Charlotte, NC

Jason,

In Charlotte relocation, I frequently hear, "Austin, Austin, Austin" kind of like, "Marsha, Marsha, Marsha". It's great that your city is getting the right kind of buzz!

Oct 27, 2009 01:30 AM #24
Rainmaker
1,876,425
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I was in Austin exactly a year ago watching the Phillies clinch a World Series title(vs. Tampa) in a downton bar with apparently 40-60 Philadelphia area transplants !!! My best friend since jr. high lives there and the area tour he gave me was impressive !!!

Oct 30, 2009 02:36 AM #25
Ambassador
544,670
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

Austin is a great city, my sister lives there. I have often thought about moving there, you never know what the future brings...

Nov 20, 2009 12:10 AM #26
Rainer
950
Smith Jack

I love the photo, what a beautiful lights and lake battery.

Dec 03, 2009 12:02 PM #27
Rainer
133,502
Kimberly A Norgard
Devlin McNiff Halstead Real Estate - East Hampton, NY

I keep hearing great things about Austin.  I always like to hear more.  Thank you for your post.

Dec 13, 2009 06:27 AM #28
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