Why Austin, TX is one of the hottest cities for Real Estate Investors
Austin remains a great place for real estate investing
Austin, Texas has been one of the hottest real estate areas in the nation for several years, and there is no sign of it slowing down anytime soon. This is why Austin is great for real estate investors, there is plenty of demand and conditions are right for it to continue for some time.
Austin has a lot going for it, such as being the state capitol and home of the University of Texas. Many cities could ride on that alone, but that is just the beginning of Austin, which has a lot of things people want in a city. The weather is great most of the time. The city has a burgeoning hi-tech industry developing, which attracts even more young people. Austin is known for its music and night life, and for lots of public events that often involve food and music. The Guadalupe River also runs through the city, creating tremendous recreational opportunities, making quality of life even better.
Just about any “best of” list that has anything to do with quality of life and places to live, has had Austin in the top five for the past 10 years. A recent Forbes article ranked Austin No. 1 in growth projection, No. 8 on median home prices, No. 5 on cost of living and No. 9 on gas prices.
The website Marketwatch also ranked Austin No 1. among its top 10 cities for growing businesses in the United States. The study noted that companies are moving to the Austin area, and they are hiring people when they do. This means even more demand for real estate, whether that be a house or an apartment.
The Milken Institute released its rankings recently, and Austin was No. 2 nationally as a “best performing city,” which measures things like quality of life, job growth and job sustainability. That was for 2014, and it was beaten out by San Francisco for No. 1. Austin was No. 1 the previous year, and has been in their top five for years. That is another measure of the strength of the real estate market. With more jobs there are more people looking for places to live, which is always good news for a real estate investor. The report said Austin was No. 1 nationally for job growth from 2008 to 2013.
Austin has grown fast for a few decades and it is still one of the fastest growing metropolitan areas on the nation. There are apparently always new people moving into Austin, an people in Austin are generally young, so they are mobile and move around as well. This means even more business for real estate companies.
It is also in Texas, which is known to be business friendly. The cost of living is lower than many cities as well. Economic policies are friendly to businesses such as real estate investors. The real estate business itself is booming in Austin, as there are more people entering the business. Because there is so much demand there appears to be plenty of room for more investors.