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Austin is the 7th Best Housing Market for Millennials.

Business Insider reports on Trulia’s list of best housing markets for millennials. Discover why Austin is such a great place for young people.

Job Growth

Austin’s job growth was 2.3%, largely in the private sector. State and Federal payrolls shrank, as did retail jobs. However, most employers were hiring at a robust pace. Austin has seen growth in factory employment, technology, and healthcare.

 

“The share of income needed to buy a home in Austin was 47.5%”

 

Housing Market

Austin’s housing market is strong. Trulia looked at a few key metrics related to the housing market. Those included vacancy rates (low vacancy rates mean that housing supply doesn’t exceed demand) and start-home affordability. They also examined the proportion of inbound Trulia searches versus outbound searches. If inbound searches exceed outbound ones, that means people are moving to a city, rather than looking to get out. Trulia found that the share of income needed to buy a home in Austin was 47.5%.

Percentage of People Younger than 35

Trulia looked at how many residents were less than 35. The homeownership rate is up amongst young households, so a large share of the adult population that age equals a growing home buying population. 26.3% of Austin’s population is under 35.

More reasons to move to Austin:

 

 

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