Austin has been named one of the ten hottest housing markets in the country.
Culturemap Austin reports that Austin has the sixth hottest housing market in the US.
Zillow ranked US cities on several metrics to come up with a “hotness” score. These included:
- home value and rent forecasts
- income and population growth
- current unemployment rates
- the number of job openings per person from Glassdoor
Zillow says Austin’s home value forecast is 3.3 percent. The typical household income is $71,000. However, our cost of living is lower, so your money goes farther in the 6th hottest housing market in the country.
Austin’s most impressive metric is our job growth. 47,430 jobs are forecast to be available in 2019. We also have one of the lowest unemployment rates, even though our population is growing quickly. All that means we aren’t likely to lose our place as one of the hottest housing markets in the country anytime soon.
Austin’s hotness score put us in the 6th spot.
What neighborhoods are projected to see the most growth in house values?
Pecan Springs Springdale
This area is in east Austin between 183 and Manor Road, north of 51st Street. It is forecast to see a 7.4 percent increase in home values. This mostly residential area is just five minutes from Mueller, but a lot more affordable.
This neighborhood is expected to increase in value by 6.1 percent. MLK is also in east Austin. It’s between Airport and Springdale, south of Anchor Lane.
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Another eastside entry, Montopolis is north of Ben White, south of the Colorado River, and east of Montopolis/Grove. Home values are projected to increase 5.7 percent there.
The final fastest growing neighborhoods in the 6th hottest housing market? Those are West Congress and Coronado Hills. Housing costs there are expected to go up 5.2 and 4.7 percent respectively.
More Austin hotness: