Austin is the 7th Best Housing Market for Millennials.
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%”
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: