Downtown Austin Living continues to be desirable, especially with newcomers. YNN Austin reports this is leading to a rise in rents, although it isn’t stopping people from moving to the 78701 zip code. Just two years ago, the average price for a one-bedroom apartment was about $1,000/month, but now it can cost anywhere from $1,500 to $2,000.
Realtors say that most people choose Downtown Austin for all the restaurants, shopping and nightlife it has to offer, as well as the ability to get to where the action is without needing a car.
Austin has set a goal to get more people living downtown. In 2006, then mayor Will Wynn said his goal was for 25,000 people to live downtown by 2015. Approximately 6,000 people lived in the area at the time. That number has jumped to about 10,000 now. One of officials’ reasons for wanting more downtown residents is that it keeps down crime, not to mention traffic as people eliminate commutes from the suburbs and live where they work and play.