Austin's 2016 population is estimated at 931,830, but its 5-county metropolitan area has an estimated population of over 2 million. Austin has a population density of 3,358.32 people per square mile (1,296.65/square kilometer), so there is definitely room to grow.
Austin is one of the fastest-growing cities in the country now, with a population growth rate of almost 3%.Which is to say, no other major city even came close to Austin's pace of expansion, much as has been the case ever since the recession ended.
Pulled this off the census website this morning. This is the latest data. The next year (July 2015 to July 2016) is supposed to come out in December but it hasn't been released yet. This chart is the growth rate of the 50 largest metros from July 2014 to July 2015. I'd show more than the 50 largest metros but the graph gets sloppy.
Real Estate Agent · Austin, TX · Member since 2016 · 18 posts · 11 votes
9y
@Account Closed Thanks for the abrupt feedback but I wasn't pitching anything in that post. I have been personally asked many times since coming into this market what the hard numbers are, and just wanted to share incase there were other curious first time or even seasoned investors.
I thought it would be relevant to provide that Austin's growth rate exceeds any other major city, and can provide links and sources to support it.
Thanks for the post! As someone who helps Austin investors, it's always nice to see some relevant statistics because it gives people the numbers to make informed decisions.
@Account Closed I think it's a helpful post for people looking for reliable numbers, they're much more reliable than opinions! The article you linked to also shows Austin as the third fastest growing MMA in Texas, the two edging it out are Odessa and Midland, some of the smallest MMAs in Texas.
With all of that being said, I believe that Austin is the best city in Texas. That's just my opinion, but we've also seen an influx of big tech companies, a hot-bed for start-ups, and a rapidly growing educated and culturally diverse population. I think the numbers show that people want to live here because it's an incredible city.
Austin, TX · Member since 2015 · 40 posts · 33 votes
9y
Just to clarify here, some people in this thread are pointing to total growth, while others are pointing to the growth rate. I have a haunch that the growth rate number in the original post is a better indicator of where real estate prices might be headed. For instance, if you had a hypothetical city with a billion people in it and it grew by a million people in one year nobody would even notice. Although if Austin grew by a million people in a year I think FEMA would have to step in.
That being said, the growth rate number cited by Lisa is super stale. Its from July 1st 2013 to July 1st 2014. That period is 2.5 to 3.5 years ago. Definitely not a number for an investor to look at. I periodically dig up the population estimates off of census.gov Maybe I'll take a look tomorrow.
Pulled this off the census website this morning. This is the latest data. The next year (July 2015 to July 2016) is supposed to come out in December but it hasn't been released yet. This chart is the growth rate of the 50 largest metros from July 2014 to July 2015. I'd show more than the 50 largest metros but the graph gets sloppy.