"Austin’s status as a technology hub along with its high concentration of venture capital, warm climate and vibrant cultural offerings lead to frequent comparisons with the Bay Area – and in fact, high-profile Silicon Valley companies, including Amazon, Google, Oracle and Tesla, have recently expanded their operations in Austin," the report reads in part.
Articles below detail the economic growth of major metroplexes in the US and Austin comes in at number 2 on the list. The ABJ link outlines an interesting population to economic growth and highlighting that Austin is producing more economic growth per population than many other cities on the list. Interesting reads and great data on many MSAs to keep in mind.
Great post! Its interesting to see in the research report that the median house prices have increased from 349,156$ to 566,479$ from August 2020 to August 2022 and the rents have increased 10% annually for the last 2 years. Another takeaway is that even though Austin metro is the 2nd fastest growing GDP at 4.3% its only .9% of the US GDP and a population rank of 33. It seems that we are very much in growth mode and will likely be in growth mode for years to come.
The unemployment/employment numbers are about to come out and it will be interesting to see it. I expect that the Austin metro will be tops in Texas again.
@Bryan Noth so what you are saying is, I can buy property in a Top 2 fastest growing city in America AND now purchase them 15-20% off? Time to get shopping!