Whether it's the job growth, particularly in the tech sector, or the relatively affordable real estate market, Austin has seen a big increase in new residents recently. In fact, Austin's 19,117 new residents between 2014 and 2015 is the eighth largest increase in population of all U.S. cities with a population of more than 50,000, according to the Austin Business Journal.
The new residents are coming from a variety of places, although in recent years it seems more and more are migrating from California. Recent U.S. Census data shows these residents are, for the most part, settling in areas five different areas ranging from Austin's city center to 30 miles outside the city.
1. Downtown Austin
The city center of Austin always seems to be booming with an abundance of newcomers. Specifically, the area near the University of Texas has a tremendously high rate of new residents (more than half didn't live in Austin last year). While this is most likely due to the large number of students moving into the area, it also could be attributed to the number of jobs opening up. A recent study by the Kauffman Foundation found that Austin is the top city in the entire country for startup business activity.
2. San Marcos
Census numbers show San Marcos as one of the fastest growing communities in the entire country since 2012. Located about 30 miles south of downtown Austin, the community is home to Texas State University, which has set enrollment records in each of the past 19 years. This may explain part of the reason more people are moving to San Marcos, but it's certainly not the only lure for out-of-towners.
San Marcos is also situated alongside the Blanco River and the San Marcos River, with great parks and hiking trails nearby. The rivers also attract tourists for activities such as tubing, canoeing, fishing, and swimming. It seems some of these visitors have now decided to park their canoes and hang their fishing roads in the area permanently.
Just under 20 miles north of Austin, Round Rock is home to a number of major employers, most notably the international headquarters of computer giant Dell. A number of major retailers including, but not limited to, IKEA and a 430,000-square-foot premium outlet mall have also helped turn Round Rock into a much more appealing suburb. In fact, Census numbers show that a large number of Round Rock's new residents live right near the outlet mall.
4. Cedar Park
Cedar Park is Round Rock's closest neighbor to the west and has seen similar growth to Round Rock in terms of new residents moving into the area in the last year. Also a major suburb of Austin, Cedar Park is home to a pair of high-level minor league professional sports teams. The Austin Spurs are the NBA Developmental League affiliate of the NBA's San Antonio Spurs, while the Texas Stars are the American Hockey League affiliate of the NHL's Dallas Stars. Both teams play home games at the H-E-B Center at Cedar Park, an 8,700-seat indoor sports and entertainment arena in Cedar Park that opened in 2009.
The housing market in Cedar Park consists mainly of single-family homes, with some townhomes also available. The majority of these homes have been built in the last decade, which adds vibrancy to the community.
5. The Domain
Many refer to The Domain as Austin's second downtown, as it offers the best of city living in a combination of commercial and residential properties. This neighborhood is home to The Domain shopping centre and mixed-use development, which includes several major department stores and over 70 specialty stores to compliment the residential housing in the area. In the heart of the development are 390 loft-style apartments.
With so much to offer, it shouldn't come as a surprise that the Census block group surrounding The Domain has seen 952 households moved into since 2010, which is more than 80 percent of its total households.
If you're dying to learn more about any of the great Austin neighborhoods mentioned above, contact JB Goodwin REALTORS® today to get in touch with one of our trusted Austin real estate experts!