Time and time again, Austin has been recognized for the rapid expansion of its tech industry and its booming population. Affectionately called the Silicon Hills, many even speculate that this Texas city is due to be the next Silicon Valley. In fact, a recent article in Forbes named Austin one of the five the most likely cities to take the coveted spot.
The need for a new Tech Mecca stems from the fact that the Silicon Valley real estate market has reached a saturation point. Built along the bustling San Francisco Bay where property is scarce, the average home in Los Altos, CA is valued at $2.3 million. By contrast, the median sale price on the Austin real estate market is a much more modest $216,000 because land is plentiful and new development is frequent.
Because of the affordable real estate rates, more and more tech companies are opting to headquarter themselves in this urban center. Thanks to the University of Texas, tech companies are even finding an educated work-force to tap into. It helps that this city boasts the extra perk of being a rare income tax-free city in the United States.
If you're looking for a job in the tech sector, there's a couple of popular areas you'll want to consider, and lucky for you, there's plenty of housing options to choose from nearby.
The heart and soul of this great city resides in the downtown core. In a halo around the historic State Capitol Building, you'll find all sorts of local software design companies such as ThoughtWorks Incorporated, a company with a global reach; Black Locus, a subsect of The Home Depot; InforcePRO, a software company specialized in serving life insurance; and Umbel Corporation which focuses on using data to better understand audiences.
The downtown Austin real estate market is rich in recently developed luxury condos, beautiful high-rises, and trendy apartment buildings. From cozy one-bedrooms to sprawling three- or four-bedrooms, this area has suites for those at any stage in life.
In northwest Austin in the 10 square mile region bounded by Highways 35, 183, and 1, and West Palmer Lane, you'll find some of the most famous tech companies located within the city. Off of Highway 1, Google's high-rise glass building extends up into the sky, and off of West Palmer, you'll find the Dell Computer Corporation.
In this area, you'll also find firms like Atomic Picnic that specialize in audiovisual design; SunPower Corporation, which has been redefining solar panels for three decades; and Silicon Hills Design, which manufactures circuit boards.
With plenty of workplaces to choose from, it's fortunate that there are just as many top-notch Austin neighborhoods to choose from as well.
Convenient Neighborhoods in Northwest Austin
A 303-acre property owned and managed by Simon Property Group, The Domain is a high-end residential and retail complex. Inside, these luxury apartments feature private balconies, granite counter tops, and spacious floorplans. With a state-of-the-art pool, four zen gardens, and a fully equipped fitness center, this facility gives its residents recreation options close to home, including the shopping complex. This major shopping locale features over 140 stores from Michael Kors to Tesla with everything in between.
Easy access to Highway 1 makes Allandale a favorite of commuters. This family-friendly neighborhood has a house for sale in every price range. From mid-century modern estates to quaint and affordable bungalows, no matter what your budget or the size of your family, you'll find a great space to call your own. Allandale is also home to the famous Alamo Drafthouse Cinema.
An established suburban neighborhood on the edge of town, Copperfield is the site of many family homes. With plenty of community greenspaces to choose from, this subdivision strikes a perfect balance between urban and rural. This delightful community is also a short distance from the neighboring city of Pflugerville which is well-known for its independent school system.
North Loop has a distinctly urban downtown vibe without the high-end price tag to match. Here you'll find a mixture of old and new homes that make up eclectic, but charming blocks. You'll find vintage stores, stellar restaurants, and quaint coffee houses throughout this district. House designs range from the traditional multi-level homes to the most unique custom designs.
So, if you're in the tech industry and you're considering making the move to this central Texas city, don't worry about the state of the housing market. With plenty of fine properties on the market, you won't have any trouble finding a home close to work that fits your budget, your tastes, and your needs.
Contact JBGoodwin REALTORS® for more information on homebuying in Austin. We've been providing top-notch service for over forty years, and we aren't about to stop any time soon.