Austin Investment Property for Sale - 2023 Rental Home Appreciation
Austin is a vibrant city located in the heart of Texas. Known as The Live Music Capital of the World, Austin's unique culture paired with beautiful weather year-round proves to be a winning combination for residents and visitors alike.
Consistently ranking as one of the top cities to live in the country, new residents and businesses have been flocking to Austin for years, and that shows no signs of slowing down anytime soon.
Thanks to several high-tech corporations operating in the Austin area, the job market is thriving, contributing to consistent population growth expected to continue over the next 15 years.
Austin's Attractive Housing Market
The Austin real estate market is flourishing due in part to the below-average cost of living and the top-rated public school district. While the home prices are above the national average, they're still significantly less expensive than cities on the coasts, like New York and Los Angeles, making Austin an attractive location for young professionals, growing families, and real estate investors.
A few of Austin's most sought-after areas include:
- Cedar Park: A safe, family-friendly area near downtown Austin, with easy access to Lake Travis.
- Round Rock: Nationally recognized as one of the country's most livable towns, the area is known for its outdoor activities and historic sites.
- Georgetown: This delightful suburb and home to 'The Most Beautiful Town Square in Texas' offers historical architecture, great restaurants and bars, shopping, and events.
- Leander: A bustling suburb, 30 minutes from Austin, Leander is a perfect location for families, offering easy access to several state parks and wildlife areas.
- Lake Travis: The reservoir on the Colorado River is a hot spot for outdoor enthusiasts. Besides countless water recreation activities, the area has lodging, events, and restaurants.
Rental Home Appreciation in Austin
Zillow forecasts that the sale price of Austin homes will continue to rise, creating a rental market boom for the foreseeable future. Rather than becoming home buyers, residents choose rental properties such as duplexes, apartments, and single-family homes. Based on key metrics such as quality of life, cost of living, and job availability, Austin ranks at the top as one of the best cities for renters.
Austin investment property has seen lasting success due to high occupancy rates and competitive rent prices.
Economic Growth in Austin
Austin is quickly becoming a tech giant. Known as Silicon Hills, the Austin area is home to corporations such as Apple, Amazon, PayPal, Facebook, Google, Tesla, and many more.
Experts rank Austin as one of the top-performing job markets in the country. The growing tech industry attracts coastal transplants with job opportunities, a substantially lower cost of living, and a more laid-back, friendly atmosphere.
Austin is a perfect location for young professionals just starting their careers and growing families who want to take advantage of everything Austin has to offer.
Want to learn more about Austin, Texas?
Join the Arrived list to find out more about investing in Austin.