Austin Ranks Among Top 20 Housing Markets to Invest in
With its booming economy and strong employment growth, Austin ranks number 7 on Forbes’ list of best places to invest in real estate. The greater part of these ‘Best Buy Cities’ are still considered undervalued, and Austin is among them.
Texas Metros Doing Well
Texas has the second-highest number of cities among the rankings, with San Antonio and Dallas joining Austin in the Top 10 best places to invest in real estate. These three cities are thriving due to their diversified economies and even during a time when the rest of the country was experiencing a recession, the Texas economy saw a much more subtle impact. Texas is still seeing rapid population growth, and Austin, in particular, has a projected three-year growth rate of 9%, which is higher than both San Antonio (6.1%) and Dallas (6.2%). Austin also has strong year-over-year job growth at 3.3% and continues to see expansion in the tech industry, welcoming many new companies, and their employees, to the city.
Why Austin is a Great Place for Real Estate Investment
Each of the ranking cities among the best places to invest in real estate not only has a strong job and population growth, but also a foreseeable home price appreciation. Although housing prices are rising in Austin, they are relatively cheap when looking at the nation as a whole and are expected to continue rising. The three-year home price growth projection for Austin is 27%, making it a worthwhile place to invest in the housing market.
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