Austin Real Estate Market Overview
Average Monthly Rent:
$1,690
Percentage Change in Home Price/Value:
22.7%
Median Home Value:
$595,000
Best Time To Sell Home:
December
Affordability Index:
103
Days To Sell House:
48
Job Market:
Fair
Public School Ranking:
28
Location and Weather
Austin is an inland city found in central Texas, along the banks of the Colorado River. It is the capital of the state and is best known for its eccentric downtown, lively music scene, and a beautiful landscape perfect for outdoor recreation. Despite its large size, Austin maintains a cultural, small-town feel that continues to attract tourists and potential new residents.
Austin’s weather is primarily warm and sunny, with winter temperatures in the 30s. There isn’t much snow here, but there is an average of 35 inches of rain per year.
Population, Job Market and Cost of Living
Austin has a population of 1,028,225, with a growth rate of 1.62% annually. The job market has increased by 3.5% over the last year. In ten years, job growth is predicted to be 47.0%. In 2020, Austin was named America’s Best Job Market by the Wall Street Journal due to its progressive economy and increasingly diverse job market. Some of the largest industries are in construction, national resources and mining, transportation, and information research.
Austin is a fairly expensive city to live in when compared to the Texas or U.S. average cost of living, but the high income for residents here balances out its higher expenses.