According to a recent article in the Austin American Statesman Austin added 21,200 jobs from October 2015 to October 2016. To me that figure represents a small city so it is pretty darn impressive. Shadowing this figure is the Austin metro area unemployment rate which is reported at 3.2%. To me this means that anyone who wants a job can have one. In October, 2015 the unemployment rate was a whopping 3.3% so obviously the Austin area is the envy of any city, anywhere, period. Drew Scheberly from the Texas Workforce Commission was quoted as saying that the average family income in the area is increasing as are the jobs responsible for that and he expects the trend to continue. Namely there is a demand for people to fill positions in the areas of medical and high tech, all of which have nice pay scales. Let’s not forget that Samsung recently committed to invest an additional $1 billon in its local chip manufacturing and plans to add 500 engineering jobs.
So for us investors in Austin area residential rentals the future looks sunny and bright. I’m glad to hold several residential rentals.
Rick Ebert / Austin, TX/ 21 Nov 16