According to a recent article in the Austin American Statesman the Austin metro area has topped the 2 million mark and is the fastest growing area in the USA. In fact our area has been the fastest growing spot with over 1 million in population for 5 straight years. Reportedly this area is the most diversified area in the state. Our employment base is balanced between governments (we are the state capitol of course) education, clean industries, and the service sector. Oil does not impact our area very much like it does Houston, Midland, and the Gulf Coast refining areas. According to one demographer the area’s growth is driven by the high quality of life here and by the healthy (robust) job market.
This is great news for us landlords who own residential rentals here. The quality of life brings the jobs, the jobs bring the people (and did I mention their cars), and the people need housing; that’s us. Area rents are strong and look to remain strong in the foreseeable future, and residential housing continues to appreciate. To quote Ralph Kramden from the Honeymooners: “How Sweet It Is!”
Rick Ebert/Austin, Texas/24 March 16
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