As reported in the Austin American Statesman last week Austin sidestepped the fall in oil prices and the state has shaken off any dust from that fall. In May the Austin area added 6,800 jobs (or about the size of a small city). The May unemployment rate, according to the Texas Workforce Commission was 3.1% up from 3% from May of 2014 but the agency does not immediately adjust for seasonal factors such as students now entering the job market. The Austin area has a job rate growth so far this year of 4.4% up from 3.8% last year. This indicates that our area should really see super accelerated job growth. The Texas Workforce Commission stated that Central Texas has added 32,000 jobs so far this year…now that’s impressive!
So what does this mean for us investors in Austin area residential rentals? It means that we are holding the right cards to make money.