As reported in the “Daily Real Estate News” the Gallup Index cites both Austin and Salt Lake City as leading the country in 2014 in leading all cites in job creation. No one can argue that Salt Lake is a fine city with beautiful mountains and near great ski areas, and ski areas are a plus and a minus because where there are ski areas there is snow. Enough said about that so Austin is number one!
The reasons cited by Gallup is the technology sector bringing in lots of talented folks to take jobs that have been created because of the increase in technology firms in both cities. Also cited in the report is that salaries are more competitive in these cities and the cost of living is lower than average than other tech-hubs. The report also stated that these jobs in turn create additional jobs such as construction to meet housing demand. In turn all of these jobs create service related jobs to cater to the needs of all. And this is where we investors in residential rentals come into play. All of these folks, many of which are young marrieds, need a nice place to live and to start a family. It is a great time to be an Austin area owner of residential real estate.