A recent article in the Austin American Statesman stated that QuestionPro, a market and research company announced that it is relocating its global headquarters to Austin from the Bay Area. Eighteen employees will be making the move and by the end of 2020 they expect to have a workforce of 60 employees here. This isn’t a large company but their move is reflective of why there is a trend to relocate here or expand services here, much like Amazon and Apple have done recently. The reason for the QuestionPro relocation is summed up by its CEO who started the company in Seattle and then moved it to the Bay Area. The CEO stated that the Austin cost of living makes it easier to “scale up and hire talent”. Austin’s talent pool and the ability to hire talent outside of Texas here were also factors for the relocation.
And there you have it: folks are moving here as part of relocations and to take jobs. This coupled with the fact that a lot of these new Austin area residents are millennials who have a penchant for renting vs. buying are just more reasons that it makes good investment sense to own Austin area residential real estate.