Austin has been honored on yet another national list this week, having been named the #1 city on Forbes' latest list of "Best Bargain Cities".
I took a close look at the data they used in calculating the top rankings. As always, they analyzed the 50 largest U.S. metro statistical areas for the study. Here are the primary data points used:
- Average salary for workers with a bachelor's degree or higher (from PayScale.com)
- Annual unemployment statistics (Bureau of Labor Statistics)
- Cost of living (Moody's Economy.com)
- Housing Opportunity Index (from NAHB & Wells Fargo) - measures affordability at median income
Not surprisingly, Austin earned high marks across the board.
The article cites the fact that Austin has three big marks in its favor:
- University town
- State capital
- Technology center
With those factors alone, Austin maintains a very healthy economy, bucking the national trend. As I have often mentioned to my clients, there was never a real estate bubble here to pop in the first place, because prices increased at moderate levels during the biggest growth years. Part of this stems from the fact that there is still ample land for development in almost every direction outside the city.
Austin ranked #3 for the cost of living index provided in the article, and we also boast the very lowest unemployment rate among the cities included in the study. Rounding out the top five "best bargains" were Phoenix, Washington DC, Fort Worth, and Cincinnati/Indianapolis (tied for fifth).
Since 1997, I have specialized in helping home buyers who are relocating to the general Austin area. If you are looking to make a move in our direction, or if you need more information, please feel free to contact me anytime. I would love the chance to help. I can be reached anytime at 512-796-7653 (cell) or by email at jason@austintexashomes.com.
I have also gathered some previous posts of mine which you may find helpful as you are making decisions:
Austin Texas Relocation Package
My primary Austin real estate website is www.austintexashomes.com. Thanks for checking out this post - I hope to hear from you soon!
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If you're looking for a home in the Austin area, you can also visit my primary Austin real estate website at www.austintexashomes.com. If you're interested in social media training, visit 210 Consulting. Thanks!
Great blog for your mkt Jason.. Texas is great in general! It's good to be a Texas Realtor!
Jason,
You are so lucky! Good weather, good economy, and those bargains... Congrats!
Jason
That is something we needed to hear not only for Austin but central Texas. Hope you have a prosperous summer!
Jason,
I love the photo.
Bill
Okay Jason...two amazing Austin rankings in one night!?! Great for you!! (and Austin)...I do love that town :-) Hook em Horns!!
Jason man how many darn awards does your area get:)? It seems every time I visit they are winning something! Must be great for business.
Jason,
One thing that really stands out is the low unemployment over there. That's a big one for Austin and obviously coupled with affordable housing the real estate market ought to be solid.
Austin is spectacular Jason, but the folks who don't like heavy traffic and busy freeways should come to Kerrville. It's like a little Austin. I was up that way this week and enjoyed it but glad to be home.
I noticed that the other day. Dallas was listed #5. Seems that Austin continues to beat out Dallas in those categories.
Jason--a few years ago mu husband, Dave, and I toured Austin and fell in love with your city. The capitol building and the Bullock Museum (I think I remember the name correctly) were two of my favorites, but I most remember the friendliness of the people throughout the city. Enjoy. We hope to get back to Austin in the future.
Auttin, Nice post about Austin. I have never been to Texas, but my better half was born a Texan...Have a great day!
My Mother-in-Law has a buidable lot in Lakeway at Lake Travis. She is living here in Annapolis near us. She frequently gets offers to sell the property but she isn't sure if she wants to move there since her kids and grandkids are here. I love the community though and maybe we will all build something there together. Austin and vicinity is very, very nice.
Texas is a great place to be, no matter where you settle. Good for you for being part of a dynamic community!
Jason,
I read this also this morning....GOTTA LOVE IT!
Jason,
Good post! I have a friend that lives near Austin (Bastrop?). Old Dover Air Force Base Neighbor. You're making me want to move to Austin . . . but I don't think I can talk my husband into it. :o)
I love Austin Texas, always have... great place to live... we always thought about moving there ...music capitol of the world well good music anyway
A feather in the City of Austin's cap and great fodder for your blog.
Jason,
You're blessed to live where you do! Great localism post!
Mike in Tucson
We recently spent 5 days in Austin at Keller Williams training. We loved Austin - great food at reasonable prices, clean, & friendly. We were amazed to be able to just walk into the capitol building at 9:00 p.m. - just turned the door knob and walked in. There were several groups of people just wandering around, no security guard, nothing. That would never happen in Atlanta! We can't wait to go back.
I've got a lot of colleagues enjoying the delights of Austin all this week at Mega Camp. Wish I was there!
That's not too big a surprise - Austin is a great city and in just about the prettiest part of Texas.
Mike
Dear Jason,
This is always good news! We seem to make it into the top ten of every desirable list there is these days!
;)
Betina
Jason,
Congratulations to your fair city! Great post for localism content! Now that Forbes has given Austin that honor...who knows how fast business will explode?? All the best to you!!
Jason,
In Charlotte relocation, I frequently hear, "Austin, Austin, Austin" kind of like, "Marsha, Marsha, Marsha". It's great that your city is getting the right kind of buzz!
I was in Austin exactly a year ago watching the Phillies clinch a World Series title(vs. Tampa) in a downton bar with apparently 40-60 Philadelphia area transplants !!! My best friend since jr. high lives there and the area tour he gave me was impressive !!!
Austin is a great city, my sister lives there. I have often thought about moving there, you never know what the future brings...
I love the photo, what a beautiful lights and lake battery.
I keep hearing great things about Austin. I always like to hear more. Thank you for your post.