Are you considering buying real estate investment properties in Austin, Texas?
Austin is one of the best real estate markets in the U.S. and has experiences incredible growth in recent years. This city, often called the Heart of Texas, has affordable living costs compared to many major cities across the country and this is an important factor in why Austin is so populous.
Regardless if you are looking to invest in real estate or you want to live in a new city, Austin could be the best match for your living needs. There are plenty of real estate opportunities and the city is rich in different activities and entertainment options.
In the following sections, we are going over the main reasons why you buying real estate properties in Austin is a solid plan. You’ll learn about the economic climate, home values, and what makes Austin, Texas such an attractive place to live in 2020 and how that offers promising real estate investments.
Austin Has a Growing Population
As an investor, one of the top reasons you should buy an Austin real estate property is the city’s growing population.
As the population grows, it’s evident that the city of Austin has significant opportunities. Real estate investing relies on this fact as the real estate industry thrives in these conditions.
It’s one of the fastest-growing cities in the U.S. because the job sector is healthy, effectively creating new employment choices on a continuous basis.
That said, the favorable job market conditions aren’t the only reason people are moving to Austin. Lifestyle is another strong contributing factor. The new residents of this city enjoy that it’s a Green City with numerous outdoor recreation options available to anyone living there. Anyone in the state of Texas knows the value of greenery.
Austin’s Economy is Thriving
As already established, the job sector in Austin is solid, which is much needed in real estate investing.
Austin is a hub for large companies that need various types of employees and can offer competitive salaries. Young professionals flock to Downtown Austin for this reason.
The tech industry has made a strong entrance to Austin’s business scene. In fact, there is an area on the west side of Greater Austin that is called Silicon Hills. This nickname is derived from a high-density cluster of tech industry giants in the area.
In Austin, you can find tech company offices from key players like Apple, Amazon, Facebook, Google, IBM, PayPal, eBay, Cisco, and Intel. Even the University of Texas is located here. All of these major companies contribute to a healthier economy and a thriving market for jobs. The real estate market in Austin directly benefits from this.
Austin Offers Many Activities
The Heart of Texas is one of the best places to live because there are so many things to do and see in the city and its immediate surroundings. Just take a look at some of the things you can enjoy in Austin:
- Zilker Metropolitan Park: This is an urban park that covers a whopping 351 acres. Besides operating as a beautiful green space, Zilker has some of the best attractions in Austin. You can visit Zilker Botanical Garden, take a dip in Barton Springs Pool, and enjoy top artistic creations at the UMLAUF Sculpture Garden and Museum.
- SoCo District: The hip neighborhood has derived its name from South Congress. This area is most known for being a mainstay of the Keep Austin Weird cultural community movement that has captured the hearts of many locals and out-of-state visitors alike.
- Shopping opportunities: In the SoCo district, you can find a lot of shopping, but these are not your average retailers. Instead, you get apparel and accessories that will help you stand out from the crowd. In addition to shopping, you can visit the amazing cafes and restaurants in the area for a quick snack or a nice dinner.
Austin Has a Stellar Public Park System
Another reason to consider investing in Austin rental properties is due to the city’s public parks. The Austin real estate market also benefits from living conditions, green spaces being a great perk.
Austin Parks Foundation makes sure that all the city’s residents have access to properly maintained public parks, trails, and green spaces. These are some of their signature projects:
- Colony Park District Park: Here, you can find multi-use trails, two sports fields, plenty of benches, drinking fountains, an all-inclusive children’s playground, and even a fitness plaza. This park is in Northeast Austin.
- Pan Am Park: Located at 2100 East 3rd Street, this park was successfully renovated in 2019. As a result, the entire playground was rehabilitated, providing connections to the school and recreation center.
- North Oaks Neighborhood Park: At this free park, there’s a complete playground renovation with new play equipment and elements that take children’s experience in the park to a whole new level.
All of these examples show how quickly public space is developing in Austin. The grassroots initiatives along with decent funding can make a big difference in the residents’ lives. As these and other similar projects continue taking off, Austin is turning into a more attractive real estate destination with every passing year.
Home Values Are on the Rise
Increasing values in housing make Austin an inviting place for real estate investors. Since the home prices haven’t reached peak heights yet, the entire rental market situation still holds strong advantages when compared to similar U.S. cities. As a Texas real estate investor in the Austin area, it’s important to take note of this.
The housing market values are definitely going to increase with every passing year for a long time. As a rental property investor, you are better off making the investment decision sooner rather than later. The affordable conditions in the Austin real estate market may not last too long as the city is undergoing changes in its housing.
In a Nutshell: Buying Real Estate Investment Property in Austin, TX
The market offers a potentially lucrative plan for Austin real estate investors in a Texas city. Regardless if you are planning to buy your first rental property, or you are already a seasoned property owner, Austin has plenty of strong selling points, tipping this city in favor over other areas.
With the housing demand, real estate investors in Austin are likely making the right decision.
Here are some of the reasons real estate investors should consider investing in Austin:
- Austin TX has a thriving economy and a strong job market, including positions in top tech companies.
- The city offers a multitude of entertainment, dining, and outdoor recreation opportunities for residents and visitors alike.
- The home values are on the rise but have definitely not reached the peak, providing a nice potential return on your Austin investment, for single-family or multi-family homes.
Now that you have the facts, you may decide if investing in this area is the right choice for you!
For further inquiries or extra help buying Austin rental properties, single-family or multi-family, feel free to contact Bigham & Associates, LLC. We can also provide real estate investors in the Austin region with many other property management services such as a real estate agent, tenant screening, financial reporting, rent collection, responding to tenant requests and much more. Whatever your needs, contact us today.