Multifamily Trends & Activity in Austin, TX
Texas has one of the lowest tax burdens in the nation, which has caused many to migrate to the state. In 2019, the Austin metropolitan area added 37,800 new jobs, a growth rate of 3.5 percent, according to the Austin Chamber of Commerce. This makes Austin the second fastest-growing major metro in the nation. As of the latest data released from the Bureau of Labor Statistics, Austin showed some of the fewest job losses of a country’s market over the past year. The market is driven by growth in the technology sector, which appears to be insulated from the pandemic-related economic shutdown. As a result, Austin may be able to weather this recession better than other metros.