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Austin Market Update
Current Market Conditions Relating to Austin Real Estate
While much of the country suffers from housing market woes, Austin remains a star in positive media coverage.
  
Top 10 Cities for the Next Decade - Kiplinger
Austin
ranked 1st
 
Top 10 Cities for College Graduates - Bloomberg Business Week
Austin ranked 3rd (Houston 1st, Dallas 2nd) 


Top 10 Budget Travel Destinations for 2009 - Budget travel.com
Austin ranked 1st out of 10

o America’s Greenest Cities - Popsci.com

Austin ranked 10th out of 50

o Highest Quality of Life - Portfolio.com/bizjournals

Austin ranked 9th out of 67

o Best Places for Small Business Startups - Money.com

Austin ranked 8th out of 50

o The Healthiest Housing Markets for 2009 - BuilderOnline.com

Austin ranked 2nd out of 15

o Top Fittest Cities in America - American College of Sport’s Med.

Austin ranked 10th out of 50


Best Places to Live 2009 USnews.com

1. Albuquerque, NM

2. Auburn, AL

3. Austin, TX

4. Boise, ID

5. Durham, NC

6. La Crosse, WI

7. Loveland, CO

8. San Luis Obispo, CA

9. St. Augustine, FL

10. Upper St. Clair, PA
 
 

10 Cities Where Americans are Relocating Forbes.com

1. Raleigh, NC

2. Austin, TX

3. Charlotte, NC

4. Phoenix, AZ

5. Dallas, TX

6. San Antonio, TX

7. Houston, TX

8. New Orleans, LA

9. Atlanta, GA

10. Denver, CO
 
 

Top 10 Cities for Jobs in 2009 Hotjobs.Yahoo.com

1. Austin, TX

2. Killeen-Ft.Hood, TX

3. Salt Lake City, UT

4. McAllen-Edinburg, TX

5. Houston, TX

6. Durham, NC

7. Olympia, WA

8. Huntsville, AL

9. Lafayette, LA

10. Raleigh, NC
 

10 Best Cities for the Next Decade Kiplinger.com

1. Austin, TX

2. Seattle, WA

3. Washington D.C.

4. Boulder, CO

5. Salt Lake City, UT

6. Rochester, MN

7. Des Moines, IA

8. Burlington, VT

9. West Hartford, CT

10. Topeka, KS
 

History of Austin

In the 1830s, the first permanent Anglo settlers arrived to this bend in the Colorado River & called their village Waterloo. In 1839, Waterloo became the capital of the Republic of Texas and a new city was born. Waterloo was soon re-named Austin in honor of Stephen F. Austin, the “father of Texas.” The town’s plan was focused around a hilltop site for the capitol building which would overlook Congress Avenue. Pecan Street (6th St.) and Congress Avenue have remained Austin’s main business streets ever since. In 1888, the capitol building, advertised as the “7th largest building in the world” was built. It remains as the center of one of Austin’s most prominent industries - government.
When Austin emerged from The Depression, the pathway for the high-tech future of Austin was already being made. By the 1950s, several research labs and think tanks had been founded, drawing innovative thinkers and high-tech companies to the area, a trend that continues to this day. Austin’s musical rebirth began in the 1970s, when artists such as David Rodriguez and Willie Nelson drew national attention—and more musicians—to the city. Now, on any given night, scores of artists can be heard playing countless musical styles in the city’s nightclubs and concert halls. Today, Austin is known as much for its cultural life and high-tech innovations as it is for the senators and schoolteachers who shaped its beginnings. The same success that has gained the city a national reputation has brought with it many difficult choices, as the city expands on a scale that might shock the early residents of Waterloo. - courtesy of Austin History Center

Austin's Growth Rate

Population as of 2009: 1,705,075

The Austin metropolitan area is the 36th largest region nationally. The 1900’s saw a 48% increase in population & growth has been averaging 3% annually since the 2000 census.

The Wonderful Austin Weather

Austin has a temperate climate with 300 days of sunshine annually - giving way to many great days on Lake Travis. Average temperatures in the winter are 42 to 62 degrees and 75 to 95 degrees in the summer. Snowfall is rare, but Austin can have some nice thunderstorms pop up during the spring and summer months.

Cost of Living

Austin is well known for offering affordable living compared to other major business centers. The National Association of Realtors reported that the median home price in Austin was $187,400 in 2009 while the national median was $173,200. Texas features no personal or corporate income tax, and overall the state has one of the lowest state & local tax burdens in the nation, ranking 47th among the 50 states in taxes paid per $1,000 of personal income.

Education

Austin is home to one of the largest universities - The University of Texas. UT, though, is not the only school in Austin - just the largest. Austin area households enjoy diverse options in education, including 29 public school districts, 17 charter schools, & 69 private schools. UT, along with seven other public & private universities have a combined enrollment of over 118,000, providing an ample supply of well-educated workers to area employers. Within 200 miles of Austin, an additional 67 4-year colleges and universities enroll over 360,000 students.
Nearly 40% of Austin area residents age 25 & over hold a bachelor’s degree. 15 regional schools made Newsweek’s “Top of the Class” list in June 2007. The schools were ranked according to percentage of advanced placement, International Baccalaureate and Cambridge tests compared with the number of students enrolled. Selected schools represented seven districts in the area including Austin, Dripping Springs, Eanes, Lake Travis, Leander, Pflugerville and Round Rock.

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