Norada: Real Estate Investments, poses the question, is the Austin Housing Market for 2020, the best place for investment? According to the article, it indeed is. Why? Well, the Austin housing market 2020 is shaping up to continue the same growing trend it has established since a few years back as one of the hottest markets in the nation. Median home prices continue to increase, home sales continue to increase and long-term real estate investments in the capital of Texas continue to increase. Additionally, Austin is currently a seller’s real estate market- which means that the demand from buyers is currently greater than the supply of homes available for sale, according to the latest real estate data released.
Now, what is the cost of living in Austin, Texas the capital of live music, free thinking and free spirits, as expressed by the article? Aside from high housing prices, the cost of living in Austin is relatively affordable and reasonable. It is currently at 3% below the national average cost of living, making it an economical choice for new-comers. Additionally, housing is 15% below the national average and grocery costs stand 11% below it, a few of the many things one could mention. According to the article, amongst the top 10 areas with the lowest cost of living in Austin there is: Redwood, Texas, Lockhard, Texas, Martindale, Texas, Uhland Texas, Taylor, Texas and more.
So, why is Austin a good place to invest in Real Estate? The article gives 10 reasons why, let’s explore some of the most relevant ones. First off, one of the most positive things going on in Austin is the massive student population willing to rent properties for a premium if they are in easy commuting distance from universities such as UT Austin, St.Edward’s University, The Austin Community College and more. Second, Austin is the Silicon Prairie, also nicknamed the Silicon Hills because of the high amount of high tech employers it has attracted. This has resulted in an active upscale in Austin real estate market. Third, quality of life. One of the factors driving the Austin real estate market is the well documented quality life the city provides. In 2017 it was ranked first as for quality of life the city has to offer by the US News World Report. Fourth, Austin has an excellent tax environment. Although Texas’ property taxes are high, this is offset by the lack of a state income tax, according to the article. There is a low state and local tax burden for investors, something that undeniably makes it a great place to buy a home and rent it out, for instance. Fifth and final one for the blog, Austin has affordable real estate. As said before homes in Austin are cheaper than the national average, cheaper than housing in places such as California or New York.
In conclusion, with Austin becoming more diverse by the minute there are plenty of opportunities investors could and should take advantage of when it comes to investing on the city.
Austin clearly is a leader across the country with jobs, quality of life, housing and more, what is stopping you from investing? Thank you for reading my new blog and I encourage you to subscribe to keep on reading about a diverse range of informative and interesting topics!
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