According to the US News & World Report, Austin, Texas, is the number one best place to live in the United States. With a vibrant music scene, excellent public-school districts, and scenic hiking trails, there is a little bit of something for everyone. It isn’t a surprise that so many people want to live in Austin. Nestled in the heart of the Texas Hill Country, it truly is a spectacular place, and people are starting to take notice.
As a result of its outstanding reputation, Austin’s population has risen dramatically over the last twenty years, and there are no signs the growth will slow any time soon. According to the Austin Chamber of Commerce, the city’s population is projected to increase by 27.6% by 2030 and just about double by 2050. Nearby cities like Round Rock, Cedar Park, and Pflugerville have also experienced tremendous growth due to the rapid influx of people to the Austin Metro Area. As population growth continues, it wouldn’t be a surprise if Austin surpasses Dallas and Houston as the most populated city in Texas in the near future.
“It’s gonna be the biggest boomtown America has ever seen in 50 years, at least”
—Elon Musk
One of the primary driving factors behind Austin’s population boom is the influx of jobs. In 2020, Austin had a 2.86% increase in job growth and a 4.23% increase in the median household income. Because Austin is one of the country’s fastest-growing cities, annual increases in employment growth and median household income aren’t an anomaly; rather, they are commonplace. Major companies with corporate or regional headquarters in Austin include Apple, Dell, Google, Cirrus Logic, AMD, and Home Depot, among others. Austin has also recently earned the nickname “Silicon Hills” due to the rising number of high-tech companies setting up operations in the city alongside eBay, PayPal, Facebook, Google, Apple, Amazon, Oracle, and HomeAway.
One of the primary driving factors behind Austin’s population boom is the influx of jobs. In 2020, Austin had a 2.86% increase in job growth and a 4.23% increase in the median household income. Because Austin is one of the country’s fastest-growing cities, annual increases in employment growth and median household income aren’t an anomaly; rather, they are commonplace. Major companies with corporate or regional headquarters in Austin include Apple, Dell, Google, Cirrus Logic, AMD, and Home Depot, among others. Austin has also recently earned the nickname “Silicon Hills” due to the rising number of high-tech companies setting up operations in the city alongside eBay, PayPal, Facebook, Google, Apple, Amazon, Oracle, and HomeAway.
The population boom and job influx combined with a relatively low number of housing options has created one of the most competitive housing markets in the nation. As of 2021, there is only 0.9 months of supply on the Austin real estate market, which essentially means there is less than a thirty-day supply of properties at any given time. On average, properties listed on the market only last for twenty-nine days before being purchased. Listings typically receive at least thirty to fifty offers, and highly sought-after properties receive upwards of one hundred offers. Since the market is so competitive, it’s often challenging to be a competitive buyer without the ability to submit an all-cash offer.
As the Austin real estate market continues to flourish, it is quickly becoming the most attractive real estate investment hotspot in the U.S. However, it is also becoming increasingly difficult for average people to start investing in real estate. As an individual buyer, it can be challenging to prepare an all-cash offer, join time-consuming bidding wars, screen tenants, and manage the general upkeep of properties, especially for people not living remotely close to the property.
Ark7 is an innovative and accessible solution. Using Ark7’s simple and secure platform, investing in real estate is a hassle-free process. Ark7 handles the stressful things like bidding wars, tenant screening, property upkeep, and everything in between. All you have to do is choose the property you want to invest in, and you can invest in real estate for as little as $5.40 per share.
Ark7 currently has three properties in the Austin area. The first Austin property listed on the marketplace, S1, sold out in under seven minutes. The single-family home is located in Pflugerville, which is located just fifteen miles north of downtown Austin. Shares for the property were sold at $36 dollars per share, and buyers can expect an estimated 3.92%+ cash distribution and 3.11%+ rental income.
The second listing, S2, is a single-family home located on Creole Dr in North Austin near Wells Branch. The home is less than a twenty-minute drive from downtown Austin, and it’s located just ten minutes away from The Domain and the newly constructed Q2 Stadium, home to Austin FC. The property is also centrally located in the “Austin Tech Triangle,” so it is a convenient commute to many of the largest tech companies in Austin including IBM, Dell, and the future Apple corporate campus.
The third listing, S3, is located on Laminar Creek Rd in Cedar Park, TX. According to WalletHub, among small cities in the U.S., Cedar Park is the 9th best place to live. Located about 25 minutes northwest of downtown Austin, Cedar Park is the perfect place for those that want to enjoy everything Austin has to offer while also maintaining a suburban lifestyle. Cedar Park residents enjoy family-friendly neighborhoods, excellent public schools, and tons of dining and shopping options.
There is not a better time than now to invest in the most in-demand real estate ecosystem in the United States, and Ark7 is here to make the investment processes hassle-free. We will be there every step of the way to help you explore properties, locate investment opportunities, manage properties, and everything in between.
Create an account at Ark7 today, and head over to the marketplace to explore our exciting Austin area property listings. Checkout other best places to invest in Texas as well.
