Austin’s growth since the pandemic has almost entirely been in its suburbs.
From 2020 to 2022, the Austin MSA saw its population increase by over 120,000, the fourth biggest gain amongst metro areas in the country according to the latest release from the Census.
However, only around 7% of that growth came from the City of Austin itself, with the rest coming from suburban cities and unincorporated areas in the metro area.
Three cities in the Austin MSA – Georgetown, Leander, and Kyle – each had more population growth than the City of Austin in the two-year timeframe, despite Austin being 15 to 20 times larger in size.
In fact, these three cities were in the top 17 fastest growing cities in the country, regardless of size, in terms of total growth, and were the top three in the nation in terms of percentage growth with each seeing over 22% growth over that two-year stretch.
Affordability is a major driving factor. Georgetown, Leander, and Kyle are all within a 30-40 minute drive of Downtown Austin and offer more affordable housing options. Per our internal surveys, rents in these cities are on average a 20% to 25% discount on a per square foot basis for newer product and home prices are a 20% to 45% discount on a per square foot basis.
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