Can You Picture the Austin Area Having 2.7 Million Residents?
According to Bizjournals, the Austin-Round Rock area will be one of the fastest growing metro areas in the country through 2025. Of the 250 metro areas studied, the projection is that Austin and surrounding suburbs will be the 5th fastest growing metro area. Our area is expected to have 2.7 million residents by 2025. It looks like history will basically repeat itself. Between 1998 and 2008, the Austin metro area grew 43%. That compares to the state of Texas at around 21% and the country at just over 10%.
According to the Real Estate Center at Texas A&M, the bulk of the growth from 2000 through 2010 is expected to be in several areas. The fastest growing area is in the triangle between Parmer, 290 and IH 35. Other rapidly growing in Austin itself include areas close to the old Mueller Airport, areas south of the Colorado river, the area south of Oak Hill. Williamson County has seen significant growth and that is very likely to continue.
Where are people coming from? According to the Austin Chamber of Commerce, Austin typically sees a lot of people moving here from other parts of Texas. According to the Real Estate Center at Texas A&M, the greatest inflow of people into Texas has been from California, Louisiana, Oklahoma and Illinois. As economies in the Great Lakes region contract, people are likely to move to Texas. As other states continue to raise tax rates, we can expect an influx of people from those states as well.
Click here for the article and to see which metro areas are gaining and which are losing residents.
Questions about Austin real estate? Call me at 512-293-2422.