Austin: United States' Most Changed City
Posted by Regent Property Group on Monday, October 30th, 2017 at 5:41pm. 788 Views
Longtime residents of Austin, Texas might be heard saying, “This city sure has changed.” And they’d be right, according to a MagnifyMoney study, which named Austin the most changed metro area in the United States over the last ten years.
Looking at nine elements of change from 2006 to 2016 among the 50 largest metros, Austin ranked number one with a score of 90.4 out of 100. Change factors included commute times, building permits, median age, employment, income, housing prices, rent, crime rate, and recent moves.
From these factors, Austin had the fastest job growth in the nation, increasing 40+ percent since 2006. And a staggering 60 percent of Austin residents have moved since 2010, for a third in the nation score. This mobility is even with another of Austin’s highest scores in the nation: a 54 percent increase in home prices since 2006.
MagnifyMoney attributed the change despite or with these factors to the reasoning that other tech centers like the San Francisco Bay Area and Seattle have even higher costs of living. It also attributed these changes to the use of satellite offices among larger tech companies, a “burgeoning” startup scene, and Texas’ no state income tax.
Austin’s lowest ranked factor was building permits, which came in at 25 out of the 50 metros, and likely has been a factor in home prices. Dallas and Houston ranked second and third for the most change, followed by Nashville at fourth and then Portland and Denver tied at fifth. Craving constancy? Birmingham, Alabama was the 50th out of 50 for change.
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