Austin Provides Former New Yorkers A Better Lifestyle

austin is better

Courtesy of Modern Relics

New Yorkers young and old are leaving the fast-paced lifestyle and high costs of the Big Apple in favor of what Austinites might call a more sensible way of life. New statistics show a jump in the number of New York residents who are moving to Texas cities, including Austin.

The numbers are admittedly modest, but the statistics show a significant rise. While a number of things account for New Yorkers wanting to move to Austin, the city’s established reputation as a fun and funky place and its growing reputation for a higher than average quality of life are among them.

The Money Factor

In 2005, IRS data showed that 328 New Yorkers moved to Texas, some of those to Austin. In 2010, the number was 643, according to research compiled by the Center for an Urban Future — a nearly 100 percent jump. More specifically, the number of Brooklyn residents who moved to Austin jumped from 83 in 2005 to 224 in 2010.

Austin Jobs

Courtesy of Fleur Design

Experts agree that the migration comes down to money and other quality of life issues. Some come for jobs — something Austin has and New York doesn’t at the moment. When they get here, they discover that their New York savings goes much farther toward the home of their dreams than it would have in their home state.

Also, larger homes are available here at reasonable prices. That includes homes with large yards. Even better, they find that everything from clothing to groceries and theatre tickets to baseball game admission is less expensive too.

The Quality Of Life Factor

While many of them probably expect that Texas is a cultural void, they find high-quality musicals, plays and other performing arts productions as well as the live music and fun nightlife that Austin is known for.

The culture here isn’t exactly like New York, and that makes for a nice change in some people’s eyes.

Some people also find that living in Austin rather than in New York is less complicated. Driving is almost impossible there, neighbors are always close by and winter storms further complicate everything.

In Austin, the weather is more agreeable for many — with freezes relatively uncommon and snow storms too rare to mention. Summers can get hot, but New York summers are hot too.

Life’s Better Here

About 60 percent of the New York residents who moved between 2000 and 2009 moved to a southern state, according to one study.

In other studies, people have listed high taxes, the high cost of living and problems finding jobs in New York as reasons to head for something different. One moving company study recently showed that New Yorkers are the fourth likeliest of all Americans to move out of state in 2013.

Although it’s too soon to tell if it’s made any impact, Texas attorney general Greg Abbott has also run ads in New York encouraging citizens to move to Texas for greater personal liberties protection.

Depending on who you ask, leaving New York for Austin is either about escaping or arriving.

While getting away from cold weather, high housing and living costs and a confining metropolis are great reasons to leave the East Coast, the same things that attract others to Austin make it a magnet for those seeking a higher quality of life outside the confines of America’s biggest city.

Advertisements

Relocating to Austin in 2013? Here’s what to Expect

Austin Texas Lake Front

Austin Texas Lake Front (Photo credit: StuSeeger)

The annual spring and summer upswing in Austin real estate is already underway, so if you plan to relocate to the Travis County area sooner, it’s time to get in line. There are lots of people buying at this time of year and many other positive signs for the market as well. That means home inventories could get snapped up quickly, causing a price increase for whatever’s left.

Simply put, there may be no better time to move to Austin than right now.

The Austin real estate market stayed strong through the recent fall and winter, and the numbers from January are very positive too. All indications are that this year will be the best in the region for home sales since the downturn began in 2006. Before this busy season gets too far along, however, let’s pause for a moment and take a look back at what’s been happening with the Austin housing and job market. We also have some predictions for what’s to come.

More than 65,000 people moved to Austin in 2012. Our healthy and active job market takes credit for much of that migration. Unemployment numbers remain at only about 5 percent. In fact, more than 26,000 new jobs — mostly in healthcare and education — were added to the job base last year.

In addition, big and established companies like General Motors and Apple have announced plans to bring even more jobs to Travis County in the coming months. Austin voters took a positive step, too, when they invested in their infrastructure and at the same time created jobs by voting in favor of a new University of Texas Medical Branch campus.

These and other positive signs meant big growth for the real estate market in 2012. New home construction and available housing inventories are now playing catch up to keep on pace with the strong demand for homes in Austin.

But what does all this mean for the rest of 2013?

Experts expect that more than 16,000 new housing opportunities will be added to Austin this year, and about 30,000 jobs are coming to the city too. Apple’s new facility in Austin will add at least 10,000 jobs, plus Samsung, Visa and other companies are expected to bring work as well.

Image of Austin, Texas

Image of Austin, Texas (Photo credit: Wikipedia)

Inventories are catching up with demand, but people continue to move to Austin. That surely means prices will rise through the summer and into the usually slower fall and winter months of 2013.

Last year set the stage for growth and started a positive trend that’s expected to continue through this year. Today, Austin’s real estate market is considerably stronger than it was at this time last year. That’s good for the industry, but it means the most attractive window of opportunity for moving to the city could be coming to a close.

If you want to buy a home in Austin, now’s the time to do it. We recommend you start on the pathway to purchasing your Austin home now — before prices rise any further. If you wait, you’ll pay more and perhaps have fewer homes from which to choose.

Contact us now if you’re ready to jump into the Austin housing market while the best deals are still available to you.