It’s no secret that everyone wants to move to Austin, TX. According to a recent study, Austin is the fastest-growing large city in the United States. The cities were scored based on 17 factors, including overall population increases, growth of businesses (notably of tech companies), income, and the cost of living.
There are several reasons why this is. Austin has everything from the University of Texas at Austin to a ton of tech companies– including Apple, who is expected to move into their new, $1 billion office by 2022.
There are some problems, however, with such rapid growth.
Perhaps the biggest one the “affordable housing crisis.” According to the Austin Board of Realtors (ABOR) in a 2019 report, home sales reached an all-time high while the inventory of single-family homes hit an all-time low. The discrepancy caused the median cost of a home to hit $405,000 in Austin proper.
Due to the high-demand-low-supply of Austin’s housing market, moving to Austin may not be as feasible, but moving close to Austin definitely can be.
This is a list of three nearby towns and suburbs that well let you move to Austin (even if you’re not technically” in Austin).
Cedar Park, TX
Cedar Park is situated about about 20 miles north-northwest of downtown Austin, just up U.S. Highway 183– and is also where Pure Realty is located! A report from 2019 ranked Cedar Park the third best affordable place to live in Texas for several reasons.
The affordability part of that title is due to a few things, like low tax rates and the ratio of available affordable housing. The median list price for a home in Cedar Park is $339,000 and is projected to stay well below the $400s through 2021.
There are more reasons for moving to Cedar Park, besides relative affordability: well-respected Leander ISD, groundbreaking tech firms, and attractions like Texas Stars hockey games– Cedar Park’s American Hockey League team– and Twin Lakes Park, and Lake Travis is close by, too.
Pflugerville is about 20 miles north from downtown Austin on Interstate 35. It’s a part of the Austin Metropolitan Area, but has a lot to bring to the table as its own city, with its German roots, unique downtown district, and nearby Lake Pflugerville.
In the last few years, people have moved to Pflugerville for numerous reasons. Per Shontel Mays, president and CEO of the Pflugerville Chamber of Commerce in a 2018 article from Culture Map Austin: “Businesses are attracted to Pflugerville because of our affordability, infrastructure, and business-friendly environment. We have the space they need, a skilled workforce, and a great location along major transportation routes.”
As of January 31, 2020, the median list price of a home in Pflugerville is $290,000– well below the $405,000 of Austin.
The city of Georgetown lies 30 miles north of Austin and has a population that is still well shy of 100,000.
This sets it up as a sweet spot between the city living of Austin and the small-town feel many people want. It’s been one of the fifteen fastest growing cities in every year for the last five years, and there are several reasons why. Again, there is the small-town vibe of the town, which can be felt in the historic downtown– “The Most Beautiful Town Square in Texas,” according to the city. Other factors like schools, attractions, and the cost of living have contributed to its growth and desirability.
Like the other two cities on this list, the median list price of a home in Georgetown is $305,990 which is almost $100,000 less than Austin.
There are many more neighborhoods, suburbs, and towns in and around Austin, but keep an eye on these three as they grow in the years to come.
Pure Realty is located in Cedar Park and works with nearly 140 agents to help people in and around the Austin area find their home. Our agents’ listings can be found here.
Learn more about the Pure Realty story here.