Strong employment makes Austin an appealing location

The city of Austin has seen a surge of relocating individuals, drawn mainly by the promise of a strong jobs market.

Austin's rental market in particularly has benefited from the recent influx of moving professionals, reported Multi-Housing News. A shortage of available properties - fueled by low investor funds - has driven demand even higher in a city that has become popular with relocating workers.

"The buoyancy of the Austin market is sustainable due to Austin’s reputation for a progressive, active, opportunistic quality of life. Austin continues to be a popular lifestyle destination for relocations from all over the country," Michael Watson of investment specialist Marcus and Millichap told MHN.

His company's latest rental market report predicts that more companies relocating to the city will fuel demand for apartments. Vacancy rates in the city are expected to fall to 9 percent by the end of year, said the report.

Austin's low cost of living was also cited as a big reason why young people are relocating to the city in a report by Kiplinger. The magazine recently listed Austin as one of the top cities for young adults to move to.


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