Overview of the Austin Multifamily Market

Texas has one of the lowest tax burdens in the nation, which has caused many to migrate to the state. In 2019, the Austin metro area added 37,800 new jobs, a growth rate of 3.5%, according to the Austin Chamber of Commerce. As of the latest data released from the Bureau of Labor Statistics, Austin showed some of the fewest job losses in the U.S. market over the last year. The market is driven by growth in the technology sector, which appears to be insulated from the pandemic-related economic shutdown. As a result, it is expected that Austin will weather this recession better than other metros.