Austin has been making headlines for its incredible growth in the past and for its future growth prospects. According to a recent article published by the Austin Business Journal, Austin’s population is expected to double in size over the next 25 years. That means the city will be home to nearly 4 million residents by 2040. At 98.5% growth, this rise is faster than any other city in the country.
While we can’t predict precisely what the next 25 years will bring, Austin’s history supports this exponential growth. The city’s population recently passed the two million mark in 2015. With new residents moving to the city every day, that number only grows bigger. Austin also makes regular appearances on lists of the fastest-growing cities in the country. In fact, Forbes ranked Austin as number one on its list of America's next boomtowns for its incredible growth.
So what keeps Austin growing? One of the top factors is undoubtedly the area’s job growth and stable economy. Between May 2015 and May 2016, the Austin area experienced a 3.9% job growth, making it the third best-performing metro in the country. Major employers like IBM and Dell have kept Austinites employed for years, and have been joined by even more tech companies, including Apple and Facebook. Austin is also a great environment to establish startups or small businesses and watch them grow into major companies, like HomeAway and RetailMeNot. Beyond job growth, Austin’s unique culture is attractive to new residents. Whether you like staying active or expressing your creativity, Austin has something for everyone to enjoy. Hang out on the lake, watch a unique film, see a local or popular band, shop, attend a festival; the list goes on!
Whether or not Austin’s population hits 4 million in the next 25 years, the fact remains that the city will continue to attract new residents. We love Austin, and we’d love to help you discover a home you’ll love in the area. Curious to view Austin homes for sale? Check out our powerful search tools, or contact us to start working with one of our expert agents.