Austin is known as the live music capital of the world and is home to ballet, world-class museums, one-of-a-kind shopping and beautiful outdoor spaces. Residents and visitors could just as easily spend a morning paddling the lake as they could strolling through a celebrated history museum.
Austin's population is 2.4M, with a total workforce of 1.2M. The labor market grew by 90,400 jobs over the past year, up by 8.0%. The median household income in Austin is $83,223, 4.2% lower than last year and 23.3% above the national average of $67,521.
In the housing market, total permits issued totaled 44,914 over the last twelve months, up 10.0% year-over-year. Austin has 436 active new home projects on the market, 14.2% fewer than the 508 from last year. The average list price in the market is $485,613, 27.0% higher than last year and 7.8% above the national average. Over the last three months, new home contracts decreased by 10.0% to 4,957. Austin and Georgetown had the highest concentration of the new home contracts in the Austin market.