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Texas Capital Outpaces Other US Cities with Welcome Mat for 90,000 New Homes

Texas Capital Outpaces Other US Cities with Welcome Mat for 90,000 New HomesSource: City of Austin
Ryan Anderson
Published on November 23, 2023

While metropolises across the nation grapple with housing shortages and skyrocketing real estate prices, Austin has been quietly rewriting its own urban playbook. A newly released Demographic Story Map from the City’s Planning Department paints a picture of a city hustling to keep up with its own explosive growth, perhaps outpacing its national counterparts in the process. Over the last decade, the Texas capital has slapped a "welcome home" mat in front of more than 90,000 new housing units, putting other major U.S. cities in the rearview the department stated.

Yet, buried within the stats is a yellow flag: the acceleration that marked Austin's housing production from 2010 to 2020 fell short when compared to the previous decade. This slowdown bespeaks a broader realignment in the region's housing economy, as the city's share of housing stock within the Austin metro area shows signs of contracting. There's also been a noticeable tilt toward rental unit construction, signaling a potential shift in the homeownership landscape reports the city's Demography Division.

But perhaps the most startling figure is one that underscores Austin's magnetic pull: it experienced the fastest surge in household growth among all large U.S. cities and a group of select peer cities. This rate eclipsed not only the rise in housing units but also the total population jump during the same time frame. The coalescence of these trends suggests a fundamental change in the city's societal fabric, one that is increasingly opting for a lease over a mortgage deed.

The story doesn’t end here, though. With Austin burnishing its credentials as a fledgling urban powerhouse, eyes now turn to the next report from the Demographics Division, which promises to dig into the driving forces behind the city's breakneck household growth. A focus will be on the composition and characteristics of Austin's households, potentially offering insight into future urban policy and economic strategies.

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