Austin Chamber of Commerce Market Stats
Thursday, May 01, 2008
We recently had a presentation from the Austin Chamber of Commerce and here are the market statistics they showed us.....
- In the past ten years, Austin's population has increased by 487,000.
- 1,000 persons per week are moving into Austin MSA
- By the year 2030, Austin's MSA population is predicted to be 3.5 mil
- Williamson county has increased by 53% since 2004.
- Williamson county population is expected to be 1 mil by 2030
- 20% of jobs in Austin require a Bachelor Degree
- 42% of workers have a Bachelor Degree creating approx. 80K workers are underemployed
- Professional/Business Services have added the most jobs in the last 12 months
- Since 2000 Austin MSA has experienced approx 14% decline in Hi Tech jobs
- Hi Tech compensation has declined 7% since 2000. Private sector wages have increased 6%
- There are approx 3000 Hi Tech companies within the Austin MSA which comprise 33% of total payroll
- The average income for Hi Tech workers is $80K
- Residential building permits peaked in 2005
- Austin had an average of 4 months inventory of residential properties available for purchase in 2007. In 2008, this number has increased to 4.7 months. The nationwide average is 6 months, so Austin is below the average in respect to residential inventory.
- Austin is one of the nation's biggest targets in Venture Capital.
- Austin's MSA population is less than 7% of Texas' population, but holds 48% of Venture Capital funding in Texas.
- 129 companies relocated to Austin since 2004
- 34 companies relocated to Austin from other cities within Texas. California follows in second with 29 companies relocating to Austin, and 17 companies have relocated internationally to Austin.
- The Chamber's plan is to bring 72K jobs to Austin within the next five years
- And last, but not least.........By the time you drive home this evening, there will be 84 more vehicles on the roads than there were whenever you went to work.
Don't believe the media hype! Austin is still growing and a great place to buy or sell a home.