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Real estate investors take note: Austin is now the top market in the United States to watch, according to a report published by the Urban Land Institute (ULI).
The Urban Land Institute’s Emerging Trends in Real Estate forecast ranked Austin first out of 80 American cities for overall real estate prospects and investor demand in 2020, citing the city’s deep talent pool, vibrant lifestyle and ambitious commitment to business and real estate expansion as important factors for growth. By comparison, Austin ranked sixth in 2019 and second in 2017.
Austin’s top ranking signifies more than just a good opportunity for those looking to invest in real estate – it also means that employment opportunities are ample, and that Austin residents enjoy a high quality of life, among other things. In fact, employment opportunities are so abundant that the city of Austin was also ranked the hottest job market by the Wall Street Journal for the second year in a row. The Journal’s ranking takes four metrics into account: unemployment rate, workforce participation rate, job growth rate and wage growth rate.
As job opportunities continue to attract new people to Austin, investors are more likely to invest in what residents are looking for, including suburbs that have reliable transit and are city-accessible; abundant retail, restaurant and recreation options; and business practices that are environmentally and socially conscious.
Discover why Austin is the top market in the United States for yourself by exploring Empire’s communities in and around the city.