Should You Move to Austin, TX?
Go Back To Previous PageAustin, Texas, is a city that has captured national attention for its booming economy, vibrant culture, and laid-back lifestyle. Whether you’re a young professional, a growing family, or a retiree looking for a change of scenery, Austin offers something for everyone. According to the U.S. Census Bureau, Austin’s metro area grew by 33% from 2010 to 2020, making it one of the fastest-growing cities in America. However, as with any significant move, it’s essential to consider both the benefits and challenges before deciding if Austin is the right place for you.
What Is Austin Known For?
Before leaping, it’s essential to understand what Austin is all about. The city has developed a reputation for several things that make it stand out from other major metropolitan areas in
the U.S. It combines a rich cultural history with a modern, forward-thinking atmosphere that attracts creatives, entrepreneurs, and tech innovators alike.
Whether you’re drawn to its artistic scene, tech industry, or outdoor lifestyle, Austin offers an array of experiences for different personalities and interests.
Live Music Capital of the World
Austin is home to legendary music festivals like South by Southwest (SXSW) and Austin City Limits (ACL), making it a haven for music lovers. The city has more than 250 live music venues, offering diverse genres from country to indie rock.
Austin’s thriving local music scene contributes over $1.8 billion annually to the economy, proving how integral music is to its identity.
Tech Hub of the South
With major companies like Tesla, Google, and Apple setting up shop, Austin has quickly become a hotbed for tech jobs. In 2023, Austin ranked #5 in the U.S. for tech job postings, with an average tech salary of $125,000 annually. The influx of tech talent has helped fuel Austin’s economy, leading to a 21% increase in median household income over the past decade.
Outdoor Paradise
From kayaking on Lady Bird Lake to hiking at the Greenbelt, outdoor enthusiasts thrive in Austin’s warm climate. The city has over 250 parks and 100 miles of trails, making it easy to stay active year-round. Whether you prefer paddleboarding, mountain biking, or simply relaxing in Zilker Park, Austin makes it easy to enjoy nature without leaving the city limits.
Foodie Heaven
The city is famous for its barbecue (looking at you, Franklin’s) and Tex-Mex, but it also has a diverse and innovative food scene. Austin has over 2,000 food trucks, from gourmet burgers to vegan tacos. Food & Wine magazine ranked Austin #4 in the U.S. for best food cities, proving that there’s something for every palate.
Keep Austin Weird
The city embraces individuality, local businesses, and a quirky culture that makes it stand out from the rest of Texas. The “Keep Austin Weird” movement has contributed to a strong support system for small businesses, with nearly 90% of companies in Austin being locally owned.
The city’s uniqueness is celebrated through events like Eeyore’s Birthday Party and the annual Bat Fest, drawing thousands of visitors annually.
Reasons to Move to Austin, Texas
If you’re considering relocating, there are plenty of reasons to move to Austin. The city’s mix of economic opportunity, cultural richness, and quality of life has made it one of the most popular destinations in the U.S. Whether looking for career growth, a fun social scene, or a laid-back lifestyle, Austin has something to offer. Here are some of the biggest draws:
Booming Job Market
Austin is one of the fastest-growing cities in the U.S., and much of that growth is fueled by its thriving job market. The tech industry is booming, with companies like Dell, Oracle, and IBM offering high-paying jobs. In 2023, Austin’s unemployment rate was 2.9%, significantly lower than the national average of 3.7%. The city also ranks among the top 5 cities for job seekers, with an increasing demand for tech professionals, healthcare workers, and skilled trades.
No State Income Tax
One of Texas’s biggest financial perks is that there is no state income tax. That means more of your paycheck stays in your pocket. This primarily benefits business owners, freelancers, and high-income earners who might otherwise pay significant taxes in other states.
Texas is one of only nine states in the U.S. that doesn’t impose an income tax, making it financially attractive for many newcomers.
Affordable Housing Market
Austin’s housing market is still relatively affordable compared to other major cities like San Francisco or New York. The median home price in Austin was $450,000 in 2023, significantly lower than San Francisco’s $1.3 million.
While prices have risen because of increased demand, you can still find reasonable housing options, especially in the suburbs like Round Rock, Cedar Park, and Pflugerville. However, with more people moving in each year, home prices steadily increase, so now may be the best time to buy.
Why Not Move to Austin?
Of course, no city is perfect. While Austin has much to offer, it also comes with some challenges. Considering these potential downsides before committing to a big move is important. Here are a few reasons why moving to Austin might not be the best choice for everyone:
Cost of Living Is Rising
While Austin is still more affordable than cities like Los Angeles or Seattle, its cost of living has been climbing rapidly. Between 2019 and 2023, the city saw a 38% increase in housing costs, making it harder for new residents to find affordable homes.
Rent has also increased, with the average one-bedroom apartment costing around $1,700 per month, up from $1,200 in 2018.
Traffic Can Be a Nightmare
Austin’s infrastructure hasn’t entirely kept up with its rapid growth, leading to severe traffic congestion. The city ranks 14th worst in the U.S. for traffic congestion, with commuters spending an average of 64 hours per year stuck in traffic. If you don’t live close to your job, you could spend much time on I-35 or MoPac trying to get across town.
Tips for Moving to Austin
If you’ve decided that Austin is the right place for you, here are a few tips to make your move smoother:
- Choose the Right Neighborhood. Each part of Austin has its unique vibe. If you want to be close to the nightlife, consider living downtown, but South Austin or the suburbs may be a better fit if you prefer a more laid-back lifestyle.
- Be Ready for Traffic. Choose a home close to your workplace to minimize commute times. Biking and public transportation can help, but they’re not always ideal.
- Hire a Reliable Moving Company. Whether moving from another Texas city or across the country, working with a local moving company in Austin can make the process much easier. By hiring professionals, you’ll save time, reduce stress, and avoid potential moving mishaps.
Should You Move to Austin?
So, is moving to Austin a good idea? The answer depends on what you’re looking for. Austin is an excellent choice if you want a city with a booming job market, great food, outdoor activities, and a vibrant culture. However, you may want to weigh your options carefully if you’re worried about high housing costs, traffic, or intense heat.
Ultimately, Austin offers an exciting and dynamic lifestyle that attracts thousands of new residents yearly. It might be the perfect place for your next adventure if you’re ready to embrace the Texas capital’s unique charm.
Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.
