California has changed the Austin housing market in a number of ways, including:
  • Higher home prices: The influx of Californians to Austin has driven up home prices significantly. In 2010, the median home price in Austin was $193,500. By 2019, it had risen to $318,000. And by 2023, it had reached $566,562. This represents a 295% increase over the past 13 years.
  • Reduced affordability: The increase in home prices has made it more difficult for Austinites to afford to buy homes. In 2014, nearly two-thirds of homes in Austin were affordable to families earning the median income in the city. By 2022, fewer than one-third were.
  • Increased competition for homes: The influx of Californians has also increased competition for homes in Austin. This has made it more difficult for buyers to find homes that meet their needs and budget. In 2022, the average home in Austin sold in just 14 days.
  • Gentrification: The influx of Californians has also contributed to gentrification in Austin. This has led to displacement of some longtime residents, particularly in low-income neighborhoods.

In addition to these changes, the influx of Californians has also had a cultural impact on Austin. Californians are known for their liberal politics, their love of the outdoors, and their appreciation for good food and drink. As a result, Austin has become more progressive and cosmopolitan in recent years.

It is important to note that the influx of Californians is not the only factor that has contributed to the changes in the Austin-Round Rock housing market. Other factors, such as the city’s strong economy and its desirability as a place to live, have also played a role. However, the influx of Californians has undoubtedly had a significant impact on the market.

What can be done to address the challenges facing the Austin housing market?

There are a number of things that can be done to address the challenges facing the Austin housing market, including:

  • Increase the supply of affordable housing: The city of Austin is working to increase the supply of affordable housing by building more affordable housing units and providing subsidies to help low-income residents afford housing.
  • Protect tenants from eviction: The city of Austin has passed a number of ordinances to protect tenants from eviction, such as a just cause eviction ordinance and a rent cap ordinance.
  • Encourage transit-oriented development: The city of Austin is working to encourage transit-oriented development, which is development that is centered around public transportation. This can help to reduce the need for cars and make housing more affordable.
  • Address the root causes of homelessness: The city of Austin is working to address the root causes of homelessness, such as poverty, lack of mental health care, and substance abuse. This can help to reduce the number of people who are homeless and make the city a more affordable place to live for everyone.

It is important to note that addressing the challenges facing the Austin housing market will require a long-term commitment from the city, the state, and the private sector. There is no quick fix, but by working together, we can make Austin a more affordable place to live for everyone.

According to the 2021 Census Bureau data, about 111,000 people moved from California to Texas, which is an average of about 300 people per day. This is the most popular interstate relocation route in the United States.

There are a number of reasons why people are moving from California to Austin-Round Rock Texas. Some of the most common reasons include:

  • Lower cost of living: The cost of living in Texas is significantly lower than in California, especially when it comes to housing. According to the Cost of Living Index, the cost of living in Austin, Texas is about 20% lower than in San Francisco, California.
  • Strong job market: The job market in Texas is strong, with a number of industries growing rapidly, such as technology, healthcare, and manufacturing.
  • No state income tax: Texas does not have a state income tax, which can save residents a significant amount of money, especially those with high incomes.
  • Business-friendly environment: Texas is known for its business-friendly environment, with low taxes and regulations. This has made it a popular destination for businesses of all sizes.
  • Warm weather: Texas has warm weather year-round, which is appealing to many people, especially those who are moving from colder climates.

Overall, the influx of people from California is having a significant impact on the Texas economy and culture. It is changing the housing market, the job market, and the overall makeup of the state.

Rock Properties Realtors® live, work and office in the Austin-Round Rock MSA, near Cedar Park, Georgetown, Hutto, Leander, Liberty Hill, Pflugerville and Taylor. If you are buying or selling real estate, including residential, commercial property or land, Rock Properties will provide you excellent service based on 20 years of real estate experience in and around Williamson County Texas. Call us at 512-850-4510.