Why Austin, Texas Is One of the Best Cities in America

Are you considering moving your business to Austin? Or are you thinking about investing in commercial property in Austin? You may be wondering what makes Austin a better choice than other cities. 

If you have lived in Austin long enough, chances are you have heard the question “why are companies choosing Austin?”

Austin Is One of the Best Places to Live in the U.S.

• Austin was named the best state capitol to live in (WalletHub)
• Austin is one of the top 10 best places to live in the U.S. (U.S. News)
• The Austin MSA added more than 50,000 residents between 2022 and 2023 (City of Austin)
• There is no state income tax in Austin or Texas

2023 Population Estimates

^{Source: U.S. Census Bureau}

Austin Is Youthful

• The median age of the Austin metro, 35.9 years, is three years younger than the national median age of 39 years (U.S. Census Bureau)
• A majority of the region’s population is in peak working years with 56.8% between the ages of 18 and 44, compared to 49.5% nationally (U.S. Census Bureau)

Austinites Are Educated

• Austin was ranked the fourth most educated city in the U.S. (Forbes)
• Over half the population (56.5%) in Austin holds a bachelor’s degree or higher (U.S. Census Bureau)
• 91.9% of the population has a high school diploma (U.S. Census Bureau)

Austin Is a College Town

• Based on key indicators of academic, social, and economic opportunities for students, Austin was named the best college town in America (WalletHub)
• Austin has 167,000 university students at 25 area colleges and universities (Opportunity Austin)
• The University of Texas at Austin has over 41,000 undergrad students, making it the ninth-largest university in the U.S. for undergrad enrollment (U.S. News)
• The University of Texas was named the ninth top public university in the U.S. (U.S. News)

Austin has over 20 different colleges and universities, including:

• The University of Texas at Austin
• Austin Community College
• St. Edward’s University
• Texas State University

Austin’s Job Market Is Robust

• Austin is one of the top 10 best places to find a job in the U.S. (U.S. News)
• Wage and job growth, unemployment rate, labor force size, and housing affordability make Austin the second-best city for Gen Z job seekers (MoneyGeek)
• Austin is one of the hottest job markets in America (Wall Street Journal)
• The Austin MSA boasts 3.2% unemployment versus 4.1% nationally (Bureau of Labor Statistics, 2024)
• Austin is one of the top 10 hardest-working cities in America (WalletHub)
• Due to job market strength and livability, Austin is one of the best cities to start a career (WalletHub)
• Austin had the strongest hiring rates in the U.S in 2023 (LinkedIn)
• Austin’s median household income is $86,556 versus a U.S. median of $75,149 (U.S. Census Bureau)
• Among the 51 largest U.S. metro areas, Austin topped job growth from 2014 to 2023, increasing by 49.9%. (U.S. Bureau of Labor Statistics)

Austin’s Economy Is Diverse

• The Austin-area GDP growth ranked No.1 among large U.S. metros in 2023 (Austin Business Journal)
• With significant job and wage growth, Austin was No. 2 on the list of best-performing cities (Milken Institute)
• Austin was named one of the top 10 biggest boomtowns in America (Checkr)
• Due to incentives and a large talent pool, Austin is one of the best cities for international business (Financial Times)

 Major employers in Austin (employing 6,000 & over) include:

• Amazon Fulfillment Centers
• Apple
• Ascension Seton
• Austin Independent School District
• City of Austin
• Dell Technologies
• Federal Government
• H-E-B
• IBM Corp.
• Round Rock Independent School District
• Samsung Austin Semiconductor
• St. David’s HealthCare Partnership
• State of Texas
• University of Texas at Austin

Austin Is aTech City

• Austin was named the best city for tech jobs (World Population Review)
• Jobs in Austin’s tech industries total 195,879, or 16.3% of all jobs, compared to 9.0% nationally (Austin Chamber of Commerce, 2022)
• With high wages and growing life sciences and medical fields, Austin is in the top 10 best cities for tech workers in the U.S. (Indeed)
• Tech payrolls in 2022 totaled $29.7 billion, or 30.2% of the Austin metro’s total payroll of $98.5 billion (Austin Chamber of Commerce, 2022)

Largest Tech Companies in Austin

^{Source: Austin Business Journal, 2024}

Austin Is a City of Science & Innovation

• Austin was ranked No. 2 for the best metro areas for STEM professionals (WalletHub)
• Austin’s life sciences sector includes over 300 companies employing 21,000 people, plus over 1,000 startups (Austin Business Journal)
• Austin’s life sciences venture capital investment grew 137% between 2018 and 2023 (Austin Business Journal)
• Over 1.5 million square feet of life sciences space is currently under construction in Austin (Austin Business Journal)
• More than $1 billion has been spent on research funding through the region’s academic and corporate institutions (Austin Business Journal)
• Austin ranks 14th nationally in life sciences patents per million residents (Austin Business Journal)

Austin Loves Startups

• Austin was named the most affordable city for startups (Clever)
• Austin ranks eighth in the U.S. and 16th globally for top startup cities, based on size and maturity (Pitchbook)
• Due to small business funding and taxes, Austin is the No. 1 best city for entrepreneurs (The Zebra)

Austin Is Great for Families

• Austin has 29 public school districts, 27 charter districts, and over 100 private schools (Opportunity Austin)
• 25 Austin high schools are recognized on U.S. News & World Report’s Best High Schools rankings (U.S. News)

Austin’s Housing Market Is Hot

• Over 90,000 housing units were added between 2010 and 2020 period, surpassing most major U.S. cities (City of Austin)
• Austin was ranked as the No. 1 housing market for growth and stability due to increasing home values and population growth (SmartAsset)
• Austin was named the best housing market for first-time buyers due to a booming job market and the city’s culture and wellness (Bankrate)
• Key indicators of housing-market attractiveness and economic strength helped to rank Austin as No. 2 on the list of best real estate markets in the large city category (WalletHub)
• Austin ranked in the top five on the list of top cities for one-way moves (U-Haul)

Austin is a Tourism Magnet

• 22,095,876 million people traveled through ABIA in 2023 (KXAN)
• Austin is one of the top 10 meeting places in the U.S. (cvent)
• Southern Living named Austin one of the top 10 best southern cities
• The Austin-Bergstrom International Airport was voted as one of the best U.S. airports for food (Food & Wine)

Austin City Limits Music Festival (ACL Fest)

• $499.9 million economic impact in 2023 (Austin-American Statesman)
• $3.5 billion economic impact since 2006 (Austin-American Statesman)

Austin is Central

• Austin’s central location means easy access to the east and west coasts
• Austin offers 92 nonstop flights (City of Austin)
• Austin is located in the Central Standard Time zone, giving plenty of overlap with working hours in other national and international cities

10 a.m. in Austin is:

• 8 a.m. in Los Angeles
• 11 a.m. in New York
• 4 p.m. in London
• 5 p.m. in Frankfurt

Distance from Austin

• Miami: 2.5 hours
• San Francisco: 3.5 hours
• San Jose: 3.5 hours
• New York: 3.5 hours
• London: 9 hours
• Frankfurt: 10 hours

Austin Is the Live Music Capital of the World

• Austin was ranked in the top 10 best party cities in the U.S. (U.S. News)
• Austin City Limits, the music performance television show, has aired since 1974
• Music legends including Willie Nelson, Janis Joplin, Stevie Ray Vaughan, and Townes Van Zandt hail from Austin
• Austin is home to over 160 live music venues (Visit Austin)
• ACL Music Fest began in 2002 on the greens of Zilker Park
• Austin was voted one of the best music cities in the U.S. (Fifty Grande)

Austin Is Active

• Austin Parks and Recreation includes nearly 20,000 acres of green space, over 250 miles of trail, and more than 350 parks (City of Austin)
• Austin hosts annual races, including the Austin Marathon, the 3M Half Marathon, and the Cap10K

Some of Austin’s popular outdoor attractions include:

• Zilker Park
• Lady Bird Johnson Wildflower Center
• Barton Springs
• Congress Avenue Bridge (Austin Bats)
• Lady Bird Lake Hike & Bike Trail
• Mount Bonnell
• Mayfield Park & Laguna Gloria
• The Green Belt
• Bull Creek District Park
• Deep Eddy Pool

Austin Is a Hub for Retail & Restaurants

• Austin is the No. 1 best BBQ city in the U.S. (Clever)
• Austin was voted as one of the best cities for food in the U.S. and one of the best food truck cities in the U.S. (Food & Wine)
• Austin was named one of the best foodie cities in America (WalletHub)

Austin Is Weird

• Coined by Red Wassenich (a librarian at Austin Community College), “Keep Austin Weird” became the unofficial slogan for the city
• Since the 1970s, Austin has become a magnet for creatives, innovators, and everything in between 
• Austin is authentically weird; from arts and visuals to music and food, no one does Texas like Austin

Still have questions about Austin? Reach out to our tenant representation team to learn more.