This article is updated annually and was last updated in August 2022.

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.

Top 15 U.S. Cities by Population

Rank City  Population
1 New York. NY 8,804,490
2 Los Angeles, CA 3,898,747
3 Chicago, IL 2,746,388
4 Houston, TX 2,304,580
5 Phoenix. AZ 1,608,139
6 Philadelphia, PA 1,603,797
7 San Antonio, TX 1,434,625
8 San Diego, CA 1,386,932
9 Dallas, TX 1,304,379
10 San Jose, CA  1,013,240
11 Austin, TX 961,855
12 Jacksonville, FL 949,611
13 Fort Worth, TX 918,915
14 Columbus, OH  905,748
15 Charlotte, NC 903,211

Source: U.S. Census Bureau – 2020 Census

 

Austin Is Youthful

Drinks in East Austin | Why Austin Is a Great Place for Your Business

 

Austinites Are Educated

Educational Attainment

Rank City Bachelor’s Degree or Higher
1 Seattle 65%
2 Austin 53%
3 Minneapolis 52%
4 Denver 50%
5 Baltimore 33%
6 United States 33%

Source: U.S. Census Bureau, 2020

 

Austin Is a College Town

Austin has over 20 different colleges and universities in the area, including:

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

UT

 

Austin’s Job Market Is Robust

Top U.S. Boom Towns

Rank City
1 Austin, TX
2 Salt Lake City, UT
3 San Jose, CA
4 Denver, CO
5 Raleigh, NC
6 Houston, TX
7 Dallas, TX
8 San Antonio, TX

Source: Forbes

 

Austin’s Economy Is Diverse

  • The Austin MSA is primarily dominated by professional and business services, government, and education and health services
  • Austin’s GDP grew by 59.3% from 2010 to 2020 (St. Louis Fed Research)

Major Employers in Austin

Employing 6,000 and Over
Apple
Austin Independent School District
City of Austin
Dell Technologies
Federal Government
IBM Corp
Samsung Semiconductor
Seton Healthcare Partnership
St. David’s Healthcare Partnership
State of Texas
University of Texas at Austin

Source: Texas Workforce Commission

 

Breakdown of Industries in Austin MSA

Industries in Austin | Why Austin Is a Great Place for Your Business

 

Austin Is the State Capital of Texas

Capital Building

 

Austin Is the Best Tech City in the World

Largest Tech Companies in Austin

Company  Number of Employees 
Dell 14,000
Samsung  8,935
Applied Materials 7,000
IBM 6,000
Tesla 5,000
NXP Semi 4,000
Indeed 2,800
Oracle 2,500
Google 2,500
Facebook 2,000
Amazon 1,800

Source: Austin Chamber, 2022

 

Austin Is a City of Science & Innovation

 

Austin Loves Startups

The majority of the coworking space in Austin is attributable to WeWork, while the rest is attributable to the four other top coworking companies:

  • WeWork: 7 locations with a total of 558,000 square feet
  • Spaces: 2 locations with a total of 90,000 square feet
  • Capital Factory: 2 locations with a total of 90,000 square feet
  • Industrious: 3 locations with a total of 73,100 square feet
  • Incubator CTX: 1 location with a total of 59,116 square feet

 

Austin’s Cost of Living

 

Austin’s Housing Market Is Hot

  • Austin has seen 30% growth in housing units since 2010 (Esri)
  • Austin was ranked as the No. 1 Hottest Housing Marking in the Country
  • 44.52% of people own homes in Austin (Esri)
  • 55.48% of people in Austin are renters (Esri)

 

Total Housing Units and Growth in Major U.S. Cities

Site 2022 Total Housing Units 2010 Total Housing Units 2010-2022 Growth 2022 Owner-Occupied Housing Units (%) 2022 Renter-Occupied Housing Units (%)
Denver City, CO 362,148 285,490 27% 48.69% 51.31%
Houston City, TX 1,027,393 897,917 14% 43.39% 56.61%
Dallas City, TX 581,962 516,400 13% 39.46% 60.54%
Austin City, TX 471,365 362,104 30% 44.52% 55.48%
Nashville 331,696 273,405 21% 53.12% 46.88%
Raleigh City, NC 215,166 177,360 21% 51.41% 48.59%
Charlotte City, NC 398,134 320,590 24% 50.84% 49.16%
Boston City, MA 310,839 272,480 14% 34.52% 65.48%
Atlanta City, GA 269,488 225,896 19% 44.82% 55.18%

Source: Esri

 

Austin is a Tourism Magnet

Austin City Limits Music Festival (ACL Fest)

East Austin Comedy Show | Why Austin Is a Great Place for Your Business

 

Austin is Central

  • Austin’s central location means easy access to the east and west coasts
  • Austin offers nearly 100 nonstop flights to locations in North America and Europe
  • 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 Nightlife Scenes in the U.S.
  • 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 250 live music venues
  • ACL Music Fest began in 2002 on the greens of Zilker Park
  • Austin was named America’s Greatest Music City and is known as The Live Music Captial of the World

Austin Entertainment | Why Austin Is a Great Place for Your Business

 

Austin Is Active

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
  • Hamilton Pool
  • Deep Eddy Pool

Zilker Park | Why Austin Is a Great Place for Your Business

 

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

Austin Bar | Why Austin Is a Great Place for Your Business

 

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

 

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Kirk Silas | AQUILA Commercial

Kirk Silas

Kirk manages AQUILA's research department and oversees research initiatives and data collection

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