May is “National Moving Month!” SoOOoO… People everywhere are packing up their belongings to nestle into their cozy new homes.
As a tribute to this grand occasion, RENT.COM recently released their compilation of the top 10 fastest growing cities in America for renters. And you guessed it! Weird and beautiful Austin makes the cut at number 2. Between the year-long gorgeous weather, the surplus of music, festivals, eateries and boutique shops around town, it is really no surprise that Austin, Texas is in high demand.
But what exactly was the deciding factor?!
We’d certainly like to give credit to this funky city’s colorful mix of delightfully delicious BBQ, beanie-wearing hipsters and refreshing liberal culture, but we’ll have to take the more professional route. The low unemployment rate and influx of tech jobs has dubbed Austin the Silicon Valley of the South; making this quaint little town a paradise for start up’s and job seekers.
Here are some RENT.COM stats for you to ponder….
Percent Change in Population 2010-2012: 6.6%
Rental Vacancy Rate: 9.6%
Median Rental Rates: 1 bedroom: $1269, 2 bedroom: $2,214
People want in and as a result, the renters market has seen a continued struggle with rising rents and falling occupancy. Not to worry however; the Austin Business Journal reports a whopping 19,767 new units are set to be delivered soon, with more construction to follow!
While us regular Austin dwellers may scoff at the idea of coming in at number 2.. since this is the best city in the world… We’ll happily wear the crown for now. It’s only a matter of time until we make that number 1 spot!
Hit up Live Weird Realty to make all your home dreams come true!