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πŸ’° Killeen’s Wealth Boom & Austin’s Skyline Glow-Up: See Texas Shine! πŸš€

Austin Archuleta

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February 14, 2024

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Here’s what you need to know about Austin Real Estate today:

  • Killeen’s high earners skyrocket 146.2%, leading Texas’s wealth wave πŸš€
  • Austin’s skyline evolves, mirroring its booming economic health πŸŒ†
  • Austin leads U.S. in transitioning homeless to shelters, setting a benchmark 🏠
  • Gen Z picks Texas as their top move-to state, eyeing job gold 🌡

    Economic Growth and Housing Market Trends

    Surprising Central Texas city has more than doubled its rate of big earners

    Source: CultureMap Austin

    Summary: Central Texas city, Killeen, has experienced a 146.2% growth in high-income households since 2021, making it the city with the fourth-highest growth in this population bracket in the U.S. Additionally, Killeen has been ranked as the city with the best housing market for first-time homebuyers in the country. Meanwhile, the North Austin suburb of Round Rock saw a 51.1% growth in high-income households. In contrast, Austin itself ranked 172nd in the nation, with a growth rate of 19.2%.

    Why this matters: The surge in high-income households in Killeen and Round Rock signifies an increased demand for quality residential properties, opening opportunities for residential real estate professionals to cater to this growing market demographic.

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    Homelessness and Housing Solutions

      City of Austin Making Significant Progress in Building Pathways to Exit Homelessness

      Source: www.austintexas.gov

      Summary: The city of Austin’s Homeless Strategy Office and the Housing Department have reported significant strides in addressing homelessness in the city. Over 3,324 clients used shelter services in the fiscal year 2023, with Austin outperforming all other U.S. cities in successfully transitioning individuals out of shelters. The city expects a growth of 630% in permanent supportive housing units by 2026, with ongoing measures to encourage this growth, including landlord incentives, rental housing development assistance, and new partnerships.

      Why this matters: The City’s concrete efforts towards homelessness eradication can be valuable knowledge for our clients, who may be interested in the future growth in permanent supportive housing units, which signals potential investment opportunities and a shift in the local housing market dynamics.

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      Gen Z Migration and Economic Impacts

        Gen Zers are choosing Texas for their new home more than any other state

        Source: The Eagle Tribune

        Summary: The article highlights that Gen Z, generally referring to those aged 12 to 27, is increasingly choosing Texas as their new home, with the state attracting more young movers than any other. The central attraction is job opportunities, despite the higher housing costs. Texas has seen a significant streak of job growth and is expected to overtake California as the biggest retail market in the country soon. Furthermore, Texas’s cost of living is more affordable than many states, and it particularly excels at talent retention. This Gen Z migration trend has significant implications for the state’s economy, workforce, and real estate markets, especially in its biggest cities, including Austin. The influx of young workers will help drive growth and sustain local economies. However, it also necessitates investment in infrastructure and services to support this growing population.

        Why this matters: The increasing influx of Gen Z to Texas, particularly Austin, highlights a promising trend for real estate players – a growing young workforce means potential expansion of both residential and commercial real estate markets, providing realtors with opportunities to cater to this demographic’s unique housing and property needs.

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        Commercial, Construction, Real Estate & Construction, Residential

        The Future Is Now: Williamson Tech Hub’s Massive Expansion πŸš€

        Discover the transformative expansion of the Williamson Tech Hub in Round Rock, TX, a project set to bolster the local tech scene with an additional 25,000 sq ft for startups, promising job creation, and cementing Williamson County's status as a burgeoning global tech hotspot. This massive development, backed by a $2,500,000 investment, aligns with the county's wider tech boom, including Samsung's $17 billion chip factory and new ventures by CelLink and Google, signaling unprecedented economic and community growth. Dive deeper into how this expansion and the broader tech wave are set to reshape the local economy and opportunities, making now the ideal time to get involved or invest in one of the country's fastest-growing tech hubs.

        The hero image for the article titled "The Future Is Now: Williamson Tech Hub's Massive Expansion πŸš€" could capture the essence of innovation, community growth, and technological advancement in Round Rock, Texas. Picture this: The scene is set during the golden hour, casting a warm glow over the Williamson Tech Hub. The building stands prominently at the forefront, its glass facade reflecting the sunset, symbolizing transparency and the future of tech in Round Rock. The hub is buzzing with activity; people of various backgrounds are entering and exiting, highlighting the diversity and inclusivity of the tech community. In the foreground, a large banner with the text "Grand Expansion - The Future Starts Here" is draped across the construction fencing, signifying the ongoing work and the anticipation for what's to come. Behind it, construction cranes and scaffolding are visible, representing progress and the physical growth of the tech hub. To the right, a group of tech professionals is engaged in animated discussion, perhaps sharing ideas or collaborating on a project, showcasing the hub as a place for innovation and networking. In the background, the skyline of Round Rock is starting to light up, with digital overlays indicating other key tech players in the area, such as Samsung and Google, connecting the expansion to the broader tech boom in Williamson County. On the left, an interactive digital display shows plans for the new floors and a countdown to the completion date, inviting community interaction and interest. This display also features a QR code that passersby can scan to learn more about the expansion project, job opportunities, and how to get involved, blending the physical and digital worlds. The image is dynamic and forward-looking, capturing the excitement and potential of the Williamson Tech Hub's expansion. It communicates not just the physical growth of the tech hub but also its role as a catalyst for job creation, innovation, and community development in Round Rock and beyond.
        Daily Brief, Events, Local News, Stuff to do

        News & Events Update for April 22 2024

        Discover the latest Austin hot spot, Malone Specialty Coffee, where unique single-origin brews meet a quirky, retro vibe, promising a coffee experience infused with local pride. Meanwhile, if you're navigating the Austin real estate market, Smart Austin Realty is ready to expertly guide you through buying, selling, or exploring your housing options with insider knowledge and personalized services. Click through for the full scoop on Austin's vibrant coffee scene and real estate insights that could help you call this dynamic city home.

        Create a detailed watercolor & ink image of a stimulating event in the heart of Texas, Austin. The picture should depict the grand opening of Malone Specialty Coffee, a local favorite that has recently opened a storefront - Malone Coffee Roastery and Cafe. Focusing on single-origin coffees and blends with a local twist, all named after Austin's treasured parks, the coffee shop represents an amalgamation of Austin's character. The setting should reflect a blend of modern-day Austin infused with a retro feel that draws inspiration from vintage Austin postcards and significant landmarks. Consider the cheery weather forecast for Austin on the particular day, with a high of 74Β°F perfect for an outdoor setting, to portray the weather accurately. Ensure the image is clear, layered, and consistent, fulfilling the nuances of watercolor style, and is exported in high resolution suitable for both web and print.
        Commercial, Construction, Daily Brief, Developments, Local News, Real Estate & Construction, Residential

        Construction & Real Estate Update for April 22 2024

        Discover the latest twists in Austin's real estate and construction sectors, from the quieting of new permits to the nuanced dance of fluctuating property values amidst Texas' unique tax laws. Learn how these dynamics are influencing both the Austin-Round Rock housing market and homeowners in Central Texas, and why staying informed is crucial for making savvy decisions in this ever-changing landscape. Dive deeper with Smart Austin Realty, your guide to navigating the complexities of buying, selling, and living in Austin's vibrant community. [Read the full article for insights and guidance.](https://smartaustinrealty.com/#form)

        Discover the latest twists in Austin's real estate and construction sectors, from the quieting of new permits to the nuanced dance of fluctuating property values amidst Texas' unique tax laws. Learn how these dynamics are influencing both the Austin-Round Rock housing market and homeowners in Central Texas, and why staying informed is crucial for making savvy decisions in this ever-changing landscape. Dive deeper with Smart Austin Realty, your guide to navigating the complexities of buying, selling, and living in Austin's vibrant community. [Read the full article for insights and guidance.](https://smartaustinrealty.com/#form)
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