Fortunes are changing in Austin—a longtime magnet for new arrivals is dealing with skyrocketing housing costs and increasing amounts of out-migration.
Britny Eubank reports for KVUE that Austin’s migration trends have shifted in the outward direction after years of waves of new arrivals from other cities and states.
“The latest migration report from Rent.com shows Austin is the fourth leading city in the U.S. when it comes to outward migration, or people moving out of the city. The top three cities for outward migration were Charlotte, North Carolina; St. Louis; and Chicago,” writes Eubank.
Some of the reversal in migration might have to do with the cost of housing. “Rent.com noted that renters in Austin saw the average cost of a one-bedroom increase by 108.2% since last June – the largest increase in the nation,” explains Eubank. Planetizen shared news at the end of 2021 about a Zillow forecast, reported by the New York Times, calculating Austin as the most expensive housing market outside of California.
Rent.com data also reveals that those looking to leave Austin aren’t going far, like outmigration in other expensive cities around the country.
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