Austin Population may Reach 3 Million Sooner than Expected
The summer of 2015 was a very remarkable time for Austin. After all, it’s not every day that a city’s population would pass the 2 million mark. With the incredible progress shown by the city, many are anticipating when Austin will hit another population milestone.
Austin state demographers project that the metropolitan area of Austin will reach 3 million residents in 2045. However, many regard this projection as conservative; some even think it is inaccurate. Because state demographers factor in suburban growth instead of urban growth, experts believe that the inaccuracy in projection could be as much as 15 years late.
City of Austin demographer Ryan Robinson predicts that the Austin metro area will surpass the 3 million mark in 2030. The report from LawnStarter does acknowledge, however, that the feat is "in no way crazy ambitious, but it’s certainly not conservative."
To achieve this, the counties of Travis, Williamson, Hays, Bastrop, and Caldwell, would need a 15-year growth rate of nearly 50%. To put things to perspective, the feat would be similar to adding the current population of metro Honolulu (approx. 1 million residents) in the next 15 years. While Robinson’s model may seem too aggressive, he is banking on the tremendous amount of redevelopment in the urbanized Austin area. This, and the remarkable economic growth of the city as seen in the last few years, actually makes his projections more feasible. The Austin proper is also expected to hit a population milestone of 1,000,000 residents by January 2020 from the recorded 900,000 residents in 2015.
And where does that place us? If you want to take advantage of Austin’s potential, then talk with Cain Realty Group today. Investing in real estate in Austin is definitely going to provide a hefty return of your investment with these promising forecasts!
This post was lifted from Arden Ward's original article published at the Culture Map Austin website. Copyrights remain with their respective owners.