Newcomer Domains in Austin Identified by ABJ Report
With the surge of millennials, investors, businessmen, and retirees to Austin, we can't help but wonder where all these new people are buying. After all, the knowledge can be helpful in several ways: we can either invest in newcomer's domains in expectation of a generous ROI, or we can monitor how our very own community is faring with regards to new development-- thanks to the surge (or lack thereof) of new home owners.
The Austin Business Journal created an interactive map (see right) that shows areas in Austin where new home owners are settling. Areas shown in red display higher proportions of residents who have moved in since 2010. Yellow areas, on the other hand, are the areas of the "locals" or residents who have lived in the area before the surge of "new blood".
The U.S. Census Bureau reports that majority of new residents in Austin are concentrated along the intersection of Burnet Road and Braker Lane. The concentration is evident in the areas surrounding The Domain shopping center and its mixed-use development. Out of 1,179 households, more than 955 are residents who have moved to the area since 2010. The Census Blocks show the highest proportion of new residents in the region.
Overall, 35% of Austin's residents have moved to the area since 2010. That's around 673,900 households that have settled in Austin since 2010. This current data shows the strong influx of newcomers into the city, but development cannot be attributed solely to their move; many locals have taken advantage of the demand and have upgraded their homes and/or invested in other properties to bolster the strong real estate trend.
To know more about the heavily-populated newcomer domains in Austin, you can visit the original Austin Business Journal article by clicking on this link.