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Austin Ranks at the Top for Real Estate |
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Land Area 2006 Population Density 358.3 people per square mile Counties Bastrop, Caldwell, Hays, Travis, Williamson Source: U.S. Census Bureau and Real Estate Center at Texas A&M University Real Estate Market Overview 2007 Austin - Round Rock Originally a buffalo-hunting ground favored by Tonkawa Indians, Austin was permanently settled in 1838 as a trading post. The Austin-Round Rock Metropolitan Statistical Area (MSA) is now part of the I- 35 growth corridor in the heart of Texas. According to the U.S. Census Bureau, the Austin MSA experienced the largest increase in income in the state and was one of the country's fastest-growing cities during the 1990s, growing by nearly 48 percent. Austin, the capital of Texas, is home to the University of Texas, the largest university in the nation. The city supports a politically charged and culturally rich environment. Area Cities and Towns Austin, Cedar Park, Georgetown, Leander, Lockhart, Pflugerville, Round Rock, San Marcos, Taylor Quick Facts * This report's MSA data reflects either 1999 or 2003 MSA definitions based on data availability. Use of 1999 definition is noted where applicable. Microsoft product screen shot reprinted with permission from Microsoft Corporation. ANDERSON ANDREWS ANGELINA ARANSAS ARCHER ARMSTRONG ATASCOSA AUSTIN BAILEY BANDERA BASTROP BAYLOR BEE BELL BEXAR BLANCO BORDEN BOSQUE BOWIE BRAZORIA BRAZOS BREWSTER BRISCOE BROOKS BROWN BURLESON BURNET CALDWELL CALHOUN CALLAHAN CAMERON CAMP CARSON CASS CASTRO CHAMBERS CHEROKEE CHILDRESS CLAY COCHRAN COKE COLEMAN COLLIN COLLINGSWORTH COLORADO COMAL COMANCHE CONCHO COOKE CORYELL COTTLE CRANE CROCKETT CROSBY CULBERSON DALLAM DALLAS DAWSON DEAF SMITH DELTA DENTON DE WITT DICKENS DIMMIT DONLEY DUVAL EASTLAND ECTOR EDWARDS ELLIS EL PASO ERATH FALLS FANNIN FAYETTE FISHER FLOYD FOARD FORT BEND FRANKLIN FREESTONE FRIO GAINES GALVESTON GARZA GILLESPIE GLASSCOCK GOLIAD GONZALES GRAY GRAYSON GREGG GRIMES GUADALUPE HALE HALL HAMILTON HANSFORD HARDEMAN HARDIN HARRIS HARRISON HARTLEY HASKELL HAYS HEMPHILL HENDERSON HIDALGO HILL HOCKLEY HOOD HOPKINS HOUSTON HOWARD HUDSPETH HUNT HUTCHINSON IRION JACK JACKSON JASPER JEFF DAVIS JEFFERSON JIM HOGG JIM WELLS JOHNSON JONES KARNES KAUFMAN KENDALL KENEDY KENT KERR KIMBLE KING KINNEY KLEBERG KNOX LAMAR LAMB LAMPASAS LA SALLE LAVACA LEE LEON LIBERTY LIMESTONE LIPSCOMB LIVE OAK LLANO LOVING LUBBOCK LYNN MCCULLOCH MCLENNAN MCMULLEN MADISON MARION MARTIN MASON MAVERICK MATAGORDA MEDINA MENARD MIDLAND MILAM MILLS MITCHELL MONTAGUE MONTGOMERY MOORE MORRIS MOTLEY NACOGDOCHES NAVARRO NEWTON NOLAN NUECES OCHILTREE OLDHAM ORANGE PALO PINTO PANOLA PARKER PARMER PECOS POLK POTTER PRESIDIO RAINS RANDALL REAGAN REAL RED RIVER REEVES REFUGIO ROBERTS ROBERTSON ROCKWALL RUNNELS RUSK SABINE SAN AUGUSTINE SAN JACINTO SAN PATRICIO SAN SABA SCHLEICHER SCURRY SHACKLEFORD SHELBY SHERMAN SMITH SOMERVELL STARR STEPHENS STERLING STONEWALL SUTTON SWISHER TARRANT TAYLOR TERRELL TERRY THROCKMORTON TITUS TOM GREEN TRAVIS TRINITY TYLER UPSHUR UPTON UVALDE VAL VERDE VAN ZANDT VICTORIA WALKER WALLER WARD WASHINGTON WEBB WHARTON WHEELER WICHITA WILBARGER WILLACY WILLIAMSON WILSON WINKLER WISE WOOD YOAKUM YOUNG ZAPATA ZAVALA 24 25 23 22 20 21 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 3 4 2 1 Metropolitan Statistical Areas (MSAs) 1. Abilene 2. Amarillo 3. Austin-Round Rock 4. Beaumont-Port Arthur 5. Brownsville-Harlingen 6. College Station-Bryan 7. Corpus Christi 8. Dallas-Fort Worth-Arlington 9. El Paso 10. Houston-Sugar Land-Baytown 11. Killeen-Temple-Fort Hood 12. Laredo 13. Longview 14. Lubbock 15. McAllen-Edinburg-Mission 16. Midland 17. Odessa 18. San Angelo 19. San Antonio 20. Sherman-Denison 21. Texarkana 22. Tyler 23. Victoria 24. Waco 25. Wichita Falls Prepared by the Labor Market and Career Information Department, TWC Edited by Real Estate Center at Texas A&M University Table of Contents Demographics..............................................................................................1 Education .....................................................................................................4 Employment .................................................................................................5 Economy ....................................................................................................10 Infrastructure..............................................................................................11 Public Facilities ..........................................................................................12 Multifamily ..................................................................................................14 Housing......................................................................................................17 Retail..........................................................................................................24 Hotel...........................................................................................................29 Office..........................................................................................................31 Industrial ....................................................................................................36 Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Demographics Year Population Percent Change 1996 1,073,037 - 1997 1,111,264 3.6 1998 1,155,579 4.0 1999 1,205,898 4.4 2000 1,249,763 3.6 2001 1,319,000 5.5 2002 1,346,332 2.1 2003 1,376,005 2.2 2004 1,411,199 2.6 2005 1,452,529 2.9 2006 1,513,565 4.2 * July 1 population estimates Source: U.S. Census Bureau Austin MSA Population County 1996 2006 Growth 1996-2006 (in percent) Bastrop 48,739 71,684 47.1 Caldwell 29,546 36,720 24.3 Hays 82,010 130,325 58.9 Travis 717,194 921,006 28.4 Williamson 195,548 353,830 80.9 * July 1 population estimates County Population* Growth Source: U.S. Census Bureau City 1990 Population 2000 Population Growth 1990 - 2000 (in percent) Austin 465,622 656,562 41.0 Cedar Park 5,161 26,049 404.7 Georgetown 14,842 28,339 90.9 Lockhart 9,205 11,615 26.2 Pflugerville 4,444 16,335 267.6 Round Rock 30,923 61,136 97.7 San Marcos 28,743 34,733 20.8 Taylor 11,472 13,575 18.3 Source: U.S. Census Bureau Area Cities With 10,000 or More Residents - 1 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Metropolitan Area 1996 2006 Percent Change Austin-Round Rock 1,073,037 1,513,565 41.1 McAllen-Edinburg-Mission 503,411 700,634 39.2 Laredo 171,583 231,470 34.9 Dallas-Fort Worth-Arlington 4,627,649 6,003,967 29.7 Houston-Sugar Land-Baytown 4,334,020 5,539,949 27.8 Brownsville-Harlingen 312,086 387,717 24.2 San Antonio 1,599,427 1,942,217 21.4 Texas 19,340,342 22,859,968 18.2 Tyler 166,087 194,635 17.2 Sherman-Denison 102,993 118,478 15.0 El Paso 656,482 736,310 12.2 College Station-Bryan 172,341 192,152 11.5 Amarillo 217,579 241,515 11.0 Killeen-Temple-Fort Hood 318,613 351,322 10.3 Waco 205,894 226,189 9.9 Midland 114,412 124,380 8.7 Longview 190,556 203,367 6.7 Lubbock 247,099 261,411 5.8 Texarkana 127,694 134,510 5.3 Victoria 108,636 114,088 5.0 Odessa 121,519 127,462 4.9 Corpus Christi 398,529 415,810 4.3 San Angelo 104,574 105,752 1.1 Abilene 156,351 158,063 1.1 Beaumont-Port Arthur 380,417 379,640 -0.2 Wichita Falls 151,170 145,528 -3.7 * July 1 population estimates Source: U.S. Census Bureau Texas Metropolitan Area Population* Change Year Texas State Data Center (Scenario 0.5) Texas Water Development Board 2000 1,249,763 1,249,763 2005 1,405,638 - 2010 1,563,179 1,610,452 2015 1,727,413 - 2020 1,898,404 2,061,706 2025 2,079,470 - 2030 2,269,254 2,508,413 2035 2,463,056 - 2040 2,658,510 2,937,897 Austin-Round Rock MSA Projected Population Sources: Texas State Data Center (2006 projection) and Texas Water Development Board (2006 projection) - 2 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Texas Metropolitan Area Population Growth Forecast, 2000 - 2020 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Laredo McAllen-Edinburg-Mission Austin-Round Rock Brownsville-Harlingen Dallas-Fort Worth-Arlington El Paso Houston-Sugar Land-Baytown Killeen-Temple-Fort Hood Texas Corpus Christi San Antonio Amarillo College Station-Bryan Victoria Odessa Waco Tyler Midland Lubbock Longview Sherman-Denison San Angelo Abilene Beaumont-Port Arthur Wichita Falls Texarkana Source: Texas State Data Center – Scenario 0.5 (2006 projection) Austin MSA Texas Average household size (2000) 2.57 2.74 Population younger than 18 (2000, in percent) 25.4 28.2 Population 65 and older (2000, in percent) 7.3 9.9 Household Composition Source: U.S. Census Bureau (1999 definition) Austin MSA Texas White 72.5 71.0 Black 8.0 11.5 Asian 3.5 2.7 American Indian 0.6 0.6 Other 12.8 11.7 Two or more races 2.6 2.5 Hispanic (of any race) 26.2 32.0 Distribution by Race and Hispanic or Latino Origin, 2000 (in percent) Source: U.S. Census Bureau (1999 definition) - 3 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Education County High school graduate Some college, no degree Associate's degree Bachelor's degree Master's degree Doctorate degree Bastrop 31.7 22.9 5.3 12.4 3.1 0.5 Caldwell 34.8 20.2 3.1 10.0 2.6 0.2 Hays 22.9 25.6 4.8 20.4 7.4 1.9 Travis 17.3 21.5 5.2 26.1 9.6 2.1 Williamson 22.2 26.4 6.6 24.4 6.8 1.1 Texas 24.8 22.4 5.2 15.6 5.2 0.8 Educational Attainment, Persons Age 25 and Older, 2000 (in percent) Source: U.S. Census Bureau Level of Education Austin MSA Texas High School Graduate or Higher 84.8 75.7 Bachelor's Degree or Higher 36.7 23.2 Educational Level, Persons Age 25 and Older, 2000 (in percent) Source: U.S. Census Bureau (1999 definition) School 2002 2003 2004 2005 2006 Austin Community College 29,156 28,862 29,004 30,499 31,610 Concordia University 1,045 1,061 1,114 1,193 1,239 Huston-Tillotson University 642 666 685 706 742 St. Edward's University 4,266 4,441 4,648 4,928 5,218 Texas State University - San Marcos 25,025 26,306 26,783 27,129 27,485 University of Texas 52,261 51,426 50,377 49,233 49,697 Local College and University Enrollment, Fall Semester Source: Texas Higher Education Coordinating Board - 4 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Employment Employer Sector Employees Local Government Government 69,700 State Government Government 65,900 University of Texas at Austin Higher education 20,249 Dell Inc. Personal computer systems 16,000 Federal Government Government 10,800 Austin School District Public education 10,408 Seton Family of Hospitals Medical care 7,500 Freescale Semiconductor Inc. Microprocessors 6,600 H.E.Butt Grocery Co. (Austin regional office) Retail 6,200 IBM Corporation Circuit cards, hardware and software 6,200 Source: Texas Workforce Commission July 2006 Employer Sector Employees Dell Inc. Personal computer systems 16,000 Seton Family of Hospitals Medical care 7,500 Freescale Semiconductor Inc. Microprocessors 6,600 H.E.Butt Grocery Co. (Austin regional office) Retail 6,200 IBM Corporation Circuit cards, hardware and software 6,200 St. David's Healthcare Healthcare 5,048 Wal-Mart Retail 4,700 Advanced Micro Devices, Inc. (AMD) Semiconductors 3,000 Applied Materials Semiconductors 2,200 National Instruments Computer software developer 2,000 Source: Texas Workforce Commission July 2006 Top Ten Employers Top Ten Private Employers - 5 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock MSA Texas Employment Growth 2006 (Percent Change) 3.9 3.3 Unemployment Rate 2006 (Percent Change) 4.1 4.9 Net Job Change in 2006 26,700 318,300 2006 Employment Growth by Sector (Percent Change) Natural Resources and Mining and Construction 11.0 7.5 Manufacturing 2.4 3.2 Trade, Transportation, and Utilities 4.1 2.5 Information 0.9 -0.4 Financial Activities 5.1 2.6 Professional and Business Services 5.1 6.0 Educational and Health Services 2.2 2.8 Leisure and Hospitality 6.3 3.9 Government 1.3 1.7 Employment Growth by Industry Source: Texas Workforce Commission and Real Estate Center at Texas A&M University Metropolitan Area 1996 2006 Percent Change McAllen-Edinburg-Mission 126,900 202,600 59.7 Midland 126,900 202,600 59.7 Laredo 56,500 84,200 49.0 Austin-Round Rock 540,900 720,000 33.1 Brownsville-Harlingen 94,000 121,300 29.0 College Station-Bryan 71,400 90,200 26.3 Tyler 73,700 91,700 24.4 Killeen-Temple-Fort Hood 97,600 118,100 21.0 Dallas-Fort Worth-Arlington 2,331,600 2,860,800 22.7 San Antonio 658,300 811,300 23.2 Longview 76,100 91,600 20.4 Houston-Sugar Land-Baytown 1,981,700 2,446,000 23.4 Texas 8,257,900 10,053,300 21.7 Lubbock 111,300 128,400 15.4 Waco 92,600 106,000 14.5 Corpus Christi 155,100 173,800 12.1 Odessa 48,100 57,400 19.3 Amarillo 96,900 110,100 13.6 Victoria 45,200 50,000 10.6 El Paso 236,700 264,800 11.9 Texarkana 50,300 55,700 10.7 Sherman-Denison 42,000 44,500 6.0 Abilene 60,600 65,300 7.8 San Angelo 42,500 44,700 5.2 Wichita Falls 59,600 62,500 4.9 Beaumont-Port Arthur 151,200 160,500 6.2 Texas Metropolitan Area Nonfarm Employment Change Source: Texas Workforce Commission and Real Estate Center at Texas A&M University - 6 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Metropolitan Area Nonfarm Employment Change 1996-2006 0% 10% 20% 30% 40% 50% 60% 70% McAllen-Edinburg-Mission Midland Laredo Austin-Round Rock Brownsville-Harlingen College Station-Bryan Tyler Houston-Sugar Land-Baytown San Antonio Dallas-Fort Worth-Arlington Texas Killeen-Temple-Fort Hood Longview Odessa Lubbock Waco Amarillo Corpus Christi El Paso Texarkana Victoria Abilene Beaumont-Port Arthur Sherman-Denison San Angelo Wichita Falls Source: Texas Workforce Commission and Real Estate Center Average Hourly Wage 2005 $18.84 $18.76 $18.71 $17.10 $16.56 $15.85 $15.76 $15.59 $15.51 $15.37 $15.34 $15.11 $15.11 $14.89 $14.71 $14.66 $14.63 $14.45 $14.23 $14.17 $14.14 $14.08 $13.50 $13.39 $12.72 $12.25 $10.00 $12.00 $14.00 $16.00 $18.00 $20.00 Dallas-Fort Worth-Arlington Houston-Sugar Land-Baytown Austin-Round Rock Texas Midland College Station-Bryan San Antonio Beaumont-Port Arthur Lubbock Amarillo Victoria Odessa Tyler Corpus Christi Texarkana Sherman-Denison Longview Waco Killeen-Temple-Fort Hood Wichita Falls El Paso San Angelo Laredo Abilene McAllen-Edinburg-Mission Brownsville-Harlingen Source: Texas Workforce Commission - 7 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Year Employment Percent Change 1996 540,900 - 1997 566,300 4.7 1998 600,700 6.1 1999 635,400 5.8 2000 672,700 5.9 2001 674,100 0.2 2002 658,400 -2.3 2003 653,000 -0.8 2004 667,400 2.2 2005 693,300 3.9 2006 720,000 3.9 Austin-Round Rock MSA Nonfarm Employment Source: Texas Workforce Commission and Real Estate Center at Texas A&M University Nonfarm Employment Growth Austin-Round Rock MSA -3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Percent Change from Previous Year Source: Texas Workforce Commission and Real Estate Center at Texas A&M University - 8 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock MSA Unemployment Rate 0 1 2 3 4 5 6 7 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Percent Source: Texas Workforce Commission and Real Estate Center at Texas A&M University Distribution of Employment in Major Categories Austin-Round Rock MSA 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 2002 2003 2004 2005 2006 Total Annual Jobs Natural Resources and Mining and Construction Manufacturing Trade, Transportation, and Utilities Information Financial Activities Professional and Business Services Educational and Health Services Leisure and Hospitality Government Source: Texas Workforce Commission and Real Estate Center at Texas A&M University - 9 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Economy Year Total Sales Sales per Capita 1995 $10,910,789,589 #N/A 1996 $11,856,282,020 $11,049 1997 $13,041,622,170 $11,736 1998 $13,938,050,757 $12,062 1999 $15,595,121,628 $12,932 2000 $18,067,257,543 $14,457 2001 $18,727,357,098 $14,198 2002 $18,767,884,229 $13,940 2003 $19,688,227,806 $14,308 2004 $20,927,995,264 $14,830 2005 $22,271,899,450 $15,333 State Average 2005: $15,935 * 2006 data not available as of April 15, 2007. Austin-Round Rock Gross Retail Sales Source: Texas Comptroller's Office Gross Retail Sales per Capita 2005 $5,000 $7,000 $9,000 $11,000 $13,000 $15,000 $17,000 $19,000 $21,000 Lubbock Dallas-Plano-Irving MD Midland Texas Odessa Austin-Round Rock Tyler Longview Amarillo Fort Worth-Arlington MD San Antonio Houston-Sugar Land-Baytown Killeen-Temple-Fort Hood Victoria Laredo San Angelo Abilene Waco Sherman-Denison College Station-Bryan Beaumont-Port Arthur Wichita Falls Corpus Christi El Paso McAllen-Edinburg-Mission Texarkana Brownsville-Harlingen Source: Texas Comptroller's Office - 10 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Infrastructure 2002 2003 2004 2005 2006 Enplaned (int'l & national) 3,439,302 3,306,357 3,707,864 3,922,203 4,211,309 Deplaned (int'l & national) 3,281,366 3,400,724 3,530,781 3,761,342 4,050,001 Total (int'l & national) 6,720,668 6,707,081 7,238,645 7,683,545 8,261,310 Source: Austin-Bergstrom International Airport Austin Airline Activity Austin-Bergstrom International Airport 2002 2003 2004 2005 2006 Austin-Bergstrom International Airport 285,896,271 252,276,024 254,419,495 241,814,505 229,750,544 Source: Austin-Bergstrom International Airport Austin Cargo Statistics - 11 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Public Facilities Austin City Public Facilities Building Permits 2005* Austin City Building Permit Office * 2006 data not available as of April 15, 2007. Cedar Park City Public Facilities Building Permits 2005* Cedar Park City Building Permits Building Permits * 2006 data not available as of April 15, 2007. - 12 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Round Rock Public Facilities Building Permits 2005* Round Rock City Building Permit Office * 2006 data not available as of April 15, 2007. - 13 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Multifamily Austin San Marcos Texas Metro Area Average rent per square foot $0.85 $0.86 $0.77 Average rent for units built since 2000 $0.86 $0.95 $0.86 Average occupancy 94.6% 93.5% 92.8% Average occupancy for units built since 2000 94.2% 92.2% 94.1% Source: Apartment MarketData Research Austin Apartment Statistics 2006 Austin MSA Multifamily Market Historical Rent and Occupancy $0.77 $0.78 $0.80 $0.85 $0.89 $0.97 $0.98 $0.88 $0.82 $0.81 $0.83 $0.91 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 $1.00 82.00% 84.00% 86.00% 88.00% 90.00% 92.00% 94.00% 96.00% 98.00% 100.00% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Occupancy Rental Rate Source: Austin Investor Interests www.apartmenttrends.com - 14 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-San Marcos Multifamily Building Permits 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Units Source: U.S. Bureau of Census and Real Estate Center at Texas A&M University 5+ Multifamily Building Permits p 2006 figure is a preliminary number. Austin City Multifamily Building Permits 2005* Austin City Building Permit Office * 2006 data not available as of April 15, 2007. - 15 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Round Rock Multifamily Building Permits 2005* Round Rock City Building Permit Office * 2006 data not available as of April 15, 2007. - 16 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Austin-Round Rock Market Overview 2007 Housing MLS 2006 Median- Priced Home Required Income to Qualify Median Family Income HAI* HAI for First- Time Homebuyers** Austin $172,000 $42,313 $69,600 1.64 1.09 State $143,000 $35,179 $54,300 1.54 1.05 US $221,900 $54,139 $59,600 1.10 0.62 Source: Real Estate Center at Texas A&M University 2006 Housing Affordability Index * The HAI is the ratio of the median family income to the income required to buy the median-priced house using standard mortgage financing at the current interest rate. Standard financing is a fixed-rate, 30-year loan covering 80 percent of the cost of the home. A HAI of 1.00 indicates that the median family income is exactly equal to the required income to qualify for the standard loan to purchase the median-priced house. ** First-time home buyer is assumed to purchase a home equal to the first quartile home price using a 90% home loan at an interest rate 0.5 percent greater than the standard current rate. Price Range 2000 2001 2002 2003 2004 2005 2006 $29,999 or less 0.3 0.3 0.3 0.4 0.7 0.5 0.3 30,000 - 39,999 0.4 0.4 0.3 0.6 1.0 0.8 0.6 40,000 - 49,999 0.8 0.6 0.6 0.8 1.1 0.8 0.6 50,000 - 59,999 1.3 0.9 0.9 1.1 1.2 1.0 0.9 60,000 - 69,999 2.1 1.3 1.2 1.4 1.6 1.4 1.1 70,000 - 79,999 2.7 1.8 1.6 1.6 2.3 2.0 1.6 80,000 - 89,999 4.9 3.2 2.5 2.9 3.1 3.0 2.2 90,000 - 99,999 7.3 4.5 3.9 3.9 4.0 3.7 2.7 100,000 - 119,999 14.9 14.6 13.3 12.6 12.1 11.0 9.0 120,000 - 139,999 13.0 16.2 16.5 15.6 14.7 13.7 13.6 140,000 - 159,999 10.1 11.7 12.5 12.1 11.7 11.4 11.4 160,000 - 179,999 7.8 9.4 9.4 9.4 8.8 9.3 10.2 180,000 - 199,999 5.9 6.4 6.6 6.5 6.4 6.7 7.1 200,000 - 249,999 9.9 10.2 10.8 10.7 10.5 11.2 11.7 250,000 - 299,999 6.2 6.5 7.4 7.4 6.9 7.2 8.0 300,000 - 399,999 5.8 6.2 6.5 6.5 7.2 8.2 8.8 400,000 - 499,999 2.7 2.2 2.4 2.6 2.8 3.5 4.2 500,000 and more 4.0 3.6 3.5 3.7 4.0 4.6 6.0 Source: Real Estate Center at Texas A&M University Price Distribution of MLS Homes Sold, Austin Area (in percent) - 17 - Anderson Mill Estates Balcones Village Jollyville McNeil Estates Wells Branch Pflugerville Windsor Hills Gracy Woods Quail Creek Balcones Woods Georgian Acres Austin Hills Great Hills Northwest Hills Lakewood Jester Estates Steiner Ranch Lost Creek West Lake Hills Davenport Ranch Allandale Highland Park West St. Johns Rosedale Tarrytown Bryker Woods Rollingwood Enfield Clarksville Hyde Park UT Delwood French Place Capitol University Hills Walnut Hills Springdale Hills Colony Park Kennedy Ridge Hornsby Bend Del Valle Austin- Bergstrom International Airport Montopolis Southside Govalle Travis Heights Barton Bouldin Hills Circle C Shady Hollow Tanglewood Forest Buckingham Estates Onion Creek Texas Oaks San Leanne Manchaca Oak Hill Sunset Valley Dove Springs Cherry Creek Maple Run Crestview The Estate of Barton Creek 35 35 290 71 360 969 360 71 1 1 290 183 183 2244 2222 620 N Austin Neighborhoods © Real Estate Center at Texas A&M University Real Estate Center Market Overview 2007 Austin-Round Rock, TX Price Distribution of MLS Homes Sold Austin Area 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 $29,999 or less 30,000 - 39,999 40,000 - 49,999 50,000 - 59,999 60,000 - 69,999 70,000 - 79,999 80,000 - 89,999 90,000 - 99,999 100,000 - 119,999 120,000 - 139,999 140,000 - 159,999 160,000 - 179,999 180,000 - 199,999 200,000 - 249,999 250,000 - 299,999 300,000 - 399,999 400,000 - 499,999 500,000 and more Percent 2004 2005 2006 Source: Real Estate Center at Texas A&M University Taxing Entity* Tax Rate per $100 Valuation Travis County 0.4499 City of Austin 0.4126 Austin ISD 1.4930 Total $2.36 Taxing Entity* Tax Rate per $100 Valuation Williamson County 0.4675 City of Round Rock 0.3711 Round Rock ISD 1.6406 Total $2.48 Taxing Entity* Tax Rate per $100 Valuation Hays County 0.3790 City of San Marcos 0.4702 San Marcos ISD 1.7000 Total $2.55 * Only the typical taxing entities are listed. However, there are numerous numbers of taxing entities that need to be taken into account for an actual tax rate calculation. See following links for more complete lists: http://www.traviscad.org/06rates.pdf http://www.hayscad.com/PA/haysweb/taxrates.htm http://www.wcad.org/ (tax rates) Property Tax Rates, 2006 County, Major City, Major School District Source: Travis, Williamson, and Hays County Appraisal District - 19 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX National Home Price Appreciation -5% 0% 5% 10% 15% 20% 25% 30% 4Q-96 2Q-97 4Q-97 2Q-98 4Q-98 2Q-99 4Q-99 2Q-00 4Q-00 2Q-01 4Q-01 2Q-02 4Q-02 2Q-03 4Q-03 2Q-04 4Q-04 2Q-05 4Q-05 2Q-06 4Q-06 Change from Previous Year California Florida Texas USA The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae. Source: Office of Federal Housing Enterprise Oversight California Florida USA Texas Home Price Appreciation Austin-Round Rock MSA -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 4Q-96 2Q-97 4Q-97 2Q-98 4Q-98 2Q-99 4Q-99 2Q-00 4Q-00 2Q-01 4Q-01 2Q-02 4Q-02 2Q-03 4Q-03 2Q-04 4Q-04 2Q-05 4Q-05 2Q-06 4Q-06 Change from Previous Year Austin-Round Rock Texas USA The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae. Source: Office of Federal Housing Enterprise Oversight - 20 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Housing Unit Characteristics Owneroccupied housing units Renteroccupied housing units Total occupied housing units Owneroccupied housing units Renteroccupied housing units Total occupied housing units Occupied housing units 326,484 214,201 540,685 5,162,604 2,815,491 7,978,095 Household Size 1-person household 20.0% 42.6% 29.0% 19.1% 35.0% 24.7% 2-person household 35.9% 28.2% 32.9% 34.2% 25.8% 31.2% 3-person household 16.9% 12.6% 15.2% 17.2% 16.0% 16.8% 4-or-more-person household 27.2% 16.5% 23.0% 29.5% 23.2% 27.3% Race and Hispanic or Latino Origin of Householder One Race White 81.3% 69.7% 76.7% 79.0% 66.2% 74.5% Black or African American 5.3% 9.9% 7.1% 8.2% 17.9% 11.6% American Indian and Alaska Native 0.7% 0.3% 0.6% 0.5% 0.6% 0.6% Asian 3.5% 5.0% 4.1% 2.9% 3.1% 3.0% Native Hawaiian and Other Pacific Islander - - 0.0% 0.0% 0.1% 0.0% Some other race 8.0% 13.6% 10.2% 8.3% 10.8% 9.2% Two or more races 1.2% 1.5% 1.3% 1.0% 1.4% 1.2% Age of Householder Under 35 years 18.0% 55.6% 32.9% 14.4% 46.3% 25.6% 35 to 44 years 25.3% 19.6% 23.0% 21.9% 21.4% 21.7% 45 to 54 years 24.8% 13.7% 20.4% 24.1% 15.4% 21.0% 55 to 64 years 16.1% 5.9% 12.1% 18.1% 8.3% 14.7% 65 to 74 years 9.3% 2.5% 6.6% 11.9% 4.2% 9.2% 75 to 84 years 4.9% 1.8% 3.7% 7.6% 3.1% 6.1% 85 years and over 1.6% 0.9% 1.3% 2.0% 1.3% 1.8% Units in Structure 1, detached 87.7% 18.1% 60.1% 87.5% 28.3% 66.6% 1, attached 2.7% 4.5% 3.4% 2.3% 3.6% 2.8% 2 apartments 0.7% 7.4% 3.3% 0.3% 4.9% 1.9% 3 or 4 apartments 0.4% 6.4% 2.8% 0.4% 8.8% 3.3% 5 to 9 apartments 0.2% 10.8% 4.4% 0.3% 13.8% 5.1% 10 or more apartments 1.4% 49.4% 20.4% 0.7% 35.1% 12.9% Mobile home or other type of housing 6.9% 3.4% 5.5% 8.5% 5.6% 7.5% Year Structure Built 2000 or later 19.6% 17.7% 18.9% 13.7% 10.9% 12.7% 1990 to 1999 25.7% 19.1% 23.1% 18.6% 14.8% 17.2% 1980 to 1989 21.4% 23.6% 22.2% 18.7% 22.5% 20.1% 1960 to 1979 20.4% 30.5% 24.4% 28.7% 35.0% 30.9% 1940 to 1959 9.0% 7.0% 8.2% 15.4% 12.4% 14.3% 1939 or earlier 3.9% 2.0% 3.2% 4.9% 4.5% 4.8% Bedrooms No bedroom 0.2% 2.0% 0.9% 0.2% 1.5% 0.6% 1 bedroom 2.0% 38.1% 16.3% 2.1% 32.6% 12.9% 2 or 3 bedrooms 65.8% 56.3% 62.0% 70.8% 61.7% 67.6% 4 or more bedrooms 32.0% 3.6% 20.8% 26.8% 4.2% 18.9% Annual Household Income and Housing Costs* Median household income (dollars) $71,389 $30,992 $50,484 $54,610 $26,782 $42,139 Annual Median Housing Costs (dollars) $15,336 $8,964 $11,664 $10,536 $8,052 $9,108 Housing Costs as a percentage of household income 21.5% 28.9% 23.1% 19.3% 30.1% 21.6% * in 2005 inflation-adjusted dollars Austin-Round Rock MSA Texas 2005 Occupied Housing Unit Characteristics Source: U.S. Census Bureau 2005 and Real Estate Center at Texas A&M University - 21 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Yearly Homes Sales and Months Inventory Austin MLS 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Sales 0 1 2 3 4 5 6 7 Months Inventory Sales Supply Source: Real Estate Center at Texas A&M University Months of Inventory measures the current absorption rate and how long it would take for current supply to be depleted if no other listings came on the market. Average Sales Price Austin MLS $0 $50,000 $100,000 $150,000 $200,000 $250,000 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Source: Real Estate Center at Texas A&M University - 22 - Real Estate Center Market Overview 2007 Austin-Round Rock, TX Single-Family Homes Sales Volume Austin MLS 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Units 2004 2005 2006 Source: Real Estate Center at Texas A&M University Single-Family Building Permits and Average Value Austin-San Marcos 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 20000 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Unit
--Sandy Hoffman
November 01, 2008 02:09 PM
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Previous Entries
| How to buy REO properties- Great Article |
March 26, 2009 09:34 PM |
| Refinance Guidelines |
March 26, 2009 09:31 PM |
| Home Prices Rise for the First Time This Year |
March 26, 2009 09:28 PM |
| REO Database Links |
March 26, 2009 09:25 PM |
| 15 Companies that may not make it in 2009 |
February 25, 2009 11:05 PM |
| Make sure your Agent is WELL CONNECTED |
November 01, 2008 02:15 PM |
| Austin in Top 10 for affordability |
November 01, 2008 02:11 PM |
| Austin Ranks at the Top for Real Estate |
November 01, 2008 02:09 PM |
| Horseshoe Bay- Sweet Spot |
September 21, 2007 01:51 PM |
| Horseshoe Bay Geological Makeup and Information |
September 21, 2007 01:49 PM |
| Horseshoe Bay Facts |
September 21, 2007 01:46 PM |
| Horseshoe Bay Texas Grows |
September 21, 2007 01:44 PM |
| Escondido |
September 21, 2007 01:43 PM |
| Horsehoe Bay Texas is SPECIAL |
September 21, 2007 01:42 PM |
| Texas Real Estate Undervalued |
September 21, 2007 01:40 PM |
| Horseshoe Bay Golf |
September 21, 2007 01:39 PM |
| Golf retirement emerging areas |
September 21, 2007 01:38 PM |
| Central Texas compares well to other high growth areas |
September 21, 2007 01:37 PM |
| Developments in Central Texas |
September 21, 2007 01:36 PM |
| Central Texas Real Estate Developments Planned |
September 21, 2007 01:34 PM |
| Texas Hill Country Medical Facilities |
September 21, 2007 01:33 PM |
| Horseshoe Bay Basic Services |
September 21, 2007 01:32 PM |
| Developments In and Around Horseshoe Bay Texas |
September 21, 2007 01:32 PM |
| Horseshoe Bay Resorts New Improvements |
September 21, 2007 01:31 PM |
| New Infrastructure in Horseshoe Bay and surrounding Areas |
September 21, 2007 01:30 PM |
| Horseshoe Bay Texas- New Momentum |
September 21, 2007 01:29 PM |
| New momentum in Horseshoe Bay Texas |
September 21, 2007 01:27 PM |
| Lake LBJ |
September 21, 2007 01:25 PM |
| Horseshoe Bay Texas and its real estate history |
September 21, 2007 01:24 PM |
| Horseshoe Bay and Sedona Arizona- How they compare |
September 21, 2007 01:23 PM |
| Where is Horseshoe Bay headed? |
September 21, 2007 01:22 PM |
| Escalating Home Values in Horseshoe Bay |
September 21, 2007 01:20 PM |
| Escondido and Skywater |
September 21, 2007 01:19 PM |
| Escondido and Skywater |
September 21, 2007 01:18 PM |
| Horseshoe Bay Real Estate Values Have Room to Grow |
September 21, 2007 01:16 PM |
| Horseshoe Bay Real Estate Value TODAY |
September 21, 2007 01:14 PM |
| Horseshoe Bay Resort Update |
September 21, 2007 01:13 PM |
| Horseshoe Bay Waterfront Lots |
September 21, 2007 01:11 PM |
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| SHoffman Properties, Sandy Hoffman |
| , Austin, TX 78738 |
| Phone: 512-300-1705 |
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