The U.S. Census Bureau recently reported that Austin is among the three fastest-growing cities in the country, and seventh for number of residents increased between 2012-2013. Dynamic in so many ways—business and technology growth, area colleges and universities, world-famous music festivals, popular athletic events, year-round recreational activities, eco-friendly advances, diverse night life, and more—it’s no surprise that growth all around Austin is booming, especially in the Cedar Park and Leander areas. The data on these two cities is exciting. Of cities with at least 50,000 residents, the Census Bureau rates Cedar Park as the 4th fastest growing in the U.S., with a 5.6% population increase. Bursting with growth, its present population of over 61,000 grew 18.4% between 2010-2013, and an amazing 90.14% since 2000. Averaging an unemployment rate under 4%, a low rental vacancy rate, appreciating property values, and newly completed business developments, Cedar Park is a great city to live and invest. Leander is another desirable city in the Austin Metro area. In September the Leander and Cedar Park city councils both passed tax rates which will lower homeowners’ property tax rates for 2014-2015. According to the Bureau of Labor Statistics, Leander’s unemployment rate so far this year is 3.40%, the 4th lowest in Texas. Earlier this year the Austin Business Journal called Leander “ground zero for growth,” which isn’t surprising since it had a 20.6% population growth between 2010-2013, and an astounding 105.34% increase since 2000. Last December, The Milken Institute’s annual index of Best-Performing Cities announced Austin as the best-performing metro area in the U.S., weighing employment growth most heavily because of its primary importance to a city’s vitality. The Austin Metro is an exceptional place to work and a vibrant place to live, and because Austin is one of the fastest-growing U.S. cities, home values continue to increase, yet mortgage interest rates remain low. This makes Cedar Park and Leander great places to find a home—or even to become a landlord! Whether you want to purchase a home or an investment property, or even refinance an existing property, call us at 512-257-9836 for a free market or lease analysis, and to answer any questions you may have. Our office provides sales, leasing, property management, and mortgage services. You can also visit our website at www.smartsourcerealty.com .
It is a great time to be a landlord and have investment property in Austin and surrounding area. As many of you know, rents took a dive with the high tech bust in early 2000’s. Finally, fourteen years later, rents are at an all-time high. Austin continues to grow, and over 100 people are moving to the area daily. Since we manage many homes in the Cedar Park/Leander and Round Rock area, we did a lease analysis for these areas. We did a year-to-date rent analysis for 2014 and compared to 2013 using MLS leasing data. We analyzed average and median rents. Below is a chart showing leasing data for the Cedar Park/Leander area for single-family homes:
It is a great time to be a landlord and have investment property in Austin and surrounding area. As many of you know, rents took a dive with the high tech bust in early 2000’s. Finally, fourteen years later, rents are at an all-time high. Austin continues to grow, and over 100 people are moving to the area daily. Since we manage many homes in the Cedar Park/Leander and Round Rock area, we did a lease analysis for these areas. We did a year-to-date rent analysis for 2014 and compared to 2013 using MLS leasing data. We analyzed average and median rents. Below is a chart showing leasing data for the Cedar Park/Leander area for single-family homes:
