If you’re thinking about making Austin home, whether through renting or buying, now’s a great time to jump in. A recent WalletHub report highlights Austin as the 12th best real estate market in the U.S., and even more impressively, the 3rd best among large cities. This ranking isn’t just a pat on the back—it reflects key factors like population growth, job opportunities, and housing affordability that continue to make Austin a hot spot for new homeowners.

WalletHub evaluated 300 cities across 17 different factors, including metrics like median home price appreciation, the rent-to-sale price ratio, vacancy rates, and more. Austin’s thriving tech sector, cultural appeal, and growing population have no doubt solidified its position among the top markets in the country. Austin’s ranking reflects the city's historical growth and its robust economy.

Additionally, Austin continues to expand its housing inventory, with over 21,000 new apartments expected to be completed by the end of 2024. This new construction supports the city’s future growth and provides more options for those not quite ready to buy.

How Does Austin Stack Up Against Other Texas Cities?

While Austin continues to shine, it's not the only Texas city making waves in real estate. The Dallas-Fort Worth metroplex is booming, with suburbs like McKinney and Frisco taking the top two spots nationwide. Both of these cities benefit from significant job growth, with McKinney in particular boasting one of the highest concentrations of recently built homes, giving buyers plenty of newer, more low-maintenance housing options.

Cities like Denton, Allen, and Fort Worth also performed well, all ranking within the top 30 U.S. real estate markets. Dallas, however, slid further down the list at No. 59. Still, Texas as a whole remains a real estate powerhouse, with eight additional cities making it into the top 100, including Richardson (No. 17) and Carrollton (No. 20). 

Larger markets like Houston and Arlington also earned places, though slightly lower on the list. San Antonio, Corpus Christi, and Laredo, however, saw lower rankings, reflecting the more varied growth and affordability dynamics across the state.

What Does This Mean for Homebuyers in Austin?

WalletHub analyst Cassandra Happe advises, “Factors like the cost of living, the potential for home values to rise, and the availability of recently-built homes should all be carefully considered. The best cities may not always be the cheapest, but they offer long-term stability.”

Considering Austin as your next home? Bell Real Estate is here to keep you informed about the latest market trends and opportunities, not just in Austin but across the region. With Austin's vibrant economy, growing population, and ever-expanding housing market, now might be the right time to explore your options.

For more insights on this WalletHub report, you can visit their full methodology here.