Houstonians prime checklist of renters transferring to Austin as costs soar

While Californian companies like Tesla and Oracle are giving up Silicon Valley in favor of central Texas, Texans more than Californians are driving the rental market.

AUSTIN, Texas – The largest source of potential tenants for Austin’s booming rental market comes from Houston, according to newly released data from Apartment List.

While Californian companies like Tesla and Oracle are giving up Silicon Valley in favor of Central Texas, Californians and people from other states aren’t high on the list.

According to the data, Houstoners accounted for a fifth of all Austin apartment searches from July 1 to September 30, followed by Dallas supporters at 12% and San Antonians at just under 10%.

San Francisco and San Jose accounted for about 2% of Austin apartment searches, while Los Angeles accounted for about the same percentage.

Data from Realtor.com showed that Travis County’s rental prices hit an average of $ 1,695 in September, higher year-over-year growth than any other tech hub including Boston, Chicago, Denver and Seattle. But the average Austin rental price was still cheaper than the other 10 locations, and well below the $ 3,450 price in San Francisco.

Austin property prices continue to rise as professional transplants choose to buy rather than rent. A report from Texas Realtors for the third quarter showed the average home price to be up to $ 465,000, up nearly 33% year over year.

The apartment list data also showed that Austinites looking to rent elsewhere are looking to San Antonio, with about 30% looking for apartments there, compared with 5% looking to Houston. Dallas residents now make up 14% of searchers in the Houston area, up from 8% last quarter.

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