This year could be the last year of your life that the city of Austin population increases more than 2 percent. However, the same does not apply to the suburbs of the city.
New forecasts from the Austin Department of Housing and Planning suggest the city’s population will be 1,026,833 on April 1, up 2 percent from the same date in 2020. However, the projections continue to suggest Population growth of less than 2 percent per year through 2050. From 2022 to 2022, the forecast for 2026 points to an annual population growth of 1.25 to 1.45 percent in the city.
From 2006 to 2017, the city’s annual population growth ranged from its lowest (2.1 percent in 2008) to its highest (3.13 percent just a year later in 2009), according to the Department of Housing and Planning. The city of Austin measures population growth from April one year to April the next year.
Despite the influx of new businesses moving to Austin, the department expects the Austin metropolitan area’s population to grow 2.8 percent in 2021 (to 2,363,245 as of April 1), up from 3.05 percent in 2020 becomes. Population growth is forecast for the future, rising between 2 and 2.75 percent by 2050.
In recent years, suburban population growth has outpaced urban population growth in the area as the high cost within Austin city limits has displaced some home renters and buyers. From 2010 to 2019, Cedar Park (44.2 percent) and Round Rock (33.3 percent) were among the 15 fastest growing cities in the country, according to the US Census Bureau.
“I think we’ve seen a surge in the suburbs because the price of closer together homes has become inaccessible to many moving to the area,” said Vaike O’Grady, Austin regional director for housing data provider Zonda. “While everyone wants to live in Austin, sometimes Pflugerville or Buda are close enough. And there are a lot more medium-priced real estate holdings there. “
That trend is likely to continue as the Austin-Round Rock metropolitan area is in large part thanks to the resilient economy powered by high profile projects like the new $ 1 billion Apple campus and $ 1 billion new Tesla factory , Borne $ 1 billion, continues to attract new residents.
Data released by the Austin Chamber of Commerce on Jan. 26 shows the region ranks third among U.S. metropolitan areas after Salt Lake City and Indianapolis to lose the fewest jobs during the COVID-19 pandemic. Unemployment in the Austin area was 5.1 percent in December.
“Austin is a leader in Texas for economic resilience. Austin is better off deconstructing and facing our biggest challenges head on. Our strong local economy, quality of life and creative culture continue to attract families and jobs, “Austin Mayor Steve Adler said in a February 1 statement.