Blogs

Austin is rapidly becoming a top destination for high net worth individuals and high-tech companies. The city’s appeal goes beyond its live music scene, encompassing a dynamic economy, affordable housing, and a high quality of life.

Recent migration trends show an influx of young families, high earners, and billionaires choosing Austin, which was named the 2024 Best-Performing Large City in America.

I wrote a thoroughly researched article on this phenomenon and why Austin is No. 2 in the world in terms of percent growth of HNW households. The graphs and tables tell the story—I won’t recopy them here but please check out the full article by clicking here.

Key Highlights

• Migration Trends: Texas leads the nation in population growth, particularly attracting high earners from states like California and New York.
• Economic Boom: Austin’s economy is thriving with substantial investments from tech giants like Apple, Oracle, Samsung, and Tesla, creating a surge in high-paying jobs.
• Affordable Housing: Compared to high-cost cities, Austin offers more affordable housing options, enabling people to maintain a better quality of life.
• No State Income Tax: Texas’ lack of personal state income tax makes Austin even more attractive to high earners.
• High Quality of Life: With over 300 sunny days a year, a vibrant cultural scene, and abundant outdoor activities, Austin provides an exceptional living experience.

Austin's growth is set to continue, making it an ideal location for those seeking new opportunities and a higher standard of living. Whether clients are considering a move for better career prospects, more affordable housing, or a vibrant lifestyle, Austin has much to offer.

For interesting graphics and links to recent international studies, click here: Why Austin Attracts Millionaires & High-Tech Companies.