Austin, TX – U.S. Housing News — Every few years, a little-known city or town will start to get national attention, followed by rapid growth. Someone in the media will “discover” the place and write about it favorably. This puts it on the radar of folks who are looking to relocate. And before you know it, you have a population bubble. Such is the case with the Round Rock, Texas real estate market, as of 2010.
In July of 2009, the Census Bureau reported that Round Rock, Texas was the second-fastest growing city in the United States. New Orleans was #1 in terms of growth, but that city is in a different category altogether.
So you could say that out of all the cities in the U.S. that didn’t suffer a hurricane-fueled exodus, Round Rock is the fastest growing.
Rankings aside, we are talking about some serious growth. The population of Round Rock grew by 8.16% from 2007 to 2008, and the rate of growth has slowed only slightly in subsequent years.
So what’s driving this growth, and how does it affect the Round Rock real estate market? These are questions worth asking, because they make for a good case study in housing markets and population trends. Here are some of the factors that are attracting people to this Central Texas location:
Round Rock at a Glance
Home prices. By and large, Texas avoided the housing bubble that recently burst over the rest of the United States. From the late 90s to the early 2000s, much of the country was swept up by housing mania. Fueled by speculation (and a touch of lunacy), home prices shot up across the nation. But not so in Round Rock, Texas. Appreciation in that city could be described as slow and steady. As a result, the Round Rock real estate market is one of the most affordable in the country. For now, at least.
Bedroom community. Round Rock is located about 15 miles north of Austin, the state capital and the Live Music Capital of the World. And Austin has plenty to offer, from restaurants to recreation. Homeowners in Round Rock have the convenience of living close to Austin, without the cost of living in the city.
Infrastructure. It recently got a lot easier to drive to Austin from Round Rock. In fact, you don’t even have to drive. A brand-new MetroRail began running in March of 2010, and it links Austin to several stations located near Round Rock. Several new toll roads have also made north-and-south transportation a lot easier.
Media. In 2008, Money magazine listed Round Rock as the seventh-best American small city in which to live. In March 2010, Forbes magazine published a list of ten cities where the recession is easing the most. The Austin / Round Rock metro area tied for first place, along with the Washington DC.
This kind of coverage has put the city on the radar of relocation-minded people from all over the United States (especially Californians who cashed out before and during the bust).
Family Friendly. This phrase gets tossed around quite a bit in marketing pieces, but Round Rock truly measures up. The city offers solid schools, plenty of parks and rec, and one of the lowest crime rates in the country.
Attention home buyers: If you have questions about buying real estate in Round Rock, Texas, you can visit our main website. There, you’ll find hundreds of tutorials on the home-buying process.