Austin, TX
Indoor Things To Do In Austin – 40+ Fun Ideas For All Ages
Indoor Things To Do in Austin
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Whether you’re escaping triple-digit heat or staying dry during a rainy afternoon, Austin offers plenty of indoor fun for families, couples, and solo adventurers. From museums and arcades to live performances and immersive escape rooms, this list covers 60 of the best indoor things to do in Austin.
Editor’s Note: Our staff works hard to bring you the most up-to-date information. However, please note that all information is subject to change. As always, please verify with the organizer before making plans.
Free Indoor Places in Austin to Explore on a Budget
Staying entertained in Austin doesn’t have to cost a dime. These free and low-cost indoor spots are perfect for rainy days, hot afternoons, or spontaneous outings that don’t break the bank.
Austin Central Library
The Austin Central Library is a must-visit for anyone looking for fun indoor things to do in Austin, especially if you have kids with you. Explore six floors of unique architectural design, browse a massive collection of books and media, or attend one of the many engaging public programs and exhibitions.
Harry Ransom Center
The Harry Ransom Center is a fascinating museum on the UT Austin campus. You can escape the heat while exploring priceless literary and cultural artifacts, including one of the few Gutenberg Bibles in the world and the earliest-known photograph.
If you’re a fan of the arts and humanities, this place will be a gold mine of exploration.
Texas Capitol Tours
A free guided tour of the Texas Capitol building is an excellent indoor activity in Austin, providing a captivating look at the state’s political history and beautiful architecture.
It’s also a great way to escape the elements and learn about Texas heritage while exploring the ornate chambers, rotunda, and historical exhibits inside. The tour is especially great if you’re taking someone new to the city around.
Best Indoor Museums in Austin for Art, History, and Family Fun
Austin’s museums are home to world-class art collections, interactive exhibits, and rich Texas history. No matter if you’re a history buff or a fan of animals, you’ll find something to do solo, with kids, or on a date in these indoor cultural spots.
If museums are your vibe, explore even more options in our comprehensive guide to Austin museums.
The Contemporary Austin – Jones Center
The Contemporary Austin – Jones Center is a downtown art space that’s a fantastic choice for what to do in Austin when it’s hot.
You can escape the Texas heat and immerse yourself in thought-provoking, modern art installations and exhibitions that change frequently, providing a fresh and exciting experience with every visit.
- Where: 700 Congress Ave., Austin, TX 78701
- How much: $10 for adults | $5 for seniors and students/ educators w/ ID | Free for 18 and under, military w/ ID, and members | Free admission all day on Thursdays
Blanton Museum of Art
The Blanton Museum of Art is a premier destination for Austin indoor entertainment, featuring an impressive collection of European, Latin American, and contemporary American art. It offers a cool, quiet retreat to appreciate world-class masterpieces and fascinating rotating exhibitions.
Bullock Texas State History Museum
Image Credit: Bullock Texas State History Museum
The Bullock Texas State History Museum offers three floors of interactive exhibits that bring the state’s storied past to life. Kids and adults alike will love exploring the engaging displays, watching a film in the IMAX theater, or experiencing the multi-sensory Texas Spirit Theater.
- Where: 1800 Congress Ave., Austin, TX 78701
- How much: $15 for adults | $11 for seniors, military, and students | $9 for youth 9 – 17 | Free for kids 5 and under | Free admission on first Sundays of every month
Museum of Ice Cream
Image credit: MUSEUM OF ICE CREAM
The Museum of Ice Cream is a whimsical, interactive experience that makes for a great indoor date idea in Austin, either with a special someone, with friends, or with family.
It’s a playful and colorful escape from the ordinary, where you can take fun photos, jump into a pool of sprinkles, and of course, enjoy some delicious ice cream.
Texas Toy Museum
The Texas Toy Museum is an ideal rainy day activity in Austin for all ages, offering a nostalgic trip down memory lane. This charming museum showcases a massive collection of toys from different eras, from vintage video games to action figures, providing a fun and fascinating look at pop culture history.
Neill-Cochran House Museum
The Neill-Cochran House Museum is one of the most unique indoor places to go in Austin, offering a fascinating glimpse into the city’s past. This beautifully preserved historic home provides a cool, quiet retreat where you can explore period rooms and learn about the lives of early Texans.
Museum of the Weird
Ready to embrace your strange side? Step into the Museum of the Weird, one of the best indoor attractions in Austin for anyone seeking something truly different. Unlike traditional museums, this is a classic “roadside attraction” filled with oddities, strange artifacts, and creatures of cryptozoology like the famous Minnesota Iceman.
What makes it so unique is its authentic, old-school vibe and the live sideshow performance that comes with your ticket.
Museum of Illusions
The Museum of Illusions offers a unique and captivating experience. Unlike a typical museum, this one is completely interactive, encouraging you to step inside a collection of mind-bending optical illusions.
It’s a perfect spot to take fun, gravity-defying photos and get a behind-the-scenes look at how your brain can be tricked, making for an incredibly engaging and memorable outing for all ages.
Wonderspaces
Image credit: Wonderspaces Austin
For a truly out-of-this-world experience that will transport you out of the Texas heat, head to Wonderspaces. This is a constantly changing collection of interactive and immersive art installations from artists around the world.
What makes it unique is that you are invited to step inside the art, whether you’re walking through a kinetic light show or donning a VR headset, making it a playful, thought-provoking, and incredibly photogenic experience.
Top Arcades and Indoor Game Centers in Austin for All Ages
Looking for indoor fun in Austin that’s high-energy and low-hassle? These arcades and entertainment centers are perfect for families with kids, teens needing a break from the heat, or adults looking for nostalgic game-night vibes.
Cidercade Austin
Image credit: Cidercade Austin
Cidercade Austin is the perfect answer to the question of where to go in Austin when it rains. Here, you’ll find a massive arcade with hundreds of games.
The best part is that for a single admission price, you can play unlimited retro and modern arcade games, pinball machines, and more, all while enjoying a wide selection of ciders and other beverages.
Pinballz Arcade
Pinballz Arcade is a classic choice for fun indoor things to do in Austin. You’ll find a massive collection of new and vintage arcade games and pinball machines. You can spend hours playing games, from classic favorites to modern hits, and it is a great option for all ages.
High 5
Image credit: High 5 Austin
High 5 Austin is a premier entertainment center and is one of the best things to do in Austin indoors for all ages. Enjoy one-stop-shop for fun, featuring bowling lanes, a two-story laser tag arena, a massive arcade, and a full-service restaurant.
Main Event Entertainment
Main Event Entertainment is an ideal destination, especially if you’re with a group. This massive entertainment center features state-of-the-art bowling, a multi-level laser tag arena, and a huge arcade, providing a thrilling and action-packed way to spend a day inside.
Dave & Buster’s Austin
Dave & Buster’s combines a full-service restaurant with a massive arcade, making it the perfect place to enjoy a meal and then challenge friends to classic and modern arcade games. An afternoon here will never be boring.
- Where: Multiple locations in Austin
- How much: Varies
Highland Lanes
For a dose of classic nostalgia, head to Highland Lanes, the perfect spot for rainy day activities in Austin. This is a beloved “Old Austin” relic isa timeless, no-frills bowling alley that has been a community staple for nearly 50 years.
They also have some of the best burgers in the area over at Lebowski’s Grill.
Blazer Tag
Ready to get your adrenaline pumping while beating the heat? Head to Blazer Tag! It’s the largest one in Texas, with a massive three-story layout of ramps, bridges, and towers that makes for a thrilling, strategic game.
This beloved “Old Austin” institution offers an action-packed escape for everyone, from a solo challenge to a large group outing, complete with a classic arcade to keep the fun going.
Escape Rooms in Austin for Rainy Day Fun or Group Challenges
Looking for an adrenaline rush without leaving the building? Austin’s escape rooms offer immersive, themed experiences that challenge your problem-solving skills. These would be perfect for team-building, date night, or indoor birthday adventures.
The Escape Game Austin
The Escape Game Austin is a fantastic choice for an indoor family activity in Austin. You’ll have to divide into teams to work in a variety of themed rooms to solve puzzles and find clues, making it a perfect way to bond and have fun while beating the clock.
This is also an epic idea for a friends day out. Just make sure to make up in the end.
Escape Hour Austin
Escape Hour Austin is a top choice for Austin indoor entertainment, offering highly immersive and technologically advanced escape rooms. Their games feature automated puzzles and a unique hint system that keeps the focus on teamwork and a seamless, high-tech experience.
Project Panic
Gather your group and head to Project Panic, one of the most thrilling destinations for Austin indoor entertainment. This experience is known for its incredibly high-quality set design and a cinematic feel that truly immerses you in a high-stakes scenario.
With intricate puzzles and professional-grade props, you’ll be so engrossed in the storyline that the “panic” becomes a part of the fun as you race against the clock.
Theaters & Live Entertainment in Austin to Enjoy Indoors
Rain or shine, Austin’s vibrant performing arts scene delivers everything from improv comedy and independent films to live jazz and offbeat plays. These indoor venues are perfect for couples, creatives, and anyone who loves local entertainment with a cultural twist.
Alamo Drafthouse Cinema
Ready to escape the heat and settle in for a fantastic film? Look no further than Alamo Drafthouse Cinema.
Here, there will be no distractions from the cinematic masterpiece you’ve queued up to watch with their famous “no talking, no texting” policy. You can even get a full meal and a craft beer delivered right to your seat.
- Where: Various locations in Austin
- How much: Varies
The Hideout Theatre
For a night of spontaneous fun, head to The Hideout Theatre, an unmissable destination for indoor activities in Austin. The Hideout specializes in improvisation, with shows created on the spot based on audience suggestions.
It’s a truly interactive experience where every performance is a one-of-a-kind event, guaranteeing a night of fresh and unpredictable laughter.
Paramount Theatre
For a truly glamorous night out, visit the historic Paramount Theatre, one of the best indoor attractions in Austin. This beautifully restored landmark from 1915 is sure to transport you to a bygone era of entertainment.
The Paramount hosts an incredible variety of shows, from stand-up comedy and live concerts to classic films and Broadway productions, all under its stunning, ornate ceiling. So, every week, you’ll have something new to look forward to.
Violet Crown Cinema
Looking for a more intimate and sophisticated movie night? Violet Crown Cinema is a perfect indoor date idea in Austin, offering a luxurious and distinct alternative to mainstream theaters.
Its unique features include reserved, stadium-style seating with plenty of legroom, a full bar and lounge, and a thoughtfully curated selection of independent, foreign, and documentary films.
Elephant Room
For a truly authentic and soulful night out, head to the Elephant Room, a legendary spot for Austin indoor entertainment.
This cozy, intimate jazz club tucked away in a downtown basement is the perfect place to escape the city noise and immerse yourself in the rich sounds of live jazz, with a focus on local talent and a low-key atmosphere that feels like a true Austin secret.
Indoor Sports & Recreation in Austin: Climbing, Skydiving, and More
Beat the heat without slowing down. These indoor sports and adventure spots in Austin offer everything from bouldering and axe throwing to virtual skydiving. Great for active families, date nights, or anyone who needs to move rain or shine.
Austin Bouldering Project
Image Credit: Austin Bouldering Project FB Page
Ready for a challenge that’s both fun and physically engaging? Look no further than Austin Bouldering Project, a fantastic option for fun indoor things to do in Austin. This is one of the largest bouldering-only gyms in the world, with walls and routes for every skill level.
It also offers a low-pressure, social atmosphere since there are no ropes or harnesses required, making it an incredibly accessible and welcoming spot to try something new and exciting.
- Where: Multiple locations in Austin
- How much: Varies by package
iFLY Indoor Skydiving
Ever wanted to fly? iFLY Indoor Skydiving makes it a reality, offering one of the most thrilling indoor family activities in Austin. Here, you’ll experience the exhilarating sensation of freefall in a state-of-the-art vertical wind tunnel, all with the guidance of a certified instructor.
Axe Escape Austin
Image credit: Axe Escape – Axe Throwing Austin
For a high-tech twist on a classic activity, head to Axe Escape Austin, one of the most fun indoor things to do in Austin. This venue stands out for its state-of-the-art interactive projected targets, which allow you to play a variety of games like Tic-Tac-Toe and Zombie Hunter while you throw.
You can also test your precision with a unique selection of throwing tools beyond just axes, including tomahawks and even ninja stars.
Dirdie Birdie
For an experience that’s a perfect blend of fun and sophistication, visit Dirdie Birdie, a high-design masterpiece with 12 wildly creative holes, each an artistic installation in its own right.
What makes it truly unique is how it combines this visually stunning course with a craft cocktail bar and a chef-driven menu, making it an ideal spot for a date or a fun night out that’s as delicious as it is playful.
Creative & Educational Indoor Activities in Austin for All Ages
From art workshops to hands-on science, Austin offers plenty of enriching indoor activities that are both fun and educational. This is the perfect idea for bonding with the kids, friends, or even a date.
Thinkery
For a truly fun and educational day with the kids, head to Thinkery, the perfect destination for Austin indoor family activities. Unlike a traditional museum, Thinkery’s focus is entirely on hands-on, play-based learning in STEAM (science, technology, engineering, art, and math).
Here, kids can splash around in the water lab, build amazing creations in the Innovators’ Workshop, and explore ever-changing exhibits that encourage them to learn by doing. It’s a place where both children and adults can get their hands dirty and have a blast discovering something new together.
Cordovan Art School
Image credit: Cordovan Art School
Cordovan Art School is a fantastic option for indoor places to go in Austin that offers a relaxing and unique experience. Here, the focus on making art accessible for everyone, with a wide range of walk-in workshops and classes for both adults and children.
It’s the perfect place to explore your creative side, learn a new skill like painting or pottery, and leave with your own beautiful creation—no long-term commitment required.
Board & Brush Creative Studio
For a unique and memorable outing that goes beyond dinner and a movie, consider Board & Brush Creative Studio, one of the best indoor date ideas in Austin. This studio offers a fun, instructor-led workshop where you and your partner can create a rustic, farmhouse-style wooden sign to take home.
It’s also completely beginner-friendly, and you’re encouraged to bring your own bottle of wine to sip on while you paint, making for a relaxed and creative evening you’ll both love.
- Where: Multiple locations in Austin
- How much: Varies
Ceramic Lodge
Ceramic Lodge in Round Rock is the perfect answer for rainy day activities in Austin. What makes this spot so special is its vast, walk-in friendly studio filled with an incredible selection of pre-made ceramics—from mugs and figurines to home décor—all ready for you to paint.
It’s a wonderfully therapeutic experience where you can simply pick your piece, choose your colors, and get lost in the joy of creating a personalized masterpiece.
Book People
For a relaxing and enriching day, get lost in the shelves of BookPeople. It’s Austin’s largest independent bookstore and a true literary hub. What makes it so unique is its vibrant community atmosphere, with a packed calendar of author events, readings, and a cozy cafe where you can sit and read.
Bars, Breweries & Indoor Fun for Adults in Austin
Enjoy a bunch of adult fun like never before with Austin’s wide variety of indoor activities just for adults. Sip craft brews, throw axes, compete with your friends in escape rooms, and more. Check these out for nights out, low-key afternoons, or simply dodging the weather in style.
The Brewtorium
Image credit: The Brewtorium Brewery and Kitchen
For a lively and welcoming spot to spend an afternoon or evening, head to The Brewtorium, a top choice for Austin indoor entertainment. This full-fledged brewpub has a scratch-made kitchen that offers a delicious menu of modern pub fare to complement its award-winning beers.
Its large, open hall and communal-style seating create a vibrant, social atmosphere that’s perfect for groups. It even has axe throwing on-site, making it a one-stop shop for food, drinks, and fun.
The Roosevelt Room
For a truly sophisticated evening , step into The Roosevelt Room. Here, you’ll go on a journey through the history of the cocktail. Its unique, 150-drink menu is a living timeline of mixology, with each drink representing a different historical era.
The atmosphere is also elegant and inviting, and with their highly knowledgeable staff, you’ll not only enjoy an expertly crafted drink but also learn its fascinating story, making for a memorable and educational night out.
Wonder Bar
When the weather turns, head to Wonder Bar, a vibrant, immersive wonderland designed for social media and pure fun. What makes it truly unique is its series of wildly creative, themed rooms and interactive installations, from a glowing disco wall to a vibrant ball pit.
Cape Bottle Room
Image credit: Cape Bottle Room
For a truly unique and intimate evening, consider Cape Bottle Room, a perfect indoor date idea in Austin. What makes this cozy spot so special is its exclusive focus on South African wines, making it the only place in the city where you can discover a curated selection of these fantastic and often-overlooked vintages.
Looking for fun things around ATX? Check out our weekly updates with the best picks for Things to Do in Austin this Weekend — all curated by a local.
Travel on your mind? Check out Indoor Things to Do in Houston and Indoor Things to Do in San Antonio!
Lacey is a freelancer and Austin local who’s always on the hunt for new restaurants to try, fun activities to do, and local events to attend. She loves sharing her discoveries with others through her writing and hopes her work encourages both visitors and locals to be active in the community. When she’s not writing, you can find her exploring one of the city’s many hiking trails with her Blue Heeler, Oreo, getting lost in a good book, or dancing the night away to some house or techno beats at one of her favorite rave spots.
A long holiday weekend and America’s 250th birthday are giving Central Texans even more reasons to celebrate this Fourth of July. From fireworks over Lady Bird Lake and Willie Nelson’s annual picnic to hometown parades and rooftop parties, there are plenty of ways to spend the day around the Austin area.
Here’s a look at some of the biggest events, from Austin’s signature Star-Spangled Fest to neighborhood traditions and Hill Country celebrations. Unless otherwise noted, all events take place Saturday, July 4.
The main events
Star-Spangled Fest
Auditorium Shores & Long Center, 900 W. Riverside Dr.
Austin’s signature Fourth of July celebration stretches from morning to night as the city marks America’s 250th anniversary. The day begins with The Morning Spin from 10 am to 1 pm, featuring house music, craft coffee, cocktails, local vendors, and food trucks. The evening festival returns at 4:30 pm with kids’ activities, food trucks, and performances by Austin soul-funk favorites Tomar & the FCs, country singer Shelby Stone, a Veteran Recognition Celebration, and the Austin Symphony Orchestra’s annual patriotic concert before fireworks over Lady Bird Lake at 9:45 pm. The concert and fireworks will also be simulcast on KMFA 89.5. A number of parking garages are open around the park. General admission is free. VIP Lawn Access starts at $45, while reserved tables and private cabana experiences range up to $2,500. Tickets and VIP packages are available through the Star-Spangled Fest website.
Several downtown hotels and rooftops are offering elevated alternatives to the crowds below along Auditorium Shores.
- P6 at The Line Austin is hosting its “Creole Surf Riot” celebration with live music by Louisiana Surf Department, Creole-inspired food stations, and two complimentary drinks. Early bird tickets start at $75, with general admission at $90.
- The Loren at Lady Bird Lake is celebrating with a waterfront barbecue, curated beverages, and live music by Working Title. Reservations are available from 6-10 pm, with the band performing from 6-11 pm. Admission is $98 per person, plus a 17 percent gratuity. The hotel recommends making reservations in advance, as last year’s Fourth of July celebration sold out.
- Otopia Rooftop at The Otis Hotel in West Campus is hosting a Fourth of July party from 7 -11 pm, featuring specialty cocktails with Still Austin Whiskey Co., a complimentary welcome cocktail, light bites for purchase, and giveaways. Tickets start at $23.18. The rooftop offers skyline views, though organizers note the downtown fireworks display is not visible from the venue.
Willie Nelson’s Fourth of July Picnic
Germania Insurance Amphitheater, 9201 Circuit of the Americas Blvd., Del Valle
Fresh off his 93rd birthday, Willie Nelson returns to Circuit of The Americas for the latest edition of his annual Fourth of July Picnic, a Texas tradition spanning more than five decades. This year’s lineup features Willie Nelson & Family, bluegrass phenom Billy Strings, alternative rock legends Wilco, Rock & Roll Hall of Famer Sheryl Crow, Lukas Nelson, Stephen Wilson Jr., Rodney Crowell, Margo Price, and Lily Meola. The evening concludes with fireworks. Gates open at 2:30 pm and music begins at 3:30 pm. Most tickets are priced around $100, with options ranging from reserved seating to pit tickets and VIP packages. Tickets, VIP packages, and the full event lineup are available on Willie Nelson’s official website.
Hill Country Galleria Independence Day Festival
12700 Hill Country Blvd., Ste. T-100, Bee Cave
Families looking to avoid the downtown crowds can head west for one of the area’s biggest free celebrations honoring America’s 250th birthday. More than 40 artisan vendors, carnival rides, water games, and complimentary face painting fill the afternoon before an evening of live music. School of Rock opens the entertainment at 4 pm, followed by CAZAYOUX, Jeska Forsyth, Jo James, and Austin Latin rock veterans Vallejo. Then fireworks complete the event. Attendees are invited to bring a lawn chair or blanket. The festival runs from 4-10 pm, with fireworks scheduled for about 9:40 pm. Admission and parking are free.
Red, White & Buda
Buda Amphitheater & City Park, 204 San Antonio St., Buda
Buda turns Independence Day into an all-day celebration, beginning with the community’s annual Bike Parade at 9 am. Festivities resume at 4 pm with a DJ, bounce houses, a splash pad, food vendors, a vendor market, cornhole, sand volleyball, and rock climbing. Live music begins with Elle Townley at 6:30 pm, followed by Shinyribs, the Gulf Coast soul and swamp-funk band led by former Gourds frontman Kevin Russell, at 7:40 pm. The evening concludes with fireworks at about 9:15 pm. Admission is free.
Free neighborhood parades and hometown traditions
Northwest Austin Civic Association
Austin’s largest neighborhood Independence Day parade happens in the North Austin Civic Association, at the 53rd annual Fourth of July Parade and Freedom Fest. The festivities begin with a community breakfast at 7:30 am, followed by the parade at 9 am. Austin Mayor Kirk Watson will serve as grand marshal as decorated bicycles, antique cars, marching bands, community groups, and the popular Ladies Lawn Chair Brigade wind through Northwest Hills before the Freedom Fest continues with family activities.
Members of the Northwest Austin Civic Association’s Arm Chair Brigade gather with parade grand marshal Council Member Alison Alter before the neighborhood’s annual Fourth of July parade in Northwest Austin.Alison Alter/Facebook
Cedar Park
Cedar Park’s Sparktacular returns to Milburn Park with live music, carnival rides, inflatables, food trucks, and fireworks at 9:30 pm.
Georgetown
Georgetown’s celebrations last all day with amusement rides and games, a kiddie parade, arts and crafts booths, food vendors, live music, and a fireworks show to round it all out.
Lakeway
Lakeway’s Fourth of July Celebration begins with its annual parade at 8:30 am, followed by family activities before the city’s evening fireworks display.
Leander
Leander is getting things started early with Liberty Fest on July 3. There will be live music and food, plus activities for kids and fireworks to end the day.
Pflugerville
Pflugerville’s Pfireworks lights up Typhoon Texas with live music, food vendors, family activities, and one of the area’s largest fireworks displays.
Round Rock
Just north of Austin, Round Rock’s Frontier Days begins with the annual Sertoma Independence Day Parade at 8:30 am along Mays Street. Giant helium balloons, festive floats, marching bands, and community groups kick off a full day of carnival rides, pig races, live music, and festival food before the evening’s fireworks show.
America250
Want to keep celebrating America’s 250th birthday? The Fourth of July is only the beginning of the nation’s yearlong semiquincentennial celebration.
Texas America250 exhibit
Lorenzo de Zavala State Archives and Library Building, 1201 Brazos St.
This exhibit next to the Texas Capitol spotlights the Lone Star State’s outsized role in American history through historic photographs, maps, artifacts, sheet music, state records, and other treasures from the State Archives. From cowboys to astronauts, and from Beaumont to Big Bend, the exhibit explores how Texas helped shape the nation. The exhibit is on view throughout 2026.
Other things to see at the archives include:
For even more, the Texas America250 events calendar lists celebrations taking place across the state throughout the year.
“We’re thrilled to expand our relationship with the team at NRP and our focus on the Affordable Housing market in
The transaction represents Safehold’s second transaction with NRP in
Safehold established a dedicated Affordable Housing team in 2025 and has continued to expand its investment into the sector. Additional information is available at www.safeholdaffordablehousing.com.
About Safehold:
Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at www.safeholdinc.com.
About The NRP Group:
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 62,000 apartment homes and currently manages over 30,000 residential units. Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing. The NRP Group has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and has won three NAHB Pillar awards since 2020 for Development, Construction and Ones to Watch. The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/safehold-closes-second-affordable-housing-ground-lease-in-texas-302809796.html
SOURCE Safehold
AUSTIN (Nexstar) – During a Texas Senate Business and Commerce hearing Wednesday, lawmakers heard invited testimony examining soaring property and casualty insurance costs. Testimony focused on the need for more affordable options and the need to address the role of AI.
Increased costs
Amanda Crawford, the Commissioner of Insurance at the Texas Department of Insurance (TDI), acknowledged the reality of rising insurance costs for everyday Texans.
“The past few years have been very, very difficult. The average annual homeowner premium in Texas has increased from under $2,000 in 2020 to over $3,500 today. It’s a 79% increase in six years. That is a tremendous burden for Texans, especially for a necessary product like home insurance,” Crawford told lawmakers Wednesday.
Crawford went on to clarify that this increase can be attributed to increases in home values and claim costs related to severe weather.
“Annual homeowners’ losses averaged 5.5 billion from 2015 to 2020, rising to 9.1 billion from 2021 to 2025.” Crawford went on to say that “Last year alone, the National Weather Service recorded 902 hailstorms in Texas. The next closest state, Kansas, had 375.”
Holding insurance companies accountable
Crawford clarified that the TDI requires insurance companies to elaborate on their filings to ensure that Texans are not subject to unfair practices and prices.
“My expectations are that every rate filing submitted to TDI gets a careful review. We examine every statutory filing for statutory compliance. We verify the math, we scrutinize assumptions, we make them show their work”
According to the Texas Insurance Code, the rate review process conducted by the TDI does not explicitly focus on affordability.
“There is not a purpose in there around affordability. It is about driving market competition. It’s about making sure they’re not excessive, but then they’re also adequate. And it’s about having market forces drive the rates that are filed. So I think that’s an interesting perspective when you look at it, because that really frames the whole rate review process as it has been put into law.”
Insurance company officials say they are also focused on affordable costs.
“Our industry is not just saying, hey, legislators go fix all this. We are working all the time to bring down costs. It’s a good business decision because it helps us be more competitive,” said Scot Kibbe, the Vice President for State Government Relations at the American Property College for Insurance Association.
Concerns of price surveillance
Senator Nathan Johnson, D-Dallas, questioned whether insurance companies may be using technological advances, such as AI, to participate in price surveillance, a tactic to maximize profits.
“It sounds like, to some extent, every industry, with the advent of technological advantages we didn’t use to have, is able to create a special price just for you to find out your breaking point,” Johnson said.
David Bolduc with the Office of Public Insurance Counsel noted that there are protections in statute against companies charging different prices for the same coverage. But he added that the practice can be difficult to detect.
“I don’t know that TDI has the ability to monitor that. I mean, we hear about it,” Bolduc said in response to Johnson. “I think, if you could do something in statute that would allow us to report it, or would allow TDI to take action about it, that might be useful in terms of monitoring it,” Bolduc added.
Earlier this month, the TDI released a “use of artificial intelligence” bulletin to set expectations on how “regulated entities will govern the development, acquisition, and the use of AI technologies in their operations.”
Crawford says this bulletin will help address price surveillance concerns by reminding companies of Texas Insurance codes related to unfair discrimination and deceptive practices.
“That’s one of the reasons for putting out the AI bulletin, the expectations and the consumer protection around the use of that data, and what they are using that for,” Crawford said.
Potential solutions
Bolduc called on lawmakers to reexamine AI’s role in the industry. He also asked lawmakers to look into making coverage changes more transparent.
“It might be useful to continue looking for ways to be transparent about coverage changes. Notices of material change don’t seem to be working particularly well in the sense that we get a lot of phone calls from people saying they don’t understand what happened to them,” Bolduc said Wednesday.
Billy Crocker, Senior Vice President of Alliant Insurance Services, says the best way to fix pricing is to drive up competition between insurance companies.
“I think creating a lot of competition is the best way to drive this down, both for personal and business lines,” Crocker told lawmakers. “And then that brings the opportunity for access.”
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