Why Austin dropped again in 2022 ‘best places to live in U.S.’ list

Households are on the lookout for affordability and, as of this 12 months, Austin just isn’t the place they’re going to discover it.

Austin is not among the many prime 10 greatest locations to reside within the nation, in accordance with an annual nationwide rating of cities by U.S. Information and World Report.

When you’re questioning whether or not rising dwelling costs within the space have something to do with it, the reply is sure.

Austin was ranked No. 13 out of the 150 largest metropolitan areas within the 2022-23 “Finest Locations to Stay in the US” listing. 

In earlier years, Austin constantly made its prime 10 of greatest locations to reside. The Texas capital was ranked No. 1 from 2017 to 2019, after which No. 3 in 2020 earlier than slipping to No. 5 in 2021. 

This 12 months, Austin fell behind such cities as Naples, Fla., Ann Arbor, Mich., and San Francisco. 

No worries, although. We’re nonetheless successful as the most effective place to reside in Texas. 

The information from the report was categorized into key elements together with job availability, housing availability, high quality of life and desirability, in accordance with the report. 

Metro areas within the rankings have been additionally evaluated utilizing information from sources together with the U.S. Census Bureau, the FBI and the U.S. Division of Labor. 

“A lot of the shakeup we see on the prime of this 12 months’s rating is a results of altering preferences,” Devon Thorsby, actual property editor at U.S. Information, mentioned in a press release. “Folks transferring throughout the nation immediately are placing extra emphasis on affordability and high quality of life than on the job market, which in some ways takes a again seat as distant work choices have turn out to be extra commonplace.”

In line with the report, Austin attracts transplants from different states, “partially as a result of Texas doesn’t have a private or company revenue tax.”

However dwelling costs have risen sharply.

“Austin affords a decrease worth than equally sized metro areas when evaluating housing prices with median family revenue,” the report states. 

The typical nationwide housing price in 2021 was $365,616. In Austin that very same 12 months, the typical was $504,273.

In January, the median dwelling gross sales worth was $550,000 inside the Austin metropolis limits. 

The typical median month-to-month hire is $1,326, and the median wage in Austin is $57,830, in accordance with the report. 

The Dallas-Fort Price space was the second-best place to reside in Texas, but it surely ranked No. 32 within the nation. Houston landed at No. 58, and San Antonio ended up at No. 83 nationally. Different Texas cities within the nationwide listing embrace Killeen (108), Beaumont (109), El Paso (124), Corpus Christi (133), Brownsville (134) and McAllen (138).

Austin’s total ranking

Desirability 6.9/10

• The Desirability Index measures whether or not individuals wish to reside in a given metro space. 

Worth 6.3/10

• The Worth Index, additionally known as the Housing Affordability Index, measures how comfortably the typical resident of every metro space can afford to reside inside their means.

Job Market 6.7/10

• The Job Market Index measures the power of every metro space’s job market.

High quality of Life 6.6/10

• The High quality of Life Index measures how glad residents are with their each day lives in every ranked metro space.

Internet Migration 7.4/10

• Internet Migration measures whether or not individuals are transferring to or away from every metro space. Whereas the Desirability Index measures whether or not a metro space is interesting, Internet Migration represents whether or not a metro space is definitely attracting new residents.

Austin American-Statesman reporter Natalia Contreras might be reached at 512-626-4036 or ncontreras@statesman.com. Observe her on Twitter and Fb, @NataliaECG.