Further adding fuel to Austin’s fire, we recently learned that Central Texas is the 9th best place for a staycation. Ranked #9 on WalletHub’s annual list, the news couldn’t come at a better time. Even though COVID-19 restrictions are starting to lift, much of America is planning for a socially distant summer and thousands of professionals will work from home until the end of the year, meaning they could easily live in a rental property anywhere within the U.S.
With staying local made easy, Austin received high rankings for entertainment and relaxation, all at a nice price point. WalletHub compiled the list by comparing data across 15 key metrics from more than 180 cities. Researchers based their results on parks per capita, average home square footage, and the appeal of summer weather.
Scoring particularly high in the number of running trails per capita, here are some of our other favorite reasons to make Austin your choice for property investments.
Texas Hill Country
Young professionals and retirees alike are attracted to Austin’s accessibility to the nearby hill country. Within two hours of travel time, the perfect day trip awaits. Whether you drive north, east, south, or west, you’ll find spacious wineries with breathtaking views, unique and beautiful parks, lakes, and other natural beauties including, Fredericksburg’s Enchanted Rock.
Low Cost Entertainment/Best Dining
In Austin, we creatively adapt! In addition to spacious parks and swimming holes, our local businesses have pivoted and revamped strategies to appeal to residents who are looking for local activities, while remaining socially distant. For example, business is booming at area drive-in movie theaters. Dozens of wineries and the famed Antonelli’s Cheese Shop are hosting virtual wine and cheese tastings. Plus, residents benefit from an abundance of takeout food options, including local barbeque and Tex-Mex favorites, with Texas one of around 33 states currently offering to-go drinks.
Overall, home prices are rising, but have not topped out, which makes Austin the perfect spot for relocation or investment, even during the current global crisis. Yes, the pandemic has slowed growth in Central Texas, but it hasn’t even come close to completely halting development. The latest numbers from Austin Business Journal still show Central Texas as the fastest growing area in the country. COVID-19 will likely slow this growth, but we don’t expect a huge change in that national ranking.
In addition to Austin, two other Texas cities also reached top 10 on WalletHub’s list. North Texas is a hot spot with Plano ranked first on the list and Grand Prairie ranked 8th. All the more reasons to consider the Lone Star state for your next business venture.