The state capitol of Texas, Austin, is located on the eastern edge of Texas Hill Country and calls itself the "live music capitol of the world." The real estate market here is booming with new communities Springing up all around the city at varying prices depending on the size of the home and the neighborhood. Pre-owned homes have an average median price of $270,000 and spend approximately 54 days on the market while newly constructed home command prices in the $400,000 range.
Some of the most popular neighborhoods in Austin include Pemberton Heights, Mueller, Bryker Woods and Hancock. Pemberton heights is an upscale area consisting of larger, historic homes with classical architecture located along tree lined streets. Median home prices in this area are $1,125,000. In contrast, the master planned community of Meuller includes 140 acres of open space and offers primarily brand new homes at a median price of $485,000. More conservatively priced homes can be found in West Oak Hill which is a family oriented neighborhood offering lots of space, top ranked schools, and close proximity to Lake Travis. Homes in West Oak Hill have a median price of $291,000. Other affordable housing can be found in the neighborhoods of Holly, West Congress, South Manchaca and Garrison Park for median prices that range from $209,900 to $184,350 respectively.
With an unemployment rate of 3.3 percent compared to the national average of 5.5 percent, employment prospects in Austin, Texas are extremely good. The top employers in Austin are the University of Texas with 16,500 employees, Dell Corporation with 16,000 employees, St. David’s Healthcare with 6,200 employees, IBM with 6,000 employees and Apple with 3,000 employees. Austin is also the home of Samsung, 3M, AT&T, Facebook and Twitter. According to the Bureau of Labor Statistics, the average weekly wage in the Austin area is $1,027 and the average annual mean wage across all occupations is $48,150. As you can see, Austin offers a wealth of employment opportunities in a variety of industries along with an active real estate market that has something for everyone.