Billionaire entrepreneur Elon Musk appears to be Austin-bound. Popular podcaster Joe Rogan already has settled down here. But how many more folks are making the Capital City home during the coronavirus pandemic? The short answer: a bunch.
Data from job website LinkedIn indicates Austin is the main magnet for U.S. professionals seeking a new place to live, work, and play. For every person who moved out of Austin from April to October, 1.53 people moved in. LinkedIn analyzed the top cities that gained the most people based on ZIP code changes across its 174 million U.S.-based LinkedIn members, CNBC reported. The analysis examined the inflow-outflow ratio, which is the number of new arrivals to an area versus the number of people who left.
According to a LinkedIn report published in early December, top sources of new arrivals in Austin over the past 12 months were the San Francisco Bay Area, New York City, and Los Angeles. For every 10,000 LinkedIn members in Austin, 17.61 workers moved here in the past year from the San Francisco Bay Area. The rate was 11.8 for New York City and 8.6 for Los Angeles. At the other end of the spectrum, Denver gained the most workers from Austin over the past year (1.3 per 10,000 LinkedIn members in Austin), followed by Colorado Springs, Colorado (0.28), and Asheville, North Carolina (0.26).
Laura Huffman, president and CEO of the Austin Chamber of Commerce, said during a December 11 news conference that the region's much-heralded quality of life continues to draw people and companies (most notably software giant Oracle), and that the remote-work surge prompted by the pandemic has accelerated relocations to Austin.
“That quality of life is a winning characteristic time and time again,” Huffman said.
Elsewhere in Texas, Dallas-Fort Worth appeared at No. 7 on the LinkedIn list, with 1.35 people relocating there for every person who moved away. Places losing the most people were Hartford, Connecticut; the San Francisco Bay Area; and New York City, data shows.
The LinkedIn report from early December indicates that over the previous 12 months, DFW picked up the most new residents from New York City (4.5 workers for every 10,000 LinkedIn members in DFW), Los Angeles (3.7), and Chicago (3.2). Meanwhile, Austin attracted the most people from DFW (1.3 workers for every 10,000 LinkedIn members in DFW), followed by Denver (1.2) and Seattle (0.64).
Recent reports have lauded the sizzling economy in DFW, including the growth of tech jobs and commercial real estate opportunities.
“I think the DFW area will continue to be a center for growth once the pandemic is under control. The area offers a good mix of what companies are looking for, from workforce and infrastructure to a business-friendly climate,” Waco economist Ray Perryman said earlier this year.