International flavor

Homebuyers from these countries are making a move on the Austin market, says report

Austin aerial skyline with bridges and Lady Bird Lake

Buyers from Mexico and China are making a move on Austin.

Ryan Conine/Getty Images

Buyers from Mexico and China are scooping up single-family homes in the Austin metro area at a higher rate than homebuyers from any other countries, according to a new report.

The report, issued by the Austin Board of Realtors (ABoR), shows that from April 2020 to March 2021, Mexico and China were the top countries of origin for foreign homebuyers in the Austin area. Each country represented 14 percent of foreign homebuyers. Canada (6 percent) and India (6 percent) came next, followed by Armenia (5 percent).

Overall, international homebuyers pumped $634 million into the Austin-area economy during the one-year span covered by the report. That was well below the $800 million in sales racked up by foreign homebuyers in the pre-pandemic period of April 2019 to March 2020.

“Even though the Austin-area housing market hit historical highs in both sales volume and median price, international homebuying and selling activity slowed due to international travel restrictions and economic uncertainty abroad,” ABoR says in a news release.

Susan Horton, president of ABoR, notes that in the past year, international buyers demonstrated a preference for townhomes and condos for use as investment or vacation properties.

“Even in the midst of a global pandemic, international homebuyers continued to invest in residential real estate in the Austin area — a testament to the strength, popularity, and resiliency of our local housing market,” Horton says.

The $634 million spent by foreign homebuyers accounted for 3 percent of total sales volume, as measured in dollars, from April 2020 to March 2021. The median home price among foreign buyers was $428,100 — higher than the median sales price of foreign buyers nationally ($351,800) and the region’s median price ($320,000) during the period covered by the report.

“With the added job creation by major corporations such as Tesla, Amazon and Apple, Austin’s reputation as a global leader in tech innovation will only continue to grow,” Horton says. “The number of Central Texas Realtors who specialize in international real estate is growing equally as rapidly, and it will be exciting to see Austin’s impact on the international housing market as the world begins to open up again.”

reports

small city livin'

5 Austin neighbors lauded as best small cities in America

Explore Pflugerville/explorepf.com

Pflugerville ranked in the 86th percentile of small cities in America.

Living in the big city isn't for everyone, which is why many are flocking to the suburbs and less-populated cities around Austin. To demonstrate the popularity of suburban and rural communities, a new study by WalletHub has identified five Austin suburbs on their 2024 list of the "Best Small Cities in America."

The extensive report compared over 1,300 U.S. cities with populations between 25,000 and 100,000 residents based on 45 livability metrics across five main categories: Affordability, economic health, education and health, quality of life, and overall safety. Cities were grouped by percentile, where the 99th percentile encompasses the top one percent of small American cities.

A total 19 U.S. cities all qualified in the top 99th percentile of best small cities in America, but the top three that stood out above the rest were Carmel, Indiana; Brookfield, Wisconsin; and Lexington, Massachusetts.

Leading the pack as the best small city in the Austin area is Leander, which is just 25 miles northwest of downtown Austin. The suburb ranked in the 97th percentile and had the No. 2 best "economic health" rank out of all U.S. cities in the report. Leander also earned a No. 49 rank in the national "affordability" category.

According to the city's website, Leander has a population of more than 72,000 residents. The North Austin suburb has enjoyed some time in the spotlight this year after being crowned one of the most livable small cities earlier in 2024. Plus, Leander's 78641 ZIP code was revealed as one of the hottest housing markets in 2023.

Besides the cost-saving benefits of escaping a big city, there's a lot more to enjoy living in a smaller community like Leander, according to WalletHub analyst Chip Lupo.

"On top of that, the best small cities offer strong job markets, high-quality education, good health care, safe living conditions, and plenty of local flair to help you achieve a high quality of life," Lupo said. "While small cities may lack some advantages of big cities, like robust public transportation systems, they make up for these shortcomings in other areas."

The only other Austin-area city to rank in the top 90-99th percentile range was Cedar Park, which ranked 95th. Cedar Park is situated just south of Leander, 20 miles northwest of downtown Austin, and has a population of under 83,000 residents. This safe suburb is a popular choice for Austinites and out-of-towners alike, and it was praised as one of the best Texas cities to move to in March 2024.

exterior of Cedar Park Center Texans love Cedar Park. Courtesy of Cedar Park Center

Other Austin-area cities that appeared in the top 50th percentile of the best small American cities list include Pflugerville (86th), Georgetown (83rd), and Kyle (61st).

The best small cities across the Lone Star State
The highest ranking Texas city in the report is Rockwall, a suburb located less than 24 miles northeast of Dallas. The city appeared in the 97th percentile (the same as Leander) with its highest rankings in the "safety" (No. 61) and "economic health" (No. 91) categories.

Rockwall has a Census-estimated population of just under 53,000 residents as of July 2023. Its consistent growth has planted seeds for some new fan-favorite grocery stores, including a Sprouts Farmers Market, plus new restaurants and sports bars galore.

Two additional Texas cities appeared in the 90-99th percentile range: The Dallas-Fort Worth suburbs of Allen (96th) and Flower Mound (93rd).

The top 10 best small cities in Texas, based on WalletHub's data, are:

97th percentile – Rockwall and Leander (tie)
96th – Allen
95th – Cedar Park
93rd – Flower Mound
89th – New Braunfels
87th – Southlake
86th – Pflugerville
85th – Little Elm
83rd – Georgetown

The full report and its methodology can be found on wallethub.com.

dallas dallasfort worth suburbs rankings rockwall texas small cities suburbs wallethub