Austin Multifamily Market Report

Large-tech expansion drives demographic momentum. Among major markets, Austin ranks as the top metro for population growth and household formation relative to its size, as of March 2026. This growth is largely driven by relocation, with net migration accounting for roughly 85 percent of the population gain in 2025. Alongside this rapid inflow, Austin’s average household income rose by roughly $4,400, compared to $3,200 nationally as of March 2026, supported by continued job expansion. Nonfarm employment grew 1.3 percent year-over-year, while traditionally office-using sectors advanced 1.6 percent. These dynamics should continue to support sustained multifamily demand, particularly across higher-quality assets.