Forbes has named Austin as the most promising next tech hub. Los Altos, California, which is in the middle of Silicon Valley, is now the most expensive market in the country and real estate investors are looking for the next technology boom town.
Austin's young, highly educated population and large amount of venture capital, contributes to its top spot on the list. Austin's position as the "Live Music Capital" as well as its growing restaurant scene, make it attractive to tech industry professionals and companies alike.
Our city has 17 companies on the Inc. 5000 list and the Austin Technology Council forecasts that 9,000 new positions will be created in the tech sector by 2017. This explosive job growth helped Austin nab the 2nd spot on Forbes list of Best U.S. Cities for Future Job Growth.
Austin's real estate market is strong, landing it on lists like the Urban Land Institute (ULI) and PricewaterhouseCoopers' list of "U.S. Markets to Watch: Overall Real Estate Prospects" where it came in #2. The "Emerging Trends in Real Estate 2015 report ranked Austin as the number one market for homebuilding, second for investment, and fourth for development, siting its median real estate purchase price of $216,000 and high urban growth of 8.6 percent as strengths. ULI's report also said Austin's affordability is attractive to investors.