Can I Get a Job in Austin?
Most likely, yes. Did you know that Austin is the nation’s fastest-growing major metro? People across the United States are flocking to the city. Whether they’re in search of a better quality of life or cheaper cost of living, the city has it all. But did you also know that job growth in Austin is one of the primary reasons people choose to relocate here? Many real estate agents in Austin help young professionals relocate due to the job growth!
Working in Austin is a hot topic as the Texas job market has many jobs in different industries. Austin also has a nickname: Silicon Hills. If you work in tech or you are interested in start-ups, there are so many opportunities and a ton of employment growth. If you want to learn all about what the Austin job market will look like in 2022, keep reading.
Current Employment Outlook in Austin
To understand where things are heading, let’s take a look at the Austin job market in 2021. Austin has recently emerged as a hotspot for commercial real estate investment. National conglomerates are choosing to invest storefronts in the capital as there is a high return on investment. The city has also become a magnet for out-of-state corporate relocations.
As an emerging city, rental prices aren’t relatively as high as some of the bigger cities. Thus, many tech giants are opening up branches in Austin in anticipation of the city’s growth. Apple has invested over a billion dollars in their Austin campus in addition to the billions of dollars they have committed to investing across the United States.
The movement of large companies in major industries to Austin has, of course, skyrocketed the number of available jobs in the city. The main types of jobs available are real estate, tech, and finance, although other industries are beginning to grow in Travis County, Hays County, and Williamson County.
2022 Austin Employment Forecast
What can you expect of the Austin job market in 2022?
Well, the city will continue to grow, and with economic growth comes employment opportunity too.
Austin Outperforms Most of the Country
Projections report that there will be over 740,000 total jobs by the beginning of 2022 in Austin. As the year progresses, more jobs will be made available. Austin is well beyond the national average when it comes to employment. Austin ranks 11th out of the 50 largest cities in the United States in employment growth. Last year, Austin ranked 8th out of the 50 largest metro areas for unemployment rates, holding steady between 4.2 and 4.6% over the previous year.
Growth in Construction, Natural Resources, and Tech
As the capital city of Texas, Austin has sizeable government jobs, so there will be growth in that department. In addition, Austin’s private sector growth will likely increase by 10%. Additionally, there is projected to be significant growth in the construction and natural resources industry. These are the fastest-growing jobs available in Austin currently as well.
However, there are a couple of other sectors that are projected to increase as well. The primary industries expected to skyrocket are:
- Transportation, warehousing, and utilities
- Financial activities
- Information technology
- Manufacturing
There are a couple of industries that are expected to slow down their growth. This means that the number of jobs available in these sectors will also reduce.
Leisure and hospitality, education and health services, and retail and trade sectors are projected to see a slight dip in 2022 in Austin, Texas.
Affordable Cost-of-Living
While the real estate market in Austin is competitive, I-35 runs through Caldwell County, Bastrop County, San Antonio, and other surrounding areas where the cost of single-family homes is closer to the national average than properties in Austin. Mortgage rates (as of this writing) are suitable for first-time home buyers and those who plan to invest in real estate.
Mortgage Rates in Austin, TX as of November 5th, 2021
| 30 Year Fixed | 3.11% | 0 % |
| 15 Year Fixed | 2.45% | 0.01% |
| 5/1 ARM | 2.56% |
Job Growth in Austin Is Increasing by the Day
Are you interested in moving to Austin? Well, it has never been a better time to make a move!
The city is booming, and the job growth in Austin is skyrocketing as well. The city has become a hot spot for commercial real estate investment and corporations looking for a new high-tech hub.
Are you ready to sell your house and move to Texas right now? Click here to schedule custom HDReal images for your home today!
