Best Areas for Millennials to Buy a Home in Austin
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You’ve finally decided to move to one of the best cities in Texas. So as one of the best Austin area movers, we would like to help you find the best areas for millennials to buy a home in Austin. Many millennials are moving here in general since the cost of living is lower than in other states. It’s also essential to find the right neighborhood that will correlate with your needs and be close to your work. Fortunately, you’ll be surprised to see how many good areas are there in Austin. We’ve found six different areas so anyone can find the perfect home in correlation with the finances, and the esthetics, together with other needs. So let’s dive in and find the right area just for you.
Downtown Austin is one of the best areas for millennials to buy a home in Austin
This area of Austin has close to 12, 000 people. It’s one of the most popular places for young people. It makes sense because this is an urban lifestyle zone with a lot of fancy restaurants and bars. The nightlife is excellent and most young people rent their houses here. The majority of the population tends to be liberal here. Also, many people will tell you that Northern and South Austin are like different cities and one of the reasons is prices. So, you shouldn’t expect cheap prices here as the median for rent is $2,716 as of October 2022. That’s a 7% increase since the last year and it’s not that enough, regarding other prices in 2022.
As you know, post-pandemic inflation is probably going to further increase the prices of the housing market and the price of rent. Now if you want to buy a house, that’s a bit more expensive, the median price is $832,000 which is a lot. The price has increased by a whopping 17.1% since last year. One of the main factors is that a lot of people are moving from California here. We as North Austin movers know this, and you’ve probably heard about this before. People are fleeing California because it’s one of the most expensive states to live in after Hawaii. We’ll just tell you that the median household income is $138,795 in Downtown Austin while the national average is $78,075. If you have this in mind, relocating here and buying a house can be perfect for you as a millennial.
There’s no place like Old West in Austin
Old West has that more traditional but at the same time “younger” vibe in it. That’s one of the many reasons why millennials like it so much. Another reason is that this place is full of parks, there are a lot of recreational areas and walking and biking trails. One extra thing is that it’s near the West Campus of the University of Texas. So you can meet a lot of young talented students. Now the population of the Old West is around 4,000 people so there’ll be no hustle and bustle. Many local moving companies Austin TX has to offer have seen a rise in demand as more people are pouring in from all sides. If this is not enough for young people to come here, wait until you hear about the cost of living and housing prices.
When it comes to renting, the median price for a one-bedroom apartment is $2,070 per month. This is great for those who are renting since these prices have come down by 4% since last year. Now, according to the local real estate website Realty Austin, the median home price in Old West, Austin is $1,200,000; which is a 10% increase since last year. So, as we’ve previously discussed, this is due to many factors, such as housing prices have increased because of inflation, people moving from California, more job openings, etc. The cost of living is 29% higher than the national average and 40% higher than the average cost of living in Austin. But you can walk everywhere, it has an urban lifestyle and it has a lot of green spaces. With trees and parks, it’s a house from the American dream.
Bouldin Creek is a dream come true
Living costs in this millennial neighborhood have increased in price by over 26% since last year. So the median rent price is $2,895 per month, and this part of Austin is crawling for young professionals. The median home price is $1.3M which means that on average the price of square ft. is $836. But this part of Austin has on average 36.9% year-over-year increase in housing. You won’t expect it to be as urban as Downtown, but it’s still full of remote-working millennials, freelancers, and commuters. At least you’re not too far from Downtown Austin. It is only 7 minute drive. When compared to other parts of the state, in Austin, and especially Bouldin Creek and Downtown, there aren’t so many traffic jams as in Los Angles, Miami, or New York.
In most parts of Austin, people like to walk and ride bikes. This is a big advantage of this area in Austin and the city as a whole. But since there are not such heavy traffic jams, you should think about moving there. If you’re moving your whole apartment or a house here, think about hiring moving professionals. For example, if you pick Bouldin Creek, think about hiring the best movers South Austin has to offer. They’ll know how to professionally avoid traffic jams and how to navigate safely. You don’t want to rent some junior moving company with unreliable drivers who will wreck all of your belongings.
Meet Bouldin Creek’s best friend Zilker
Since this is the west neighbor of Bouldin Creek, the story is somewhat similar, but it’s also different. This is also one of the best areas to move to for college students in Austin. It has a great Zilker park and some of the best restaurants in the whole of Austin. For example, you can find one of the best vegan restaurants here called Casa de Luz Village. So, if you’re looking for vegetarian and vegan specialties, as well as wellness programs, you can visit this place. Around Zilker, you can find many restaurants, wellness centers, conference meeting rooms, and other buildings of this type. Yet another place popular among millennials is Auditorium Shores at Town Lake Metropolitan Park. This is a popular green area with an off-leash dog zone and it’s perfect for dates and picnics.
When it comes to the cost of living, it’s 34% higher than the national average; and it’s 46% higher than the Austin average. The housing prices on the other hand are 122% higher than the national average, so the median house price is $870,000. This is a 17% increase since last year. But the good news is that the state of Texas doesn’t have an income tax, while the general taxes are 23% higher than the national average. With the rent of $2,287 per month, maybe it is the best area for millennials to rent, and it’s also the best place to buy a home since the price is below $1M. If none of these fit your description so far, maybe you should take a look at some other South Austin neighborhoods and find one of the best areas for millennials to buy a home in Austin.
The Hollywood of Austin, Westlake
This is the Hollywood or Beverly hills of Texas. Westlake is a luxurious place with many villas scattered across the West lake hills, with a median price of $1,725,500. Prices here have increased by 15% since the last year. This place is populated with young professional “high rollers” mostly from the tech industry, senior IT engineers, managers, executives, etc. Surprisingly, the average rent according to the website Zumper is only $1,635 for a one-bedroom apartment. So if you can’t afford the mortgage for the house in Westlake, you can afford to pay the rent. For that reason, this is one of the best areas for millennials to buy a home in Austin.
Having a move here by yourself can be pretty hard. So you should think about hiring the best Westlake moving company Austin has to offer. Especially if you’re moving into a multi-million dollar villa. It’s almost impossible to see rich people or millionaires moving their boxes in and out. So you should check if the company can offer you some of these special services:
- Climate Controlled Storage
- Storage Pickup and Delivery
- Short Term Storage
- Special Services
- Packing Services
- Hourly Movers
- Student Movers
- Piano Movers
- Furniture Movers
- Commercial Movers
- Apartment Movers
- Residential Movers
- Interstate Movers
- Long Distance Movers
- Local Movers
- Student Storage
- Car Storage
- Storage Services
You can find out more about moving services Austin Texas on our website. We’ve also got there more tips and tricks for moving, packing, and other related topics in our blog section.
Last but not least, South Lamar is also one of the best areas for millennials to buy a home in Austin
Finally, South Lamar is a small area with around 9 000 people. So, if you want to try traditional Tex-Mex food you’ve gotta visit Matt’s El Rancho. It also has some of the best margaritas since 1952. Loro is another well-known restaurant with its Asian smoked meats in a rustic Texas ambient. You can enjoy great wines, cocktails, and music since they’ve got a big and beautiful terrace. For those of you who enjoy arts and architecture, please visit Neverland Design Fine Art Studio and Casa Neverlandia Art House. It’s a great chance to see and experience something else. Upstairs Circus is something between the workshop and a bar, where people can work with leather, wood, jewelry, and art to design something with these materials while enjoying their drinks.
The median home price is $837,000, which means that the price per square foot is $505. This isn’t so bad, but the rent prices are even better – $1,839, which is great. That’s why many long distance movers Austin have seen an increase in this area. The homes are under $1,000,000 and you aren’t that far from Downtown. It’s 3.6 miles away, or 10 minute ride. But if you don’t know how to avoid traffic jams during the move, think about hiring pros. One extra tip is to try and find out which company is reliable and which one will try to rip you off. Check this by taking a look at online reviews and checking their company’s USDOT number.
Final thoughts on best areas for millennials to buy a home in Austin
We hope that you found our article useful and we hope that you’ll have a nice time in Austin. These are the best areas for millennials to buy a home in Austin according to our research. In the end, it’s a matter of personal preference. But now let’s have a brief review of these areas. The most expensive and most luxurious area is Westlake, Austin’s Hollywood. The second most expensive neighborhood is Downtown Austin followed by Old West. The fourth spot is shared between Zilker and Bouldin Creek, and last but not least is South Lamar. We hope that you’ll enjoy sunny days and clear night skies here in some of the most beautiful areas in Austin. Have a great move and welcome to Texas!