There are currently around 6,000 people living in the downtown area of Austin. With a nod to urban living, thousands of new residences are in the works, so that population is expected to double within the next two years. According to a new study presented in the Austin Business Journal, there are plenty of young professionals interested in downtown living.
Because Austin boasts a growing economy and high-paying job opportunities, young people will be the most likely residents of the downtown core. With average condo prices expected to exceed $500,000, those professionals will likely come from the high-paying technology fields.
Urban living is also in keeping with the green trend in Austin real estate; downtown residents conserve energy by avoiding car commuting and living in such a dense area. The study points out that more affordable downtown housing is also in the works.
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