America Adds Millions of Homes—But Austin’s Growth Is in Its Own Neighborhood

America has added millions of households over the past decade. But one metro is in a league of its own: Austin, TX, added another 51% of homes over the same period.

Nationally, homes are expected to grow nearly 13% from 2014 to 2024, according to a new analysis by the National Association of Realtors®.

“Growth grew over time [COVID-19] epidemic, but even now, Austin is still growing 2.5 times faster than the US as a whole,” Nadia Evangelouchief economist and study author, tells Realtor.com®.

“That tells you that this is not a short-term development—an ongoing economic development. Strong job growth, business expansion, and long-term opportunity are all working together. That combination keeps drawing people in, and it translates directly into stable housing demand.”

In his analysis, Evangelou points out that some metropolitan areas change their location when the Office of Management and Budget revises metro definitions. This analysis focuses on metropolitan areas with a relatively constant area over a 10-year period.

All about Austin

The Austin-Round Rock-San Marcos, TX, metro went from 703,976 households in 2014 to 1,061,155 in 2024—an increase of 357,179, according to NAR.

“What makes Austin so unique is that its growth is not dominated by one age group,” Evangelou noted. “Yes, young professionals are flocking to jobs. But we’re also seeing growth in families and older households. That multi-generational mix creates a stable and strong housing market.”

With multiple generations driving the market, housing demand and prices are well represented in all categories. The median listing price in the Austin metro is $455,000, according to Realtor.com data. But for first-time home buyers, that presents a barrier to affordability.

The report shows that households headed by people in their 20s and 30s have grown the most—21.7%. The NAR describes it as “the prime age of home building. This is when people move to find jobs, start families, and enter the housing market for the first time.”

“We know that Austin is an attraction for young people. We have the University of Texas here. And for many people, that’s their first experience, coming to the University of Texas,” Vaike O’GradyOpen MLS research consultant in Austin, tells Realtor.com. “Many of them stayed, for which we are very grateful.”

Strong growth in that age group is keeping demand competitive for rental properties and startups.

“A number of builders are focused on trying to provide housing that will help younger, first-time homebuyers or first-time movers,” O’Grady said. “So we’re seeing a lot of product offering under $300,000.”

O’Grady notes widespread growth among all age groups and family types.

“You have a need for younger people, or maybe where people are moving into housing, and then we have a need from people who are moving up and retirees. So, really, it’s across the board, the types of housing that will serve that audience,” he said.

“It’s definitely the 25 to 39 age group that’s an important part of Austin.”

The NAR study also shows households between the ages of 35 and 44 make up 22.7% of the share, followed by those aged 45 to 55 (17.7%) and 55 to 64 (14.2%).

“I attribute some of that to what we call baby changers,” added O’Grady. “So when the kids are there and they start having kids, the grandparents want to be around. I think part of that is the natural aging of the population.”