2012 market overview_Austin_RoundRock_SanMarcos

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End of year (2012) real estate market overview from Texas A&M Real Estate Center.

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2012 market overview_Austin_RoundRock_SanMarcos

  1. 1. MARKET REPORT 2012austin | round rock | san marcos http://recenter.tamu.edu
  2. 2. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Table of ContentsIntroduction..................................................................................................... 1MSA Map........................................................................................................ 2Demographics................................................................................................ 3Education..................................................................................................... 13Employment................................................................................................. 14Economy...................................................................................................... 26Infrastructure................................................................................................ 28Multifamily..................................................................................................... 31Housing........................................................................................................ 55Retail............................................................................................................ 73Hotel............................................................................................................. 81Office............................................................................................................ 82Medical Office............................................................................................... 86Industrial....................................................................................................... 90Development Land....................................................................................... 93Real Estate Center....................................................................................... 94 For the latest Austin-Round Rock-San Marcos news, visit NewsTalk Texas. Click to LinkMarket reports are updated annually. The Real Estate Center also publishes NewsTalk Texas, a compilation of marketnews, which is updated continuously throughout the year. It allows market analysts to access the most current informationavailable. For more current information about this Metropolitan Statistical Area (MSA) or any of the other Texas MSAs,please go to http://recenter.tamu.edu/newstalk/. -i-
  3. 3. 2012 Texas Metro Market Overviewnoit Austin-Round Rock-San Marcos Quick Facts MSA Land Area (2009 definition) 4,279.94 square miles 2010 Population Density 401 people per square mile Counties Bastrop, Caldwell, Hays, Travis, Williamson Area Cities and Towns Austin, Cedar Park, Georgetown, Leander, Lockhart, Pflugerville, Round Rock, San Marcos, Taylor Sources: U.S. Census Bureau and Real Estate Center at Texas A&M University Microsoft product screen shot reprinted with permission from Microsoft Corp. -1-
  4. 4. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Metropolitan Statistical Areas (MSAs) DALLAM SHERMAN HANSFORD OCHILTREE LIPSCOMB HARTLEY MOORE HUTCHINSON ROBERTS HEMPHILL 2 POTTER CARSON OLDHAM GRAY WHEELER RANDALL ARMSTRONG DEAF SMITH DONLEY COLLINGSWORTH PARMER CASTRO SWISHER BRISCOE HALL CHILDRESS HARDEMAN WICHITA 25 BAILEY LAMB HALE FLOYD MOTLEY COTTLE WILBARGER FOARD 14 20 CLAY GRAYSON 21 ARCHER MONTAGUE LAMAR COCHRAN HOCKLEY DICKENS KING KNOX BAYLOR COOKE FANNIN RED RIVER LUBBOCK CROSBY DELTA BOWIE WISE DENTON FRANKLIN JACK COLLIN HUNT YOAKUM TITUS TERRY LYNN GARZA KENT STONEWALL HASKELL THROCKMORTON YOUNG HOPKINS 8 MORRIS CASS CAMP ROCKWALL PARKER RAINS WOOD JONES SHACKLEFORD UPSHUR MARION TARRANT DALLAS 1 GAINES DAWSON BORDEN SCURRY FISHER STEPHENS PALO PINTO KAUFMAN 22 13 SMITH GREGG HARRISON VAN ZANDT HOOD JOHNSON ELLIS CALLAHAN ANDREWS MARTIN HOWARD MITCHELL NOLAN TAYLOR EASTLAND ERATH SOMERVELL HENDERSON 17 16 PANOLA RUSK 9 HILL NAVARRO EL PASO 24 COMANCHE STERLING BOSQUE CHEROKEE LOVING WINKLER COKE RUNNELS ECTOR MIDLAND COLEMAN BROWN ANDERSON SHELBY FREESTONE 18 GLASSCOCK HAMILTON CORYELL MCLENNAN NACOGDOCHES MILLS LIMESTONE 11 HUDSPETH CULBERSON WARD SAN CRANE AUGUSTINE UPTON REAGAN HOUSTON SABINE CONCHO LEON REEVES IRION TOM GREEN LAMPASAS FALLS ANGELINA MCCULLOCH SAN SABA ROBERTSON 6 BELL TRINITY MADISON SCHLEICHER MENARD POLK JASPER NEWTON BURNET MILAM TYLER PECOS BRAZOS WALKER JEFF DAVIS CROCKETT MASON LLANO WILLIAMSON SAN BURLESON JACINTO KIMBLE 4 SUTTON HARDIN 3 TRAVIS GRIMES GILLESPIE LEE MONTGOMERY TERRELL BLANCO ORANGE WASHINGTON LIBERTY 10 KERR HAYS BASTROP JEFFERSON AUSTIN PRESIDIO EDWARDS WALLER VAL VERDE CHAMBERS REAL BREWSTER KENDALL CALDWELL FAYETTE HARRIS COMAL BANDERA COLORADO FORT BEND 19 GUADALUPE GALVESTON GONZALES KINNEY LAVACA UVALDE MEDINA BRAZORIA WHARTON BEXAR 23 WILSON DE WITT JACKSON ZAVALA FRIO KARNES MATAGORDA MAVERICK ATASCOSA VICTORIA GOLIAD CALHOUN DIMMIT MCMULLEN BEE REFUGIO LA SALLE LIVE OAK ARANSAS 12 7 SAN PATRICIO JIM WELLS DUVAL NUECES 1. Abilene 14. Lubbock WEBB KLEBERG 2. Amarillo 15. McAllen-Edinburg-Mission 3. Austin-Round Rock-San Marcos 16. Midland ZAPATA JIM HOGG BROOKS KENEDY 4. Beaumont-Port Arthur 17. Odessa 5. Brownsville-Harlingen 18. San Angelo STARR 15 WILLACY 6. College Station-Bryan 19. San Antonio-New Braunfels HIDALGO 5 CAMERON 7. Corpus Christi 20. Sherman-Denison 8. Dallas-Fort Worth-Arlington 21. Texarkana 9. El Paso 22. Tyler 10. Houston-Sugar Land-Baytown 23. Victoria 11. Killeen-Temple-Fort Hood 24. Waco 12. Laredo 25. Wichita Falls 13. Longview Prepared by the Labor Market and Career Information Department, TWC Edited by Real Estate Center at Texas A&M University -2-
  5. 5. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Demographics Austin-Round Rock-San Marcos MSA Population Population Select Area Cities Percent Year Population* Change Growth 2000–2010 City 2000 2010 (in percent) 1999 1,205,898 - Austin 656,562 790,390 20.4 2000 1,249,763 3.6 Cedar Park 26,049 48,937 87.9 2001 1,319,000 5.5 Georgetown 28,339 47,400 67.3 2002 1,346,332 2.1 Lockhart 11,615 12,698 9.3 2003 1,376,005 2.2 Pflugerville 16,335 46,936 187.3 2004 1,411,199 2.6 Round Rock 61,136 99,887 63.4 2005 1,452,529 2.9 San Marcos 34,733 44,894 29.3 2006 1,513,565 4.2 Taylor 13,575 15,191 11.9 2007 1,598,161 5.6 Source: U.S. Census Bureau 2008 1,652,602 3.4 2009 1,705,075 3.2 2010 1,716,289 0.7 *July 1 population estimates, except 2000 and 2010 Source: U.S. Census Bureau County Population Growth Austin-Round Rock-San Marcos MSA Growth 2000–2010 County 2000 2010 (in percent) Bastrop 58,293 74,171 27.2 Caldwell 32,463 38,066 17.3 Hays 99,070 157,107 58.6 Travis 820,927 1,024,266 24.8 Williamson 254,962 422,679 65.8 Source: U.S. Census Bureau -3-
  6. 6. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Distribution by Race and Hispanic or Latino Origin (in percent) Austin- Round Rock- San Marcos MSA Texas White 72.9 70.4 Black or African American 7.4 11.8 Asian 4.8 3.8 American Indian and Alaska Native 0.8 0.7 Other 10.9 10.5 Two or more races 3.2 2.7 Hispanic or Latino (of any race) 31.4 37.6 Source: U.S. Census Bureau 2010 Households by Type 2010 Austin- Round Rock- San Marcos MSA Texas Average household size 2.58 2.75 Households with individuals under 18 years 34.7% 38.9% Households with individuals 65 years and over 15.5% 21.2% Source: U.S. Census Bureau -4-
  7. 7. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Population Histories and Forecasts Austin Area Austin-Round Rock- City of Austin, Total Area Travis County San Marcos MSA Annualized Annualized Annualized Year Population Growth Rate Population Growth Rate Population Growth Rate 2000 656,562 3.50% 812,280 3.49% 1,249,763 3.98% 2001 669,693 2.00% 830,150 2.20% 1,314,344 5.17% 2002 680,899 1.67% 844,263 1.70% 1,353,122 2.95% 2003 687,708 1.00% 856,927 1.50% 1,382,675 2.18% 2004 692,102 0.64% 874,065 2.00% 1,419,137 2.64% 2005 700,407 1.20% 893,295 2.20% 1,464,563 3.20% 2006 718,912 2.64% 920,544 3.05% 1,527,040 4.27% 2007 735,088 2.25% 948,160 3.00% 1,592,590 4.29% 2008 750,525 2.10% 978,976 3.25% 1,648,331 3.50% 2009 774,037 3.13% 1,008,345 3.00% 1,706,022 3.50% 2010 790,390 2.11% 1,024,266 1.58% 1,716,289 0.60% 2011 812,025 2.74% 1,049,873 2.50% 1,763,487 2.75% 2012 826,235 1.75% 1,076,119 2.50% 1,811,983 2.75% 2013 840,695 1.75% 1,103,022 2.50% 1,861,812 2.75% 2014 857,508 2.00% 1,133,356 2.75% 1,917,667 3.00% 2015 872,515 1.75% 1,164,523 2.75% 1,975,197 3.00% 2016 887,784 1.75% 1,196,547 2.75% 2,034,453 3.00% 2017 903,320 1.75% 1,232,444 3.00% 2,100,572 3.25% 2018 919,128 1.75% 1,269,417 3.00% 2,168,841 3.25% 2019 935,213 1.75% 1,307,499 3.00% 2,239,328 3.25% 2020 949,241 1.50% 1,343,456 2.75% 2,306,508 3.00% 2025 1,022,602 1.50% 1,538,624 2.75% 2,673,875 3.00% 2030 1,101,633 1.50% 1,740,812 2.50% 3,062,318 2.75% 2035 1,172,228 1.25% 1,719,686 2.25% 3,464,732 2.50% 2040 1,232,023 1.00% 1,921,997 2.00% 3,920,026 2.50% Population figures are as of April 1 of each year. Historical and current period population figures for the City of Austin take into account annexations that have occurred. Forecasted population figures for the City of Austin do not assume any future annexation activity. Source: Ryan Robinson, City Demographer, Department of Planning, City of Austin; March 2011 -5-
  8. 8. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Texas Metropolitan Statistical Area Population Growth Forecast, 2010–2030 Laredo McAllen-Edinburg-Mission Austin-Round Rock-San Marcos Sherman-Denison Brownsville-Harlingen Dallas-Fort Worth-Arlington El Paso San Antonio-New Braunfels Houston-Sugar Land-Baytown Texas Killeen-Temple-Fort Hood College Station-Bryan Corpus Christi Amarillo Victoria Odessa Tyler Waco Midland Longview Texarkana San Angelo Lubbock Beaumont-Port Arthur Wichita Falls Abilene 0% 10% 20% 30% 40% 50% 60% 70% Source: Texas Water Development Board (April 2011 projection) Austin-Round Rock-San Marcos MSA Projected Population Texas State Data Center Texas Water Development Year (Scenario 0.5) Board 2000 1,249,763 1,240,932 2005 1,405,087 - 2010 1,565,051 1,708,745 2015 1,730,267 - 2020 1,901,433 2,177,181 2025 2,082,566 - 2030 2,272,224 2,629,105 2035 2,466,185 - 2040 2,661,842 3,109,914 Sources: Texas State Data Center (Feb. 2009 projection) and Texas Water Development Board (April 2011 projection) -6-
  9. 9. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Texas Metropolitan Area Population Change Percent Metropolitan Area 2000 2010 Change Austin-Round Rock-San Marcos 1,249,763 1,716,289 37.3 McAllen-Edinburg-Mission 569,463 774,769 36.1 Laredo 193,117 250,304 29.6 Houston-Sugar Land-Baytown 4,715,407 5,946,800 26.1 San Antonio-New Braunfels 1,711,703 2,142,508 25.2 College Station-Bryan 184,885 228,660 23.7 Dallas-Fort Worth-Arlington 5,161,544 6,371,773 23.4 Killeen-Temple-Fort Hood 330,714 405,300 22.6 Brownsville-Harlingen 335,227 406,220 21.2 Tyler 174,706 209,714 20.0 Midland 116,009 136,872 18.0 El Paso 679,622 800,647 17.8 Texas 20,851,820 24,304,290 16.6 Lubbock 249,700 284,890 14.1 Odessa 121,123 137,130 13.2 Longview 194,042 214,369 10.5 Amarillo 226,522 249,881 10.3 Waco 213,517 234,906 10.0 Sherman-Denison 110,595 120,877 9.3 Corpus Christi 403,280 428,185 6.2 San Angelo 105,781 111,823 5.7 Texarkana 129,749 136,087 4.9 Victoria 111,663 115,384 3.3 Abilene 160,245 165,252 3.1 Beaumont-Port Arthur 385,090 388,745 0.9 Wichita Falls 151,524 151,306 -0.1 Source: U.S. Census Bureau -7-
  10. 10. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos 2010 Geographic Mobility Austin-Round Rock-San Marcos MSA Percentage Moved From: Different Total County in Population Same County Texas Different State Abroad 1 year and over 1,703,922 13.2 6.3 2.6 0.8 1 to 4 years 103,603 16.4 5.4 2.3 0.8 5 to 17 years 309,782 11.7 4.4 1.5 0.7 18 to 24 years 200,803 23.0 19.1 3.3 1.4 25 to 34 years 293,896 20.9 7.6 4.8 1.3 35 to 44 years 261,836 11.1 4.9 2.6 1.0 45 to 54 years 227,420 7.8 3.5 1.6 0.2 55 to 64 years 166,990 5.8 1.9 1.4 0.6 65 to 74 years 82,153 4.9 2.9 2.0 0.3 75 years and over 57,439 5.1 3.2 3.2 0.0 Source: American Community Survey 2010 -8-
  11. 11. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos 2010 Texas Metropolitan Area Geographic Mobility Total Percentage Metropolitan Area Population* Migrated** College Station-Bryan 226,662 14.7 San Angelo 110,919 14.2 Killeen-Temple-Fort Hood 400,377 13.3 Amarillo 248,476 10.0 Wichita Falls 151,024 9.8 Austin-Round Rock-San Marcos 1,703,922 9.7 Lubbock 284,989 9.4 Longview 211,925 9.0 Abilene 163,057 8.9 Corpus Christi 421,953 7.3 Texas 24,899,075 6.9 Tyler 207,381 6.9 Beaumont-Port Arthur 384,923 6.8 Dallas-Fort Worth-Arlington 6,314,454 6.5 San Antonio-New Braunfels 2,129,546 6.4 Midland 134,722 6.2 Texarkana, Tex.-Texarkana, Ark. 134,686 6.1 El Paso 794,075 6.0 Victoria 113,088 5.8 Odessa 134,841 5.8 Houston-Sugar Land-Baytown 5,887,484 5.6 Waco 233,411 5.5 Sherman-Denison 119,877 5.1 Laredo 247,153 3.6 McAllen-Edinburg-Mission 765,385 3.3 Brownsville-Harlingen 401,527 2.5 *Population includes one year and over **Percentage migrated includes those moving from a different county within the same state, from a different state and from abroad Source: American Community Survey 2010 -9-
  12. 12. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos - 10 -
  13. 13. 2012 Texas Metro Market Overview Austin-Round Rock-San Marcos Median ages by city, county and state 50 44 43.2 Georgetown 40.5 Burnet Country 40 Milam Countty 34.4 34.2 33.8 33.6 33.4 Taylor 32 31.9 31.4 31 Williamson County Pflugerville State of Texas Cedar Park 28.9 Travis County Round Rock 30 Leander Austin Hutto 20 10 0 Source: 2010 Census American Fact Finder - 11 -

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