Austin Metro Big Picture: Key Metrics

1. Population Growth (2013–2023)

• The Austin-Round Rock-San Marcos MSA grew from approximately 1.9 million in 2013 to over 2.4 million in 2023, marking a 28% increase over the decade. ​

2. Job Growth & Unemployment

• In 2023, Austin experienced a 4.4% year-over-year job growth, adding 56,300 jobs, positioning it as the fifth-best performing metro among the top 50.
• The unemployment rate remained low, reflecting a robust labor market.​

3. Net Migration & In-Migration Trends

• Between July 2022 and July 2023, the Austin metro area saw a net migration of 31,148 individuals, with 45% of the population growth attributed to domestic migration.
• Top feeder states include California, Florida, and New York.​

4. Rent Trends

• Average monthly rent in Austin decreased by about 6% year-over-year as of mid-2024, settling at approximately $1,528.
• This decline follows a period of rapid rent increases during the pandemic years.​