What Is The Real Estate Market Like Around The University Of Texas At Austin?

A southwestern hub for technology, art and entertainment, Austin’s culture and economy are bolstered by the University of Texas’ influence.

Austin, Texas is home to the University of Texas, or UT, one of the largest major universities in the United States. UT Austin has the nation’s eighth-largest single-campus enrollment, clocking in at more than 51,000 students and 3,000 teaching faculty. UT Austin is also revered as one of the original eight “Public Ivies”—historic public universities that boast high academic performance and other Ivy League characteristics.

Austin itself has frequently been named a major “hot spot” for real estate, as more and more people are flocking to the up-and-coming city daily. The business-friendly environment and thriving tech community are both huge selling points for the Texas city.

ESTATENVY spoke with Spyglass Realty’s Ryan Rodenbeck, a Platinum Top 50 Realtor for the last seven years, on how the University of Texas’ presence in Austin impacts the economy, real estate market and culture.

Rodenbeck believes that the presence of the university makes for an exciting real estate market that is poised for steady growth. “Having a major university like the University of Texas is beneficial to a city like Austin because employers are attracted to areas where there is a large workforce of graduates that they can hire straight out of school,” said Rodenbeck. “Since UT has a lot of programs that deal with technology degrees, this is a big plus for attracting businesses that are either thinking of starting here, or companies that want to expand or start a new office here.“

Around UT itself, Rodenbeck said there is a strong demand for investment properties. Given Austin’s appealing culture, booming tech industry and warm weather, many students may put down roots past graduation. “It is not uncommon for parents of students to buy or invest in a condo or duplex for their kids to live in while attending college,” said Rodenbeck.

“Austin is a great place to own a home because the market has been stable for so long. And the continued influx of tech companies to Austin should ensure that, even if the market starts to slow down, we should be doing better than most of the country,” Rodenbeck continued.

All things considered, Austin’s housing market is surprisingly accommodating to almost every budget. This is key for University of Texas attendees, as most young students are likely looking for economical housing while they attend school full-time.

“The northern part of Austin, which includes The Domain and cities like Cedar Park and Round Rock, is very affordable,” said Rodenbeck. “Consumers can find a home in just about any part of Austin that is affordable and within a 30-minute drive to where major employers are located.”

Rodenbeck also named the University Hills neighborhood as a great place to live that is fairly close to campus. “The gentrification that has occurred over the last couple of years has lead to older, run-down homes being renovated or flipped and replaced with newly built homes,” said Rodenbeck.

When choosing where to live, Rodenbeck encouraged future Austin homeowners and UT attendees to select a location based on their lifestyle. “Research the areas in which you're going to spend the most time hanging out and working and try to find a place that accommodates both,” he stated.

As the city leads the nation in population growth for 8 consecutive years, trends indicate that investing in Austin real estate could lead to major future payoffs.