What Will Austin Look Like In 5 Years New Report Details Rapid Growth

Dated: 09/18/2015

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What will Austin look like in 5 years? New report details rapid growth

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austin skyline zilkerAccording to LawnStarter, Austin can expect a 19 percent population increase in the next five years.Wikimedia Commons

Austin is toying with the title “boomtown,” and everyone is curious to know: Is the growth in Austin sustainable? LawnStarter recently released an infographic to show how much Austin’s metro area will change by 2020 in terms of jobs, education, transportation, and more.

With T-shirts donning phrases like “Welcome to Austin. Please don’t move here. I hear Dallas is great!” we regret to inform you that Austin’s development is by no means slowing down. We took a look at the key findings from LawnStarter’s study. Here’s what to expect in the next five years:

Population
Austin should prepare for an almost 19 percent increase in population, rising from an estimated 1.9 million in 2014 to 2.3 million in 2020.

LawnStarter approximates a 35 percent change in economic expansion, noting a $33.2 billion inflation for the economy by 2020.

Jobs
In 2015, Austin’s number of jobs is estimated to be 886,620, with a projected 1 million jobs by 2020, making for a 15 percent increase. In addition, downtown is slated for 26 percent job growth with North Austin experiencing 18 percent job growth.

Education
The University of Texas is expecting an 8.4 percent enrollment gain by 2020, while AISD surprisingly expects a 2.8 percent decrease, the only negative number on the entire infographic. With more people moving to the suburbs, Leander and Hays school districts expect 19 percent and 26 percent increases, respectively. It should also be noted that 2020 marks the first year students would graduate from UT’s Dell Medical School.

LawnStarter also reports that due to the population acceleration, energy needs will surge, with a shocking 38 percent increase in water usage. The study also mentions the improved transit routes in Austin, including MoPac’s projected 2020 toll lanes opening and the completion of an eight-mile expressway on Highway 183 between 290 and 71.

In other words, get ready to make room for new neighbors, but don't lose sight of what this population boost brings with it — a stronger and more desirable local economy. In addition, you may want to invest in a bicycle: In 2020, at least 20 percent of the Austin area population is predicted to commute by bike. 


See original Article here:http://austin.culturemap.com/news/city-life/09-15-15-what-will-austin-look-like-in-2020-new-lawnstarter-report-confirms-rapid-growth/#bmtags:image-link,placement:slot-3

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Melissa Galvan

True Austin native with a passion for real estate. I'm rooted in Austin and I love my city. I'm privileged to have many personal and professional connections that have greatly assisted me in being suc....

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