Texas Sees Population and Household Growth
Jennifer Wauhob, Chair of the Texas Realtors Board, shared with Fox News Digital that the recent economic and population surge in Texas is yielding positive outcomes for the state. The Austin area has experienced notable population growth over the last ten years, with data indicating that households are increasing at nearly four times the national average.
From 2014 to 2024, the metropolitan area, which encompasses Austin, Round Rock, and San Marcos, witnessed about a 51% rise in the number of households, according to the National Association of Realtors (NAR). This means approximately 357,000 additional households, boosting the total from 703,976 to 1,061,155 during that period, while the overall U.S. household growth stood at around 13%.
Demographically, the NAR’s report highlights that the growth in the Austin area includes a diverse range of age groups. There was an increase in the percentage of households headed by individuals under 25, rising from 5.1% to 5.9%, along with those aged 25 to 34, whose share grew from 21.1% to 21.7%.
Nadia Evangelou, a senior economist at NAR, remarked on this emergence of younger household heads, noting that this is traditionally when individuals tend to establish households, move for jobs, start families, and purchase homes. She also stated that this surge in younger demographics boosts demand for rental and entry-level homes, which keeps the market competitive and intensifies interest in promoted properties.
Interestingly, the population growth isn’t solely among the young. The demographic of older residents is also expanding, with households headed by individuals aged 65 to 74 increasing from 9.5% to 10.7% between 2014 and 2025. Those aged 75 and older saw an increase from 5.6% to 7%.
Evangelou pointed out that the rise in older households indicates that Austin is not just attracting younger workers; it also effectively retains its elderly residents, suggesting a positive trend for community stability.
Moreover, the growth in various age groups leads to diverse housing demands. Young adults particularly trail the surge in apartment developments, which may contribute to a decrease in rental prices. However, it’s noted that while younger and older demographics are thriving, some middle-age groups have seen slight declines, with households headed by people aged 35 to 44 dipping marginally from 22.9% to 22.7%.
Overall, the Austin, Round Rock, and San Marcos regions are witnessing growth across different age segments, affirming that the demand for diverse housing options remains robust, catering to a broad range of needs.
This varied growth underlines a stable market demand. As Evangelou stated, when multiple age groups flourish simultaneously, it leads to robust interest across various price points and housing types. Whether it’s starter homes, upgrade options, or downsizing opportunities, there’s something for everyone in this evolving market.
