Texas capital’s household growth surges, far outpacing national rate

The Austin, Texas, region has seen its population grow rapidly over the last decade, with new data showing it added households at about four-times the pace of the nation as a whole.

Data from the National Association of Realtors showed that the metropolitan area encompassing Austin, Round Rock and San Marcos saw the number of households grow roughly 51% from 2014 to 2024.

The Austin region gained 357,000 households from 2014 to 2024, which brought the number of households in the region from 703,976 to 1,061,155 in that time. Over that same period, the number of households in the U.S. as a whole grew at a rate of about 13%.

NAR's analysis found that household growth in the Austin metro area was driven across younger and older age groups.

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The data showed that the share of households in Austin, Round Rock and San Marcos led by those under the age of 25 grew from 5.1% to 5.9% from 2014 to 2024. Among those between the ages of 25 and 34, the proportion rose from 21.1% to 21.7%.

"Households headed by people in their late 20s and 30s grew significantly," wrote NAR senior economist and director of real estate research Nadia Evangelou. "Those are the classic years for household formation. That's when people move for jobs, form families, and step into the housing market for the first time."

She said that growth in those age groups can spur demand for rentals and starter homes, keeping entry-level housing demand very strong and competitive, while eventually boosting demand for move-up properties. 

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The youngest age cohort of those under 25 in particular played a role in driving an influx of new apartment buildings, which helped lower rental prices in the area.

Older age groups also saw their share of the Austin area household mix rise, with the share of those led by people aged 65 to 74 rising from 9.5% to 10.7% from 2014 to 2025, while those over the age of 75 rose from 5.6% to 7% in that period.

"The number of households headed by those 65 and older increased significantly over the decade, and their share of total households rose," Evangelou said. "That tells us Austin isn't just attracting younger workers, it's also keeping residents as they age." 

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"That kind of growth creates steady demand for different types of housing: single-level homes, properties with less maintenance, and communities that allow people to age in place," she explained.

With the growth in younger and older households, other age cohorts declined slightly. The share of households led by those between 35 and 44 was little changed, dipping slightly from 22.9% to 22.7%. Those between the ages of 45 and 54 fell from 19.2% to 17.7%, while the 55 to 64 age group declined from 16.6% to 14.2%.

The growth seen in Austin, Round Rock and San Marcos across different age groups helped keep demand strong for a variety of housing categories that cater to the needs of the disparate groups.

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"When only one age group drives the market, demand tends to be concentrated in a single segment, demand tends to be concentrated in a single segment. But when young adults, families, and older households are all growing that the same time, housing demand becomes stronger across multiple price points and housing types," Evangelou explained.

"Here is why: Starter homes remain in demand. Move-up homes stay competitive. Downsizing options matter more," she added.