Gentrification Tsunami Transforms Austin Into Least Affordable US City
27th January 2022
Much of the gentrification has been due to an exodus of people from California and Northeast states, attracted by new jobs and the economic prosperity of a thriving city due to Apple, Amazon, IBM, AT&T, Tesla, and Samsung opening new campuses or expanding operations.
The flurry of high-paying tech jobs in the city has unleashed inflationary forces on the metro area, boosting the cost of living from one of the cheapest in the US to the most expensive in under a decade. Rob Gordon, the manager and real estate agent with the realty company, JBGoodwin, said the city expanded by 160,000 people in the last decade.