By 2020, the city is expected to be home to nearly 950,000 people. That's up to you. Fortunately, while demand for new homes in the Austin area shows no signs of letting up, the supply is catching up, says Vaike O’Grady, Austin regional director of Metrostudy, a supplier of data about residential construction. To address the “housing supply gap” for lower- and middle-income households, Austin needs to build about 100,000 more homes, apartments, and other dwellings by 2025, the mayor said, and needs to prevent 35,000 affordable dwellings from vanishing due to gentrification. In 2016, the Austin area saw construction begin on about 13,400 homes, according to Metrostudy. In a survey, renters gave a grade of C to housing affordability in Austin, with public transit and commute times being the only factors that received lower marks. It is also the second largest state by size in US. A new report from the City of Austin’s auditor predicts the city’s population will swell from an estimated 855,136 in 2015 to 943,555 in 2020. As per average, each year the population increases by 21,121.24. We will not share or sell your email address. The addition of more than 88,000 residents (roughly equivalent to the entire population of Sugar Land, a Houston suburb) during the 2015-20 time span is bound to further aggravate one of the city’s nagging challenges: affordable housing. The state has three cities with populations exceeding one million: Houston, San Antonio, and Dallas. This projection from Robinson would unfortunately mean many of the problems Austin has been dealing with the past decade or so would continue to grow. Adler said Austin neighborhoods that offer affordable housing are gentrifying rapidly, leading to higher housing prices, which hit lower- and middle-class families especially hard. The Austin metro area, as a whole, was one of the fastest growing major metro areas in the country from 2016 to 2017. The Apartment List website says the median rent for a one-bedroom apartment in Austin sits at $1,190, while the median rent for a two-bedroom apartment is $1,500. This represented a rise of an incredible 184.2% and By 2020, the city is expected to be home to nearly 950,000 people. Who will be CultureMap's charity partner for 2017? QuickFacts Austin city, Texas QuickFacts provides statistics for all states and counties, and for cities and towns with a population of 5,000 or more. Austin by itself is made up of 981,035 people as of Jan. 1. As to when we will see this jump, Robinson said it will happen at the same time that a decline begins with population growth throughout the surrounding five-county metro area. “Austin can appear to be an attractive, lower-cost destination for homebuyers from San Francisco and Los Angeles, where home prices are significantly higher,” Guthrie says, “but in general, the median household incomes of Austin residents have grown at a markedly slower pace than the steadily rising median home prices in the region. A new report from the City of Austin’s auditor predicts the city’s population will swell from an estimated 855,136 in 2015 to 943,555 in 2020. Austin by itself is made up of 981,035 people as of January 1, 2019. Texas has the second largest population in USA with population over 28 million, which accounts for 6.8% of the US population. With a 2020 population of 988,218, it is the 4th largest city in Texas (after Houston, San Antonio, and Dallas) and the 11th largest city in the United States. That would be a population increase of 10.3 percent in just five years. Additionally, the population in 2020 is estimated to be 1,037,436.2 + 21,121.24 = 1,058,557.44. The city's population could grow 10 percent in only five years. It’s a complicated dynamic.”. Think Austin is jam-packed now?