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from: Michelle Pitcher, Austin Business Journal
Posted: 07/22/2021 / 10:08 AM CDT
Updated: 07/23/2021 / 11:49 AM CDT
AUSTIN (Austin Business Journal) – Austin is often touted as a dream alternative to expensive coastal towns, but soaring property prices – and pretty much that – threatens the city’s reputation as an affordable country place.
The cost of buying a home is a major obstacle for many prospective buyers. Home prices rose by around 10% over the national average in the past year. The Austin Habitat for Humanity director of community affairs states that Austin’s land development law is out of date, causing homes to become more expensive.
Total cost of living remains below the national average, including rental costs. Other costs, including food and utilities, also remain below the national average.
Read the full story on the Austin Business Journal website.
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