Over 12% of homes in Austin are now worth at least $1 million, more than any other Texas city, according to a Redfin report.
That's 8.4 percentage points higher than pre-pandemic levels, when just 3.9% of homes had reached that valuation. And it reflects a nationwide trend—a record 8.2% of U.S. homes are now worth at least $1 million, nearly double the rate in February 2020.
Seven of the top 10 metros with shares of $1M homes are in California. In San Francisco, which tops the list, you'd be hard-pressed to find a home worth less, with nearly 90% of housing valued at or above that margin. Californian cities like Anaheim saw their share of million-dollar homes leap by double-digits (28%), perhaps reflecting the well-reported migration of California residents to more affordable locales, including Austin.
Austin saw the second-highest increase in non-Californian cities in that time frame and sits well above Dallas (4.4%), Houston (2.7%), Fort Worth (2.4%) and San Antonio (1.5%) for total share of $1 million homes.
Texans looking for greener (or cheaper) pastures may find that in McAllen or El Paso: both Lone Star cities sit near the bottom of the list with just 0.2% and 0.1% of their homes valued at or above the $1 million mark.
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With major entertainment events slated for October, the Austin-Bergstrom International Airport is gearing up for a busy month.
Artists and music lovers are set to pack into Zilker Park for The Austin City Limits Music Festival in the coming two weekends. Following that, Formula One will bring racing fans to the Circuit of the Americas.
For those two events, the airport is anticipating high passenger days with 30,000 or more people departing flights.
ABIA recommends arriving at least two and a half hours in advance for domestic flights on those days. For ACL, it's expected on both Sundays of the festival along with the Monday and Tuesday after. The F1-driven high passenger days are expected on Oct. 20-21 and Oct. 23-26.
\u201c#AustinCityLimits visitors, you\u2019re in for a weird and wild ride \ud83e\udd18\u262e\ufe0f \n\nFlying in or out of our airport? We got firm and fun tips for you: https://t.co/RawVRalOXN\u201d— Austin-Bergstrom International Airport (AUS) (@Austin-Bergstrom International Airport (AUS)) 1664894083
F1, especially, could draw in loads of travelers as the three-day event saw 400,000 attendees last year. ABIA warns that highways leading to the airport may see even higher traffic than usual around the event and that travelers should plan their route accordingly.
Bailey Grimmett, a spokesperson for ABIA, said travel numbers come in 24 hours in advance. So, it's hard to predict if the airport will see travel volumes at the same levels that have happened around previous F1 races or if it'll top ACL's flight traffic.
Still, she says historical knowledge points to a chance for it.
“We've had that Monday after F1 break the record for single busiest in airport history," Grimmett said. "So context clues I would say yes, but I can't confirm that. But the historical background points to that."
In anticipation of the high volume of flyers, the airport received additional TSA officers for security screening through the end of October. To prepare even further, the Department of Aviation and partners hosted a job showcase and hiring fair to address the continued labor shortage the airport has experienced.
Relief from hectic travel days is on the horizon with November likely to see a slowdown.
"I don't anticipate it will be as busy as October just because we don't have as many events going on," Grimmett said. "Thanksgiving is kind of our primary holiday that we see a lot of passengers coming in and out of the airport."