Austin expects continued population increase

AUSTIN – The city’s total area population is expected to increase from 824,205 in 2012 to about 1.09 million in 2030 and 1.28 million by 2045, according to demographic information from the City of Austin.

Housing is one of the areas that could be affected by this increase. According to information from Metrostudy, the Austin new home market saw 7,981 annual starts for detached housing as of fourth quarter 2012.

Along with new detached homes, the city has seen an influx of urban and suburban apartment construction as demand increases. According to Austin Investor Interests, rental rates have increased 12 percent since 2010.