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Austin grabbed the coveted number one spot for best overall real estate investment and development opportunities in the U.S that was previously held by Dallas/Ft. Worth.

According to the 2017 Emerging Trends in Real Estate report conducted by the Urban Land Institute, Austin continues to show the most promise overall regarding investment in real estate.

Top 20 Overall Emerging Markets In The U.S.

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“The market has benefited from a diverse economy that was affected in a minimal way by the global financial crisis, a growing population base made up of an educated labor force, and the undeniable “hip” factor that makes Austin attractive to the millennial dominated workforce,” the report said.

The report focused on measurements like potential for faster growth, market stability and overall interest in the market to determine which city would top the list.

Despite being number one overall Austin ranked eleven on the list for markets to watch regarding homebuilding. This could reflect concern regarding rising costs for land and development.

Top 20 U.S. Markets: Homebuilding Prospects

Austin home search

Transportation could be another concern hindering the Austin market from dominating other markets like Los Angeles and Dallas/Ft. Worth that are experiencing larger housing booms.

“Participants [in the report] expressed concern about transportation issues that continue to be a problem in a rapidly growing market,” the report said.