Austin’s office market continues to outperform relative to other major markets and shows resiliency in uncertain economic conditions. Austin was already one of the highest remote-work markets before the pandemic, according to the U.S. Census, which may mean that the market will see more remote workers than the average U.S. metro. Tech companies opening regional headquarters or expanding their existing footprint has been a key driver of demand for Austin office. Rent growth has remained positive since the start of 2022 and continues on an upward trajectory. Growth in the information industry, a good proxy for tech hiring in Austin, is up roughly 11% over the past year.
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