Population growth: 2.1%
Job growth: 6.1%
Market analysis: Population growth in Austin was one of the main reasons for it coming in second for retail investment, according to CrowdStreet. There are a lot of instances in which a job might be based in Dallas or San Antonio, “but people want to live in Austin to be there, and if they can work remotely, they can make that work,” Strub said.
“So from an Austin standpoint, it’s honestly astonishing when you look at the vacancy rate for retail—historically, a healthy market is 10% vacant—and in Austin it's just under 96% occupied,” he continued. “Austin is growing on every single front.”
Grocery market share in 2021: Similarly to the Tampa-St. Petersburg region, a home-state staple—H-E-B—had the largest market share (83.4%) when looking at the top 10 traditional grocers in the region. Austin-based Whole Foods Market at 5.3% and Dallas-based Central Market at 2.8% placed second and third, respectively, according to Placer.ai data. In the past few years, H-E-B, which has headquarters in San Antonio, has invested nearly $200 million in new stores, as well as a remodel, in the growing region.
Of the top two wholesale clubs in Austin, Costco had 54.2% share in 2021, while Sam’s Club had 45.8%, and of the top two superstores, Walmart had 67.3% share and Target 22%. Just as it did in Tampa-St. Petersburg region, Walmart’s market share in Austin fell 1% from 2021 to 2019, Placer.ai found.
Dollar General, with 40% market share, leads again among the top five dollar stores in the region, followed by Dollar Tree 36.1% and Philadelphia-based Five Below 8.8%