To many residents, the billionaire's arrival is just another example of how tech giants influence the futures of smaller towns in the shadow of Austin.
and Realtors were claiming that more than 180 people were moving into the metro area every day.
Median rents for all housing types in Bastrop are $2,295 this month, up 24 percent from a year ago, according to Zillow. Rates for apartments and condo average $1,824, up 37 percent. Overall, that's just 2 percent less than in Austin. Residents take pride in not being from Austin, where the unofficial motto is “Keep Austin Weird.” In Bastrop, locals wear T-shirts that read “East of Weird” and “Hip Not Weird.”The mayor also takes pride in the fact her city was once one vote shy of becoming the Texas state capital.
Set to leave office in May after serving two, three-year terms, she said she believes the new utility plans will help attract home builders to the city, which is in need of more single-family homes and rentals.Matt Holm, the 51-year-old founder of the Austin Tesla Owners Club and a real-estate agent based in Austin, said the entire metro is experiencing a shortage of housing inventory.
Rising home prices in Austin have already pushed homebuyers to look for less expensive options in Bastrop and Bastrop County, he said, “where there’s an opportunity for developers to come out and build.” While the supply of homes for sale in the county is still relatively tight, it’s closer to being balanced than in the rest of the metropolitan area. Here, there was a 3.8 month supply of homes in February, according to the
Standing before The Boring Co.’s construction site on a recent morning, Holm said he supports Musk’s plans to provide less expensive housing for his employees. It makes sense, he said, given the lack of options in the area. Blake, the owner of the music shop, said he's got no problem with Musk’s Snailbrook and Project Amazing.
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