MARS AUSTIN
Downtown skyline with construction cranes rises beyond a bridge and riverside park
The peak 2022

The year the cranes were still going up and the price of a house here stopped rising.

Tesla opened Gigafactory Texas east of town and Oracle had already moved its headquarters here. Then the indexes turned, and Austin's decline was reported as the steepest of any large American metro.

Read the flagship piece

Downtown from the north, at the top of the building cycle: completions kept arriving into a market that had already turned.

Photo: Austin Downtown 2018 · Wikimedia Commons

The turn 2023

Rents fell, downtown office vacancy hit a record, and the city kept finishing apartments anyway.

The Boom, and the Bill That Came After It

Austin's 2020–22 in-migration surge, the corporate arrivals that fed it, and the 2023–25 reversal in prices, rents, and office occupancy — with numbers from named sources.

Hazard tape crisscrosses a computer monitor displaying a termination message on screen
Jobs

The Austin Chamber's Employment Series, and What It Shows After 2023

Tech's share of Austin's metro payroll peaked in the boom, then gave back ground steadily — the WARN notice record and Chamber data together trace the shape of the retreat.

Nine pieces in this section

The vote 2020

Voters approved a rail system, and then the estimate went up.

Project Connect passed at the ballot in November 2020. By 2023 the plan had been cut back, and the I-35 Capital Express rebuild is under way through the middle of it.

Roads, Rail, and What the Water Level Shows

I-35 corridor looking south from an overpass, six lanes of moving traffic, downtown Austin cranes visible in the background

The corridor being rebuilt, looking south from an overpass toward the downtown cranes.

Photo: Thomas balabaud / Pexels

The trade 1900

Franklin opened as a trailer, and the best brisket has since moved out of town.

The Pit Moved

How the geography of serious brisket shifted — from Franklin's trailer to Goldee's, Interstellar, Distant Relatives, and the older Central Texas houses — and what the Texas Monthly Top 50 records about the change.

Barbecue platter with sliced brisket, smoked sausage links, white bread and pickles

The plates the Texas Monthly record now points to sit outside the city limits.

Photo: A plate of Texas barbecue served at Goldee’s Barbecue in Fort Worth, Texas · Wikimedia Commons

2009 Austin, then out of town

Where the Best Brisket Has Since Moved

The Texas Monthly top list once pointed to a corridor. It now points in several directions at once.

Where it moved

The Room Count and the Festival Count
Red River Street venue facade at night with a lit marquee sign, an adult figure visible in the doorway

A Red River frontage still lit. The district kept its designation and lost rooms anyway.

Photo: Tim Mossholder / Pexels

The Red River District Since 2019: A Room Count

The city trademarked "Live Music Capital of the World." The district it designated to protect live music has fewer rooms than it did in 2019. SXSW, ACL, the Continental Club and Antone's, and the bats under the bridge.

Older bones

Under all of it, the older bones: the Capitol of 1888 and its Marble Falls granite, and seventeen of the 1895 moonlight towers still lit. Older Bones

1888The Capitol, in granite
1895Seventeen towers still lit