surged over the last decade
, fueled in large part by the movement of major tech companies, including Apple, Amazon, and Tesla, into the city. Median home prices in Austin more than doubled between 2011 and 2021 as the city's median household income rose from $55,744 to $80,954 in roughly the same time period, the Austin Chamber of Commerce reported.
City lawmakers are finally finding some success in their efforts to boost housing affordability. The city council on Thursday approved a resolution that would reduce the minimum lot size for a home by more than half and allow up to three units on each residential lot. supported by nine of the council's 11 members, are designed to promote the construction of so-called"gentle density" — also known as infill housing or missing-middle housing.
The resolution also asks the city manager to review regulations on how tall homes can be, how far they need to be from the street, and how much of a lot can be covered by surfaces like rooftops and driveways that don't absorb rainfall. requiring a certain amount of parking spots be built with every new home — a move that is also expected to reduce housing costs.