AUSTIN, Texas - Austin, Texas has dropped back out of the top 10 list of largest U.S. cities, just one year after being the 10th largest city in the country.
Austin is now the 11th largest city in the country, with Jacksonville, Florida, taking the 10th spot.
In 2023, Austin surpassed San Jose, California with a population growth rate of 1.3%, but new estimates from the U.S. Census Bureau show Austin's growth rate has slowed.
Between July 2022 and July 2023, Austin saw a net gain of 4,464 new residents, growing to a new total population of 979,882 people. Austin's growth rate during that period – 0.42 percent – was just shy of the national growth rate of 0.5 percent.
The City of Austin says the slower growth rate was in line with trends among large cities since the COVID-19 pandemic. Four out of five cities with populations over 500,000 saw annual increases of less than one percent.
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This slower growth pace is also seen in the surrounding cities, like Georgetown, which saw a drop from 14.4 percent to 10.6 percent.
However, Census Bureau estimates also showed evidence of slower growth across Central Texas, including negative net migration into Travis County, says the city.
The city does claim there is a silver lining to the slower pace of growth, as Census data shows that Travis, Williamson, and Hays counties have added more than 40,000 new housing units between them. This increase in supply coupled with less intense demand pressures could be related to the recent stabilization in median home prices and rents in the Austin area.
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