New Braunfels Benchmark Study

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New Braunfels’ population has grown by 57% since 2011, and continues to grow over three times the rate of Texas. This growth can be attributed to exceptional quality of life, excellent public schools, and a prime location on the San Antonio-Austin corridor. Veramendi, a 2,400 acres mixed-use development, is on track to build over 5,000 new single-family homes as well as provide retail and office opportunities. Recent announcements by Continental, McCoy’s Building Supply and TaskUs are validation that companies see what residents see.

Per Capita Commercial Investment benchmark was created to indicate how the local economy was attracting commercial investment. The 10-year average is $1,513. Taxable value in New Braunfels is up nearly
153% since 2010. The tax rate levied by the city is 0.48194.

JOBS IN NEW BRAUNFELS

Since 2003, New Braunfels has enjoyed a lower unemployment rate than the nation, state, region and nearby metro areas. The rate averaged 4.3% between 2003 and 2019. In 2020, unemployment rate reached over 13% but quickly recovered and is now below 4%. In 2021, primary employers invested over $160 million in capital projects.

Seventy-two percent of jobs in New Braunfels are filled by employees commuting into the area, proving that the community enjoys a larger and available labor shed. Additionally, 72% of employed citizens commute outside the city for employment.

NEW PRIMARY JOBS

This custom benchmark has been set locally since 2003, with input from 62 primary employers. Primary employers are those producing a good or service here with a majority of that good or service sold outside the trade area. Announced new primary jobs have averaged 1,168 per year since 2010.

PROPERTY VALUATIONS

New Braunfels property valuations increased in 2021 by 13% over last year. Since 2011, the increase has been a total of 141%. Commercial alone increased 152% since 2011. There has been an increase every year. Residential permits exceeded 1,800 permits in 2021. Since 2010, more than 35,760 single-family homes have been added.

SALES TAX REVENUE RECEIPTS

Sales tax revenues in New Braunfels have increased by 111% since 2011. In 2020, sales tax revenue set new records despite a pandemic. Sales tax revenue is the largest local revenue source for city government services. Another custom benchmark, office space inventory, has grown 111% since 2011. Most of the inventory was created before 2020 and there has been significant absorption in the market.

NEW BUSINESS METERS

New Braunfels meters are measured by the city-owned utility for electricity, water and wastewater. In 2021, we equaled the 11-year average; that’s 1,874 new businesses in the past 11 years. In 2020, commercial/industrial taxable value increased 2%. Since 2010, these values have increased 140%.

AVERAGE HOME VALUE

Median household income rose 30% in New Braunfels over 2019, and up 3% over last year. Since 2011, the median household income has increased 57% since 2011. This is higher than the state and metro-area average.