Median Home Prices in South Austin
We all know that Austin home prices are steadily rising and rising. Which can be discouraging for those who are just starting out, looking to purchase their first home, or thinking about starting a family.
As Austin transforms into the next Silicon Valley (or Silicon Hills), welcoming the likes of Google, Amazon, Apple, and other large tech companies; the fact is home prices are going to continue to rise. But there are pockets of Austin and its surrounding areas that are still affordable and perfect for young families, old families, retirees, and everyone in between – South Austin is one of them. South Austin real estate so has much to offer. And different sections of this area cater to many different lifestyles and budgets.
While the median home price in Austin is $364,100; you will find zip codes in South Austin that are lower, higher, and right on target with this average.
But not to fret! There are plenty of South Austin zip codes whose median home prices are below or on par with the city average. These zip codes offer “more bang for your buck” in terms of real estate. Think oversized backyards, more square footage, and cash savings that you can spend on making your home uniquely yours. Plus, they are close to 78704, minutes away from downtown, and offer their own unique culture that you won’t find anywhere else in Austin.
78748 has a median home price of $294,600 and has increased 6.1% over the past year, according to Zillow. The median price per square foot is $169, which is lower than Austin’s average of $208 per square foot. 78748 saw slow growth from 2010-2014 and then began steadily rising and rising to represent a quarter of all sales in the Southwest area. 78748 real estate is predicted to grow 1% within the next year.
The median price of a home in 78745 is $316,900 with a 9% increase over the past year, according to Zillow, and a 2% price increase prediction within the next year. Price per square foot is $230, a bit higher than the city’s $208 per square foot average. 78745 is welcoming tons of new families and young couples looking to buy South Austin real estate. Plus, this area of South Austin offers you an affordable lifestyle in a quiet neighborhood, all while staying within close access to downtown and 78704.
With home prices that have risen 8.7% in the past year, 78749 is a hot market at the moment. The median home value for this zip code is $380,500, according to Zillow, with a price per square foot of $190. 78749 is predicted to have steadily increasing home values over the next year, at a 2.3% rise. This South Austin zip code is a great choice for families looking for a suburban feel while still being close to the downtown. It is also home to some of AISD’s highest rated schools.
With a median home value of $211,300, 78744 is South Austin’s most affordable neighborhood. But maybe not for long. Home values in this zip have gone up 10.6% in the past year, according to Zillow, and are expected to rise 1.6% in the next year. 78744 is situated east of 35 and south of 71, just minutes from downtown and South Congress Ave.
Another affordable neighborhood is 78741. At a $254,900 median home value, this neighborhood is well below the median home price of its neighbor across 35, 78704. Encompassing East Riverside, Oltorf, and Montopolis; median price per square foot in 78741 is $214, just slightly higher than the Austin average, according to Zillow. This area is growing quickly (15.6% over the past year) and is expected to jump another 0.5% over the next year.
South Austin has many hidden gems that will have you loving where you live. Check out our South Austin page on where to eat, drink, socialize, and all around be merry.
Ready to take the next step in your home search? Reach out to us today to chat with Gray about the home buying process and where to start. In the meantime, visit our blog to see client success stories, properties Gray has on the market, and how we stay active in our South Austin community.