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Austin real estate market overview
- Average Monthly Rent: $1,185
- Home Price/Value Percentage Change: 0.10%
- Median Home Value: $619,096
- Best Time To Sell a Home: March
- Affordability Index: Low
- Days To Sell a House: 73
- Job Market: Fair
- Public School Ranking: 27
Location and weather
Austin is an inland city found in central Texas, along the banks of the Colorado River. It is the capital of the state and is best known for its eccentric downtown, lively music scene, and a beautiful landscape perfect for outdoor recreation. Despite its large size, Austin maintains a cultural, small-town feel that continues to attract tourists and potential new residents.
Austin's weather is primarily warm and sunny, with winter temperatures in the 30s. There isn't much snow here, but there is an average of 35 inches of rain per year.
Population, job market and cost of living
Austin has a population of 1,013,293, with of 1.72% annually.
The job market has decreased by -3.3% over the last year. In ten years, job growth is predicted to be 46.97%. Some of the largest industries are in construction, national resources and mining, transportation, and information research. The best companies to work for are Keller Williams Realty, Whole Foods Market, Arrow Value recovery, Celestica and Firestone Holdings LLC.
Austin is a fairly expensive city to live in when compared to the Texas or US average cost of living, but the high income for residents here balances out its higher expenses.
Austin real estate market details
- Downtown Austin
- West Oak Hill
- Cherry Creek
- Tarrytown
- Barton Hills
- Mueller
The average monthly rent in Austin is $1,185 for an average apartment size of 863 sq. feet.
There has been a 0.1% increase in Austin's median home value over the last year. As of the end of 2022, the median home value is $619,096.
On average, homes in Austin sell after 73 days on the market.
The best time to sell a home for the highest value is in March and the quickest sale is in May.
The affordability index in Austin is 129. This number indicates low affordability in this city.
The top ranked public schools are Canyon Creek Elementary School, Patsy Sommer Elementary School, Laurel Mountain Elementary School, Elsa England Elementary School and Canyon Vista Middle School. This information derives from general educator statistics, school attendance, and the US Department of Education.