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Austin real estate market overview
- Average Monthly Rent: $1,690
- Home Price/Value Percentage Change: 22.7%
- Median Home Value: $595,000
- Best Time To Sell a Home: December
- Affordability Index: 103
- Days To Sell a House: 48
- Job Market: Fair
- Public School Ranking: 28
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 1,028,225, with a growth rate of 1.62% annually.
The job market has increased by 3.5% over the last year. In ten years, job growth is predicted to be 47.0%. In 2020, Austin was named America's Best Job Market by the Wall Street Journal due to its progressive economy and increasingly diverse job market. Some of the largest industries are in construction, national resources and mining, transportation, and information research.
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
- Tarrytown
- Mueller
- Belterra
- West Lake
- Circle C Ranch
- Tervista
The average monthly rent in Austin is $1,690 for an average apartment size of 865 sq. feet.
There has been a 22.7% increase in Austin's median home value over the last year. As of 2022, the median home value is $595,000.
On average, homes in Austin sell after 48 days on the market.
The best time to sell a home for the most profit in Austin, Texas is during December. The best time to sell quickly is during July.
The affordability index in Austin is 103. This number indicates increased affordability in this city.
The top ranked public schools are Liberal Arts & Science Academy, Westlake High School, Westwood High IB World School, Vandegrift High School, Meridian World School, and Cedar Park High School. This information is dependent on key statistics, reviews from students and parents, and data from the US Department of Education.