Austin has been a hot bed for real estate investors both locally and worldwide for the past several years. Unlike most booming cities, Austin is still a place where investors can put minimal down and be cash flow positive, even in the trendier areas. Renters with high paying jobs are willing to pay top dollar for rent, especially in great locations. With the estimated 170 people moving to Austin per day, not all of them are looking to buy a home, but they want a nice place to live. Where do they look?
Top 10 Zip Codes for Austin Duplexes
When you’re not from Austin, it is difficult to predict which areas command top dollar for rent. Below we’ve listed our top 10 zip codes where it makes most sense to purchase an investment property to get you started on your duplex search.
#1 Top Zip Codes for Austin Duplexes: 78704
This zip code is one of the most highly sought after zip codes, especially for renters. S Lamar, S 1st St and S Congress Ave have rapidly been built up over the past 5-10 years, so you’ll find a lot of the trendiest restaurants and shopping here. Some of Austin’s top chef’s have restaurants on these streets. The schools (especially at the elementary school level) are well rated. If a renter wants to live Downtown in a highly rated district, 78704 is likely where they would go. It is also less than a mile from Downtown (just over the river) and has easy access to both Downtown and the northern tech jobs as it is a reverse commute.
You’ll find the more expensive properties are located North of Oltorf St or West of S Lamar Blvd. These neighborhoods, Barton Hills, Zilker, Bouldin Creek and Travis Heights have more cache than the southern neighborhoods of the zip code (Galindo and Dawson). But, there is one small section at the bottom of this zip code that does not command as much rent as the rest of the zip code. You’ll want to work with someone who can point out this area, so you don’t overpay.
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#2 Top Zip Codes for Austin Duplexes: 78703
78703 is another highly desirable zip code for renters. Single family homes in this zip code can get into the multi millions, so people looking for a 78703 address, but can’t afford the mortgage will look to rent here. 78703 is one zip code west of Downtown. It is quiet and residential compared to the loud music you’ll hear if you lived in a Downtown condo. Schools in 78703 are highly rated, which is another draw. Some popular neighborhoods in 78703 are Tarrytown, Old Enfield and Clarksville. As Downtown continues to boom, 78703 will be an even more desirable area for renters.
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#3 Top Zip Codes for Austin Duplexes: 78751
78751 is home to another trendy area with neighborhoods like Hyde Park and North Loop. The duplexes closer to the university might attract grad students as renters, but undergrads tend to stay closer to the university (78705). Hyde Park is one of those areas that is pretty expensive to buy, so a lot of people opt to rent. It is more of a residential area, but still close to restaurants, shopping, etc. There are quite a few older duplexes here that have been remodeled, many of them to match the style of the building.
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#4 Top Zip Codes for Austin Duplexes: 78756 and #5 78757
78756 and 78757 are two other trendy areas that are growing like crazy. There are many new businesses, coffee shops and restaurants opening up. It is also a very Central location and has attracted many tenants looking to be closer to Downtown but might have to commute north and don’t want to be as far south as 78704. Not quite as strong rents you’ll find in the zip codes listed above, but you won’t be spending as much to buy there.
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#6 Top Zip Codes for Austin Duplexes: 78722
Normally, I would not consider east of 35 neighborhoods in the list of areas that have strong rents and attract longer term tenants, but this little pocket has changed my mind. It is just over 35 across from the university and is starting to look more like 78756/78757 and 78704 and has been commanding higher rents.
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#7 Top Zip Codes for Austin Duplexes: 78730 and #8 78731
These two zip codes are Central and west of MoPac (Loop 1). They are more suburban with good schools, so they would attract someone who wants to be north of Downtown, but to whom schools are important. Recently, we’ve seen the numbers work out pretty well here when you compare investment dollars to rental dollars.
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#9 Top Zip Codes for Austin Duplexes: 78759
This is a strong area as many of the area’s top employers are within 15 minutes from this zip code. Rents in 78759 are not the highest in the city, but there is a consistent stream of tenants looking to be close to their jobs. Real estate prices are significantly less in 78759 and rents have been on an upswing, making this zip code the best for the bargain investor.
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#10 Top Zip Codes for Austin Duplexes: 78745
78745 rounds out the list as another bargain zip code. You can still find duplexes here for the low $200k’s and rents seem to be stable in most of this zip code. Potential tenants looking to be near 78704, but don’t want to pay top dollar for rent choose to live in 78745. The area west of Manchaca Road tends to command higher rent due to the better rated schools.
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Looking to Buy an Investment Property in Austin?
We can help. We own investment properties and have worked with several investors looking to purchase property in Austin. We know the area and can help evaluate the best types of properties for your investment goals. Check out our Home Buyer Representation Program to learn a bit about about why we are best qualified to represent you. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.
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