As the Austin real estate market heats up for Spring, we’re starting to hear talk around the affordability of Austin real estate. It is affordable to buy a house in Austin for a family making the median income?
Median Income in Austin is $55,216
If you run a quick Google search, you’ll see the median household income in Austin in April 2018 is $55,216. According to mortgage affordability calculators, you can afford a $260,000 home if you have 20% to put down. If you have 10% to put down, that number drops to $235,000.
Median Price for Austin Homes is $359,500
February 2018 figures calculate the median price for an Austin home at $359,500. Comparing median figures, housing prices have increased faster than median housing. But, does that mean you are priced out of Austin completely?
Median Prices Have Gone Up for 42 Straight Months
When you look back at our Austin Real Estate Price Reports, you’ll notice year over year prices have gone up every month for 42 straight months. Some months more than others, but an increase nonetheless. Buyers who have been waiting for a slowdown haven’t seen it yet. And, if history is any predictor, it doesn’t seem to be coming any time soon.
So…..Am I Priced Out?
Remember, median price means there are just as many homes that have sold at that price or below as that price or higher. So, before you sentence yourself to renting for the rest of your life, consider your options.
Where Can You Find $250k Homes in Austin?
If you want to stay in Austin proper, most of your choices at $250k or below will be east of 35. The good news there? You can get closer to Downtown Austin if you live east and it is quickly transitioning with shopping, restaurants and things to do. The city is making a big push to continue that process, so you’ll often seen construction on vacant land and even some tear own projects.
What Size Home Can I Expect for $250k or Less in Austin?
In the City of Austin, the average home that sold for $250k or less was 3 bedrooms, 2 bathrooms and about 1,450 sqft.
Popular Neighborhoods with Homes $250k or Less in Austin
If you’re looking to spend $250k or less, here are some of Austin’s most popular neighborhoods with homes in that price range.
Addison
Distance to Downtown Austin: 16 minutes, 11 miles
Average Price: $291,777
Median Price $295,600
# Houses Sold for $250k or Less:Total Homes Sold: 6:26
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,431
School District: Del Valle ISD
Elementary, Middle, High School: Hillcrest, Ojeda, Del Valle
For more info and to search homes for sale, visit our Addison Neighborhood Guide.
Addison Homes for Sale for $250k or Less
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Bradshaw Crossing
Distance to Downtown Austin: 20 minutes minutes, 12.5 miles
Average Price: $248,013
Median Price $244,900
# Houses Sold for $250k or Less:Total Homes Sold: 23:35
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,589
School District:Austin ISD
Elementary, Middle, High School: Blazier, Paredes, Akins
For more info and to search homes for sale, visit our Bradshaw Crossing Neighborhood Guide.
Bradshaw Crossing Homes for Sale for $250K or Less
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Colorado Crossing
Distance to Downtown Austin: 17 minutes, 9 miles
Average Price: $245,687
Median Price $236,150
# Houses Sold for $250k or Less:Total Homes Sold: 43:56
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,712
School District: Del Valle ISD
Elementary, Middle, High School: Smith, Ojeda, Del Valle
For more info and to search homes for sale, visit our Colorado Crossing Neighborhood Guide.
Colorado Crossing Homes for Sale for $250K or Less
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Milwood
Distance to Downtown Austin: 18 minutes, 15 miles
Average Price: $300,493
Median Price $300,250
# Houses Sold for $250k or Less:Total Homes Sold: 32:200
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,346
School District: Round Rock ISD or Austin ISD
Elementary, Middle, High School: Jollyville, Canyon Vista, Westwood or Summitt, Murchison, Anderson
For more info and to search homes for sale, visit our Milwood Neighborhood Guide.
Milwood Homes for Sale for $250K or Less
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Olympic Heights
Distance to Downtown Austin: 22 minutes, 16 miles
Average Price: $257,887
Median Price $254,950
# Houses Sold for $250k or Less:Total Homes Sold: 28:62
Avg Beds/Baths You Can Get for $250k: 3/3
Avg Square Footage House You Can Get for $250k: 1,436
School District: Austin ISD
Elementary, Middle, High School: Baranoff, Bailey, Akins or Bowie
For more info and to search homes for sale, visit our Olympic Heights Neighborhood Guide.
Olympic Heights Homes for Sale for $250K or Less
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Wells Branch
Distance to Downtown Austin: minutes, miles
Average Price: $260,668
Median Price $261,000
# Houses Sold for $250k or Less:Total Homes Sold: 34:91
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,386
School District: Round Rock ISD or Pflugerville ISD
Elementary, Middle, High School: Wells Branch, Deerpark, McNeil or Northwest, Westview or John B Connally
For more info and to search homes for sale, visit our Wells Branch Neighborhood Guide.
Wells Branch Homes for Sale for $250K or Less
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Bottom Line – Is Austin Still Affordable?
If you talk to the old time Austinities, they’ll say no. They remember days when you could buy a home in Bouldin Creek or Travis Heights for less than $100,000. Now, you’re looking at 4-6 times that number at best. However, what they don’t tell you is when you could buy a home in those neighborhoods for that price, no one wanted to live there. It wasn’t the trendy, walkable, fun spot it is today. As the area improved, prices increased. Basic supply and demand.
I Say Yes – You Just Have to Know Where to Look
Can you buy a 4,000sqft, brand new home in a walkable neighborhood 5 minutes from Downtown? Can you buy a 1,450 sqft home with 3 bedrooms and 2 bathrooms within a 15-20 minute drive from Downtown? Yes.
But I Can’t Find Many Choices in the Neighborhoods Listed
Keep in mind, the search widgets only show active listings. $250,000 homes sell quickly, so they won’t stay on active status long. To ensure you don’t miss something that could be a good fit, it’s best to set up a search. We’re happy to get that setup. Just email us at info@11OaksRealty.com with what you’re looking for and we can get that activated.
Austin Suburbs Offer More Affordability
Austin suburbs also offer a different option for homeowners who don’t need to be in the City of Austin. Cities like Buda, Kyle, Pflugerville and Round Rock offer newer construction, larger homes, better schools and more amenities than most Austin homes in the same price range. If you can live outside the city of Austin, here are some popular neighborhoods where you can find a home for $250k or less.
Buda and Kyle Neighborhoods
Buda and Kyle are the nearest southern suburbs of Austin. Typically buyers choose this side of town if they commute to Downtown Austin or the airport. You can usually find more choices for $250k or below than you can in the northern suburbs.
Amberwood
Distance to Downtown Austin: 20 minutes, 20 miles
Average Price: $209,198
Median Price $205,500
# Houses Sold for $250k or Less:Total Homes Sold: 47:49
Avg Beds/Baths You Can Get for $250k: 4/2
Avg Square Footage House You Can Get for $250k: 2,010
School District: Hays CISD ISD
Elementary, Middle, High School: Pfluger, Chapa, Lehman
For more info and to search homes for sale, visit our Amberwood Neighborhood Guide.
Amberwood Homes for Sale for $250K or Less
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Bunton Creek
Distance to Downtown Austin: 24 minutes, 22 miles
Average Price: $222,717
Median Price $227,900
# Houses Sold for $250k or Less:Total Homes Sold: 62:66
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,698
School District: Hays CISD
Elementary, Middle, High School: Susie Fuentes, Armando Chapa, Lehman
For more info and to search homes for sale, visit our Bunton Creek Neighborhood Guide.
Bunton Creek Homes for Sale for $250K or Less
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Plum Creek
Distance to Downtown Austin: 24 minutes, 22 miles
Average Price: $226,458
Median Price $220,000
# Houses Sold for $250k or Less:Total Homes Sold: 126:160
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,701
School District: Hays CISD
Elementary, Middle, High School: Negley or Kyle, RC Barton, Hays
For more info and to search homes for sale, visit our Plum Creek Neighborhood Guide.
Plum Creek Homes for Sale for $250K or Less
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Shadow Creek
Distance to Downtown Austin: 24 minutes, 22 miles
Average Price: $215,782
Median Price $216,460
# Houses Sold for $250k or Less:Total Homes Sold: 157:162
Avg Beds/Baths You Can Get for $250k: 4/3
Avg Square Footage House You Can Get for $250k: 1,882
School District: Hays CISD
Elementary, Middle, High School: Pfluger, McCormick, Hays
For more info and to search homes for sale, visit our Shadow Creek Neighborhood Guide.
Shadow Creek Homes for Sale for $250K or Less
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Stoneridge
Distance to Downtown Austin: 18 minutes, 17 miles
Average Price: $250,583
Median Price $248,000
# Houses Sold for $250k or Less:Total Homes Sold: 16:31
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,874
School District: Hays CISD
Elementary, Middle, High School: Tom Green, McCormick, Hays
For more info and to search homes for sale, visit our Stoneridge Neighborhood Guide.
Stoneridge Homes for Sale for $250K or Less
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Sunfield
Distance to Downtown Austin: 20 minutes, 17 miles
Average Price: $260,936
Median Price $254,675
# Houses Sold for $250k or Less:Total Homes Sold: 51:105
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,706
School District: Hays CISD
Elementary, Middle, High School: Tom Green, McCormick, Hays
For more info and to search homes for sale, visit our Sunfield Neighborhood Guide.
Sunfield Homes for Sale for $250K or Less
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Waterleaf
Distance to Downtown Austin: 26 minutes, 26 miles
Average Price: $208,407
Median Price $209,000
# Houses Sold for $250k or Less:Total Homes Sold: 72:75
Avg Beds/Baths You Can Get for $250k: 3/3
Avg Square Footage House You Can Get for $250k: 2,082
School District: Hays CISD
Elementary, Middle, High School: Tobias, Simon or Wallace, Lehman
For more info and to search homes for sale, visit our Waterleaf Neighborhood Guide.
Waterleaf Homes for Sale for $250K or Less
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Woodlands Park
Distance to Downtown Austin: 26 minutes, 26 miles
Average Price: $222,432
Median Price $225,000
# Houses Sold for $250k or Less:Total Homes Sold: 25:25
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,873
School District: Hays CISD
Elementary, Middle, High School: Tobias, Wallace, Lehman
For more info and to search homes for sale, visit our Woodlands Park Neighborhood Guide.
Woodlands Park Homes for Sale for $250K or Less
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Round Rock and Pflugerville Neighborhoods
Round Rock and Pflugerville are the two nearest northern suburbs of Austin. Known for its highly rated schools and proximity to North Austin tech employers, Round Rock and Pflugerville have both long been an option for home buyers looking for more affordable options.
Blackhawk
Distance to Downtown Austin: 26 minutes, 24 miles
Average Price: $312,747
Median Price $303,600
# Houses Sold for $250k or Less:Total Homes Sold: 38:212
Avg Beds/Baths You Can Get for $250k: 4/2
Avg Square Footage House You Can Get for $250k: 2,044
School District: Pflugerville ISD
Elementary, Middle, High School: Rowe Lane, Kelly Lane, Hendrickson
For more info and to search homes for sale, visit our Blackhawk Neighborhood Guide.
Blackhawk Homes for Sale for $250K or Less
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Falcon Pointe
Distance to Downtown Austin: 24 minutes, 21 miles
Average Price: $312,161
Median Price $313,000
# Houses Sold for $250k or Less:Total Homes Sold: 21:118
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,891
School District: Pflugerville ISD
Elementary, Middle, High School: Murchison or Rowe Lane, Kelly Lane, Hendrickson
For more info and to search homes for sale, visit our Falcon Pointe Neighborhood Guide.
Falcon Pointe Homes for Sale for $250K or Less
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Highland Park
Distance to Downtown Austin: 24 minutes, 19 miles
Average Price: $241,096
Median Price $236,000
# Houses Sold for $250k or Less:Total Homes Sold: 106:151
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,602
School District: Pflugerville ISD
Elementary, Middle, High School: Highland Park, Park Crest, Hendrickson
For more info and to search homes for sale, visit our Highland Park Neighborhood Guide.
Highland Park Homes for Sale for $250K or Less
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Preserve at Stone Oak
Distance to Downtown Austin: 26 minutes, 25 miles
Average Price: $244,680
Median Price $242,900
# Houses Sold for $250k or Less:Total Homes Sold: 28:41
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,825
School District: Round Rock ISD
Elementary, Middle, High School: Chandler Oaks, Walsh, Stony Point
For more info and to search homes for sale, visit our Preserve at Stone Oak Neighborhood Guide.
Preserve at Stone Oak Homes for Sale for $250K or Less
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Siena
Distance to Downtown Austin: 30 minutes, 25 miles
Average Price: $281,959
Median Price $273,990
# Houses Sold for $250k or Less:Total Homes Sold: 52:209
Avg Beds/Baths You Can Get for $250k: 3/2
Avg Square Footage House You Can Get for $250k: 1,830
School District: Hutto ISD
Elementary, Middle, High School: Veterans Hill, Hutto, Hutto
For more info and to search homes for sale, visit our Siena Neighborhood Guide.
Siena Homes for Sale for $250K or Less
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Price and size data from ACTRIS sales 4/1/2017-3/31/2018.
Looking for an Affordable Home in Austin?
We can help you locate homes that meet your budget in a neighborhood you want to live. We’re not one of those Realtors who specialize in an area and try to talk you into living somewhere that’s convenient for us. Instead, we listen to what you’re looking for and show you where you can find it. If you are thinking of buying a home and are ready to talk to a buyer’s specialist, call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Buyer Survey. We can schedule a no obligation phone call or in person meeting and determine if we would be a good fit.
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