Austin’s popularity seems to grow every day. Whether it’s our food, nature trails, career opportunities, or local music, Austin boasts a magnetism that’s impossible to deny.
Since over 62,000 new residents are expected to move to the city just in 2018, the rest of the country seems to agree with U.S. News’ conclusion.
As many might suspect, all our popularity puts Austin real estate in high--and growing--demand. Austin homes appreciated by 7.2% over the course of the last year.
If you’re in the market to invest in Austin real estate, here are some hot locations you might consider:
Central East Austin
Living in Central East Austin means calling one of the city’s most creative districts your home. This side of town has boomed in recent years, drawing commercial and residential developers to commit focused attention to the area. With hot new local spots like Native Hostel and Lazarus Brewery popping up in the past few years, there is an increasing draw for millennials to move closer to this up-and-coming side of town.
For prospective real estate investors, Central East Austin offers several viable real estate strategies. As a popular residential choice for young professionals, buying and leasing a condo or house can be a great way for you to establish a steady stream of monthly income from young renters who want to live close to their downtown jobs.
Median home cost: $435,658.
The 78745 Area Code
The perimeter just a few miles from Central Austin has also enjoyed fast real estate appreciation. In the southwest corner of Austin rests the 78745 area code, a more spread-out Austin housing option that many people enjoy.
For buy-and-hold investors, the 78745 area code provides a quieter alternative to the often-bustling metro area of Central Austin. While slower-paced, the area maintains all the standard living conveniences most of us could hope for: grocery stores, schools, restaurants, and a handful of eclectic coffee shops and bars.
Spencer Davis, a homeowner in 78745 says, “It still feels like the real Austin and I’m close enough to enjoy downtown. I trust my neighbors because many of them have lived here for years.”
Median home cost: $293,311.
Zilker is among the most popular spots in the Austin area. This fun-in-the-sun portion of Austin boasts nearby nature trails along Lady Bird Lake, walkable access to Barton Springs Pool, and large adjacent parks--Zilker Park and Auditorium Shores--where Austin City Limits (ACL) and SXSW host respective festival stages.
The area contains some of Austin’s most famous restaurants, bars, and coffee shops.
For anyone looking to invest in one of the most happening and nature-oriented parts of the city, Zilker is a great place to consider. In addition, with ACL occurring just down the road, AirBnb investors can lease at higher rates in this area because of their competitive proximity to Zilker Park.
Median home cost: $539,833.