5 Affordable Neighborhoods For First-Time Homebuyers In Austin
by Alex Lewis
on Friday, November 24th, 2017 at 12:18pm.
Austin has grown into a sprawling, innovative place. It is a magnet for many young people wanting to jumpstart their careers, raise their kids in a healthy and fun place, and foster an enjoyable lifestyle in one of America’s most popular cities.
With a thriving job market, regular accolades from top media outlets across the country, and rich culture and cuisine, Austin attracts new residents every day from across the country. As some have put it, Austin is where young people go to retire.
Among the many praises Austin receives, it has been recognized as a choice city to invest in real estate. It turns out that year-round temperate weather, great academic institutions, and local incentives for business development can really attract many people ready to stay for the long run. Real estate, in other words, has boomed.
Austin’s fame has resulted in a quick rise in real estate costs. While this is delightful to hear for those who already own homes in the area, families wanting to move to Austin may worry they can’t afford the appreciated real estate costs.
It’s true that the city has become an increasingly challenging place for first-time homebuyers to find affordable housing. But neighborhoods still exist with opportunities for lower-budget families to lay claim to a beautiful home and property all their own without breaking the bank.
If you need help finding an Austin home within your budget, a JB Goodwin agent will be happy to work with you. In the meantime, here are 5 neighborhoods in Austin where you might find an affordable home. All data comes from real estate purchasing data published by Curbed Austin.
Situated near Lady Bird Lake, the East Riverside-Oltorf area is convenient for its lower-cost proximity to downtown Austin. The area offers easy-access to a nearby HEB, as well as several tasty restaurants and nearby parks. For students, Austin Community College offers one of its main campuses in this area.
East Riverside-Oltorf was the most affordable area on Curbed Austin’s list, which is based on houses purchased during the final quarter of 2016. In that time, the East Riverside-Oltorf area had houses selling from between $82,500 – $210,000. To find homes in Austin for less than $100,000 is an increasingly difficult feat, but East Riverside-Oltorf proves there are still deals to be found.
Almost in the exact opposite corner of Austin, Rosedale is another affordable community. Located in the Northwest side of the city, it is situated near the University of Texas campus. This location means ample restaurants, grocery stores, and coffee shops within walking or short driving distance of your home.
There is plenty to enjoy for those who love to stay active. Tennis courts, a pool, and playgrounds are available in Ramsey Park, which is in the very heart of Rosedale.
Regarding the numbers, houses were sold from between $169,999 and $639,900 during the final quarter of 2016. Don’t worry, that’s the largest margin on our list.
Back to the East, MLK-183 is a neighborhood that’s less connected to the bustle of Austin-central. This area is a quieter side of the city that many enjoy. But even if you escape some of the busyness of Austin, MLK-183 isn’t an escape from the local grocery stores or delicious cuisine. There’s a lot to explore nearby.
Many first-time homebuyers in Austin prefer not to purchase a home near the buzz of the city, but are still looking for a home situated near Austin’s awesome jobs, schools, and entertainment. For these families, MLK-183 may be the perfect fit. With only a short drive to Central Austin, you can enjoy less traffic near your home but only have to make a short commute when you’re ready for a night on the town.
Since this neighborhood is on our list, it’s more affordable as well! The housing margin in this area was between $185,000 and $349,000.
Zilker is another neighborhood near Lady Bird Lake, except it is further West than East Riverside-Oltorf. Zilker is a famous part of Austin that many know for Zilker Park, which is the popular location that annually hosts several famous Austin events, including Austin City Limits.
Zilker runs beside South Lamar, which is an active place for many Austinites. With bars, eclectic stores, coffee shops, and restaurants, families living in the Zilker neighborhood will have no problem participating in local Austin fun.
Here are the numbers: $199,000 – $649,000.
Central East is exactly where it sounds. I35 separates downtown Austin from the neighborhoods and businesses located in Central East. This side of I35 is popular for several entertaining bars like Native Hostel, Lazarus Brewery, and Brew and Brew.
The homes in this area sold between $209,000 to $499,000. For a place within such easy walking distance of downtown Austin, this neighborhood is prime real estate.