How Austin Home Values Stack Up To The Rest Of Texas

How Austin Home Values Stack Up To The Rest Of Texas

How Austin home values stack up to the rest of Texas

By Arden Ward



1209 Salina Austin home for sale exteriorAustin's median home price is the highest in Texas. Photo courtesy of GoodLife Realty

A new report from Zillow says Texas' booming real estate growth was on trend with the rest of the U.S. in 2015.  

The report, which includes info for 35 U.S. metro areas, shows that although total home value growth slowed in 2015, "there was still a significant increase in overall value, and many markets are more valuable than they’ve ever been." In fact, Dallas saw double-digit growth, and Houston is more valuable than ever before.

Just how valuable are Texas' top markets? The cumulative value of homes in Austin for 2015 was $155 billion. It's a staggering number, but it pales in comparison to Dallas-Fort Worth and Houston, where home values hit $411 billion and $381 billion, respectively. San Antonio's value was the lowest in Texas, $115 billion. 

Despite a lower cumulative value, Austin homes had the highest prices in the state. According to Zillow's November home value index, the median Austin home value was $241,200. Values in Dallas-Fort Worth, Houston, and San Antonio were $175,600, $169,100, and $147,600, respectively. That's below the median U.S. home value of $183,000.

Similarly, the total rent paid in Dallas-Fort Worth ($12.8 billion) and Houston ($13.1 billion) was more than double that of Austin ($5 billion). However, renters in the Capital City faced the highest prices. In November, the median rent in Austin was $1,683, compared to $1,496 in Dallas, $1,578 in Houston, and $1,305 in San Antonio. Nationally, the median rent was $1,382.

Zillow reports that Americans shelled out nearly $20 billion more in rent in 2015 than 2014 for a record-breaking total of $535 billion. Home values nationwide grew $1.1 trillion in 2015 to an estimated $28.5 trillion. 

See Original Article at: http://austin.culturemap.com/news/real-estate/01-03-16-austin-home-values-rent-prices-comparison-zillow/


Tricia Shirk Headshot
Author:
Phone: 541-419-7703
Dated: January 6th 2016
Views: 170
About Tricia: I was raised in a small town in Central Oregon. I relocated to Austin TX in 2014 to pursue my real e...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Real Estate 2018 What To Expect - Real Estate 2018: What to
Achieve Feng Shui In You Space - If you take the time to dig into
From I DO To SOLD - Newlyweds are saying "I do" to
Ideas For Accent Walls - An accent wall can totally

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP and Associates REALTORS
7000 N. Mopac Expy Ste 190
Austin, TX
512-213-0377
469-287-5503

Other Locations