Austin is a vibrant city with an ever-growing real estate market. With its booming economy, diverse culture and abundance of amenities, it’s no wonder why so many people are flocking to the area in search of their dream home or rental property. To get a better understanding of Austin’s current housing landscape, let’s take a look at some key statistics about the local real estate market: The median home price in Austin is $306,550; the median rent is $1,401; homeownership rate stands at 45%; home values have gone up by 28.1% over the past year; average price per square foot is $263; 37.7% of homes are less than 20 years old; downtown has highest average rent per square foot ($3.33); 55% residents renting homes; new construction homes’ listing prices averages around $375178 ; Austin ranks #12 among top 50 US cities for buying rental properties ; 41 % houses having three bedrooms ; 3018 Real Estate Agents present in town , Average commission rate being 5 .65 % , Residential Property Tax Rate 1 .7523 % , Market considered very competitive & Single family Homes sold @ avg Price Of 534 915 In Feb 2021 & Avg Days On Market 22 days respectively alongwith 74 percent commute time between 15 – 29 minutes while Luxury Real Estate Listing Prices averaging 2 328 400 Dollars annually and Job Growth Rate standing At 2 7 Percent last Year Respectively
The homeownership rate in Austin is a telling statistic when it comes to the real estate market in the city. It provides insight into the number of people who are able to purchase a home in the area, and how much of the population is renting instead. This statistic can be used to gauge the affordability of housing in Austin, and how it has changed over time.
Austin’s home values have gone up by 28.1% over the past year.
The fact that Austin’s home values have increased by 28.1% over the past year is a testament to the city’s booming real estate market. This statistic is indicative of the strong demand for housing in the area, and it is a sign that Austin is a great place to invest in property.
Austin Real Estate Statistics Overview
37.7% of Austin homes are less than 20 years old.
This statistic is indicative of the fact that Austin is a rapidly growing city, with a large portion of its housing stock being relatively new. This speaks to the city’s desirability as a place to live, as well as the potential for real estate investments in the area. It also suggests that Austin is a city that is constantly evolving and adapting to the needs of its residents.
The percentage of Austin residents renting homes is 55%.
This statistic is indicative of the fact that Austin is a city with a high demand for rental properties. This is important to consider when discussing Austin real estate statistics, as it can provide insight into the city’s housing market and the preferences of its residents.
Austin ranks at #12 among the top 50 US cities to buy rental properties.
The fact that Austin ranks at #12 among the top 50 US cities to buy rental properties is a testament to the city’s real estate market. It speaks to the potential for investors to make a sound return on their investment in Austin rental properties. This statistic is a clear indication that Austin is a great place to invest in real estate, and it should be taken into consideration when discussing Austin real estate statistics.
Around 41% of Austin homes have three bedrooms.
This statistic is an important indicator of the housing market in Austin, as it provides insight into the size of homes available in the area. Knowing the percentage of homes with three bedrooms can help potential buyers determine if the size of the home they are looking for is available in the area. It can also help real estate agents and developers understand the demand for homes of different sizes in the area.
There are approximately 3,018 real estate agents in Austin.
The sheer number of real estate agents in Austin speaks volumes about the city’s real estate market. With 3,018 agents, it’s clear that Austin is a hot spot for real estate activity, and that the city is a great place to buy or sell a home.
The average commission rate for real estate agents in Austin is 5.65%.
This statistic is an important indicator of the real estate market in Austin, as it provides insight into the average commission rate for agents in the area. It can be used to compare the commission rate to other cities, and to determine the potential profitability of investing in Austin real estate. Additionally, it can be used to gauge the competitiveness of the market, and to help buyers and sellers make informed decisions.
Austin has a residential property tax rate of 1.7523%.
The residential property tax rate of 1.7523% in Austin is an important factor to consider when discussing the real estate market in the city. This rate can have a significant impact on the cost of owning a home in Austin, as it can add up to a considerable amount over time. Knowing this rate can help potential buyers make an informed decision when looking to purchase a home in Austin.
Single-family homes in Austin sold at an average of $534,915 in February 2021.
The statistic that single-family homes in Austin sold at an average of $534,915 in February 2021 is a telling sign of the current state of the Austin real estate market. This figure speaks volumes about the demand for housing in the area, as well as the prices that buyers are willing to pay for a home in the city. It also provides insight into the overall trend of the market, which can be used to inform future decisions about buying or selling a home in Austin.
Luxury real estate in Austin has an average listing price of $2,328,400.
This statistic is a telling indication of the current state of luxury real estate in Austin. It reveals that the average listing price for luxury real estate in the city is quite high, indicating that the market is strong and that luxury real estate is in high demand. This information is important for anyone looking to invest in Austin real estate, as it provides insight into the current market conditions.
Conclusion
The Austin real estate market is a competitive and dynamic one, with the median home price at $306,550, median rent at $1,401 per month and homeownership rate of 45%. Home values have gone up by 28.1% over the past year while the average price per square foot in Austin is currently $263. 37.7% of homes are less than 20 years old and downtown has an average rent per square foot of $3.33; 55% of residents are renters on average. New construction homes have an average listing price of around $375,178 while luxury properties list for approximately 2 million dollars or more on average. The job growth rate in Austin was 2.7%, single-family homes sold for about 535 thousand dollars last February and days on market were 22 days typically during that time period – 74% had commutes between 15 to 29 minutes long as well as 3018 real estate agents working within city limits who charge a commission fee averaging 565 percent respectively.. All these statistics point towards a thriving housing market which makes it clear why so many people choose to call this vibrant Texas city their home.
References
0. – https://www.neighborhoodscout.com
1. – https://www.abor.com
2. – https://www.luxuryportfolio.com
3. – https://www.datausa.io
4. – https://www.zillow.com
5. – https://www.upnest.com
6. – https://www.comptroller.texas.gov
7. – https://www.businessinsider.com
8. – https://www.yelp.com
