Home prices in the Austin Metro area compared to previous years and compared to other state.

Austin Area Home Prices Are Sky Rocketing

By Ashley Sykes

May 2021

Over the past decade or so, Austin, Texas and its metropolitan area has become a popular area to live. With the location's popularity rising, home prices have also increased due to the areas high demand and lack of supply. It is said the metro area does not seem to be building homes fast enough to keep up with the demand.

Austin's high desire has a lot to do with it laid-back and weird vibe. The town has rapidly turned into a big city over the years, but still radiates a small-town feel. On the weekends you can visit farmers markets and popup shops throughout the heart of the city, try out many different restaurants and concepts, exercise on the many hike and bike trails, hang out on one of the lakes, and of course attend live music shows and music festivals. As someone who was born in Austin and has lived in Austin my whole life, I am slowly coming to the realization I may not be able to afford or purchase a home with an Austin address and will need to look to the outer surrounding suburbs.

Infographics from Austin Board of Realtors with unbelievable stats on the Austin area housing market.

The Austin area is one of the fastest growing big metropolitan cities in the country. According to the U.S. Census Bureau, there has been a 34% increase in the Austin metro population since 2010. But the desire to live in a desirable city comes with a price. Elon Musk Austin referred to as the next biggest boomtown in the United States.

Austin Metro Area Average Home Prices Over the Years

*2021 averages from January 2021 - May 2021

- Information gather from Redfin

The average price of homes in the area has risen nearly 25% in 2021 compared to the average home price in 2020. Homes are selling for $100,000 more than what they were selling for last year. Austin area homes are now, on average, selling for close to the same average price of a home in California.

Median Home Prices For Every State In The U.S.

The median home price in other states as a whole are not reflecting the same trends as the Austin area. According to data pulled from World Population Review and Business Insider, the average prices of homes are projected to trend downward this year compared to 2020. The average home price in the United States ranges from $119,000 in Mississippi to $615,300 in Hawaii.

The housing market in the united is none the less, still booming all around. With interest rates at an all-time low, right now is the perfect time to purchase a home no matter the state you live in. If you are able to find a home in this wild market before someone else swoops in and makes an undeniable bid and you are able to afford the price.

The Author

Hi there! I am Ashley Sykes, a graduating senior studying Digital Media Innovation at Texas State University in San Marcos, Texas. I created this data project for a Coding and Data Skills for Journalists course. This project focuses on gathering data and structuring the data for storytelling.