AUSTIN, Texas — Austin tops another list as a hot market for first-time home buyers.
- Austin ranked as top place to live
- One third of Texas buyers are first-timers
- Average home cost in Austin $305,000
After earning the U.S. News & World Report’s top spot as the Best Places to Live in the U.S. three years in a row, it's not surprising that Austin also ranks as one of the best real estate markets in the U.S. for first-time home buyers.
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According to a report from financial site Bankrate.com, Austin ranked number 14th overall among the nation's 50 largest metros. The study measures affordability, culture, job market, market tightness, and safety.
The Capitol City ranked near the top of the job market category at number six, making it a solid bet for newbie buyers.
According to a recent Texas Realtors report, last year, nearly one third of Texas buyers were first-timers, at a median age of 32. First-time home buyers in the city are purchasing in many different neighborhoods and price points. Proximity to work, downtown, shops, and restaurants are all important factors.
With a median home price for the Austin-Round Rock metro at $305,000, there are still some affordable areas to buy. Some of these include northern outliers like Round Rock, Wells Branch, Pflugerville, or further south to areas like Onion Creek and McKinney Falls.
Check in next week when I'll be in East Austin spotlighting the area's housing market.
Wealthiest Austin Neighborhoods
If you're looking to buy a home in Austin's wealthiest neighborhoods, the Austin Business Journal has a list.
That 2018 list has the Westlake area at the top. The 78746 zip code has more than 27,000 people with a median household income of more than $130,000 dollars. Homes there cost around $750,000.
In at number two, the West Austin area, 78733, with a population of only 8,800. With a median household income of nearly 130,000 and a median home value of nearly $530,000.
In at number three is Tarrytown's 78703 zip code. The population there is more than 20,000 with a median home value of $735,000.
New to Austin Notes
If you're new to Austin, here are a few things you need to know. . .
It's hot 10 months out of the year, and most are sweltering. Towards the end of July and through August, temperatures will pretty much be steady at 100 degrees or more. But we do have some good swimming holes to cool you down, including Barton Springs, Deep Eddy Pool and Hamilton Pool.
Traffic is also an issue. With more people moving in, it seems to get worse every day. The worst roads are Interstate 35 and Loop 1, better known as MoPac.
When it comes to food, Austin is known for its tacos. No need to explain, just check out Papalotes on South Lamar, Veracruz All Natural on Cesar Chavez, or the El Primo trailer on South First.
And of course, we can't forget the live music. Every March hundreds of thousands of people flood our great city for South By Southwest. And in October, they return for two weekends of the Austin City Limits Music Festival.