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With its unique blend of cultural diversity, natural beauty, and big-city convenience, Austin, TX is thriving. Over the course of the pandemic, its popularity exploded, driving real estate prices higher than ever. Now, even as prices stabilize, the greater Austin area remains one of the most popular metro areas in America.
For hopeful homeowners moving to the “Live Music Capital of the World,” finding the right home at an affordable price can be daunting. But thanks to the area’s sprawling geography, there are still plenty of opportunities in the outer, more affordable suburbs of Austin, Texas, where charming and vibrant communities like Georgetown await to welcome new residents.
Austin Suburbs: More Affordable and More Popular than Ever
Surrounded by lush, rolling hills and bathed in 300+ days of sunshine per year, Austin is attracting new residents at record rates. In fact, according to the World Population Review, Austin is currently the fastest-growing city in the country.
A notable portion of the city’s newest residents are young college graduates and retiring baby boomers. They’re attracted to the city’s vibrant shopping, museums, entertainment options, and the promise of relatively affordable housing. However, in recent years, construction hasn’t kept pace with the population growth, leading to a housing shortage and subsequent increases in home sales and prices.
Understanding the Greater Austin Housing Market
In order to fully understand the unprecedented growth of Austin’s housing market, it’s important to consider a few important factors that have contributed to it.
- Tech Industry Boom and Job Opportunities: A burgeoning tech hub, Austin has attracted a significant influx of professionals seeking job opportunities. This influx, combined with the city’s rapid economic growth, has contributed to the increased demand for housing.
- Limited Housing Supply: A recent report from the Austin Board of Realtors highlighted a 0.6% increase in closed listings compared to the previous year. However, new listings experienced a drop of 23.7%. This data suggests that while there’s a significant demand, the supply hasn’t kept pace.
- Cultural Attractions and Quality of Life: Austin’s vibrant cultural scene and quality of life have made it an attractive destination for many. Young professionals, recent college graduates, and even retirees are drawn to the city’s shopping, museums, entertainment options, outdoor attractions and overall lifestyle.
Each of the above factors has contributed to challenges of affordability and housing availability. Even with recent declines in median price, less than 40% of homes in the Austin-Round Rock MSA fall within an affordable price range for the area’s median family income.
Benefits of Exploring More Affordable Towns Near Austin, Texas
The population boom within central Austin has pushed more and more homeowners to look further out for more affordable housing, leading to significant growth in the city’s outskirts, known as the “exurbs.” Some of the best places to live near Austin, Texas, these locales offer significantly lower property prices, less congestion, and a more suburban lifestyle. With less traffic and noise, more space, and plenty of parks and community areas, it’s no wonder that homeowners are finding the more affordable towns near Austin, Texas to be a more peaceful, sustainable alternative to the city center.
Researching Austin Exurbs
It’s never been easier to find your dream home in the best Texas exurbs in Austin. With countless online platforms, you can filter, sort, and view properties based on your preferences. Get a feel for the area, check out property prices, and read reviews from residents, all from the comfort of your couch.
Of course, you can also rely on the expertise of a local real estate agent as well. Real estate agents who specialize in Austin’s exurbs have a wealth of knowledge about the more affordable suburbs of Austin, TX including the existing neighborhoods, upcoming developments, and hidden gems.
Perhaps the most thorough option, however, is to mix all of the above. Narrow down your options with remote research, shortlist the communities and homes that catch your eye, and then take the time to visit them. Experience the communities in person, chat with potential neighbors, and imagine your daily life there. A great example is Wolf Ranch by Hillwood in Georgetown. While its online presence is stunning, you’ll regret it if you don’t visit in person and soak in the community spirit.
What to Consider When Buying in the Exurbs
When it comes to amazing houses in the more affordable Austin suburbs and exurbs, there’s an embarrassment of riches on offer. How can you make sure you’re choosing the right one? Here are a few things to consider.
- Commute Smartly: Location, location, location! Austin’s exurbs are an easy commute away from the city, which continues to swell with top employers in a variety of growing industries. Driving from Georgetown to Downtown Austin can take less than 30 minutes, putting professionals just a short distance away.
- Top-Notch Schools: If you have little ones or are planning to, the quality of local schools is paramount. Research school ratings and extracurricular offerings, and even visit a few to get a feel for the environment.
- Quality of Life: A home is more than just four walls and a roof; it’s located within a broader community that offers a specific lifestyle. Are there parks nearby for weekend picnics? Shopping centers for your retail therapy? Maybe a local gym or community center? Austin’s exurbs excel at offering great amenities for their entire communities. Here are some great examples.
- A Bright Future: Think long-term when choosing your home. Communities created by renowned developers like Hillwood Communities are designed to appreciate, keeping the future value of the home always in mind. They focus on smart development, ensuring that as the years go by, your investment only appreciates.
Explore Hillwood Communities in Greater Austin
Owning your dream home in Austin doesn’t mean you have to live amidst the action of the city center. Further out, the Austin exurbs offer a more relaxed pace of life, with livable communities, just a short drive from one of the country’s most exciting metropolitan areas. Wolf Ranch by Hillwood, which offers beautiful new construction homes, an award-winning lifestyle program, and amazing amenities, is a perfect example. If you’re interested in learning more, don’t hesitate to speak with an expert today.
FAQ
Does buying a more affordable home outside of Austin mean I will pay higher property taxes?
Not necessarily, but it requires understanding county tax structures. The City of Austin is primarily in Travis County, which has seen skyrocketing property valuations. When you move north to Williamson County (Georgetown, Leander) or south to Hays County, you generally get significantly more square footage for your purchasing dollar. While new master-planned communities in these affordable suburbs may include Municipal Utility District (MUD) taxes to fund new infrastructure, the overall monthly payment and quality of life often present a much better value than buying a smaller, older home within the Austin city limits.
Are the more affordable homes near Austin mostly older properties that need renovation?
While you can find older “fixer-uppers” in rural towns, the most popular affordable housing options are actually brand new construction homes in master-planned communities. As developers purchase land further from the city center, they are able to offer more competitve pricing on homes. Purchasing an attainable new construction home is often more financially predictable than buying an older resale home, as new builds come with builder warranties, lack immediate maintenance issues, and feature modern energy-efficient standards that drastically lower monthly utility bills.
If I move to an affordable suburb, will I have to sacrifice the outdoor “Austin lifestyle”?
No. In fact, many buyers find that moving to the Texas Hill Country suburbs actually enhances their outdoor lifestyle. As Austin proper becomes increasingly dense and congested, master-planned developers in towns like Georgetown are prioritizing nature. These communities are specifically designed to replicate the Austin vibe by preserving mature oak trees, integrating miles of hiking and biking trails, and building resort-style pools that offer a localized “staycation” experience without the crowds of Barton Springs or Lady Bird Lake.
Do affordable homes in Austin’s surrounding towns appreciate in value as well as city homes?
Yes, and often at very aggressive rates. Real estate equity is driven by the “path of growth.” As major corporations (like Samsung in Taylor or Tesla in East Austin) establish massive suburban campuses, the demand for housing in the surrounding towns skyrockets.
