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Is Affordable Austin Real Estate Just a Pipe Dream?

Austin is consistently one of America's top places to live, causing demand for housing to remain steady in most areas of the city.

As the Greater Austin metro area grows, we face rising home prices. Austin and other Texas cities are among the few in the nation to continue to appreciate while we face a recession.

We face tough questions every day. Their answer will affect our children and future generations.

Top Housing Issues in Austin

1. How can we create walkable, sustainable communities as the population increases?
2. How far should we take density if we want to remain livable?
3. How can we keep our city affordable, not just for low income wage earners, but for the working class, students, artists, musicians and young professionals.

What is affordable Austin real estate? An "affordable" home in Austin is about $160-180k with payments around $1300 to $1500 per month. This can get you a 3 bed, 2 bath, 1200-1700 square-foot home with a 2-car garage.

Continue reading "Is Affordable Austin Real Estate Just a Pipe Dream?"

Posted by Dee Copeland, Principal Broker on 04/16/2008 07:35 AM

Comments (2)

austin, real estate, housing, top places

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2 Comments on Is Affordable Austin Real Estate Just a Pipe Dream?

APR

2008

While the cost of housing in Austin is on the rise it is still much lower than the majority of the country. This would be one of the main reasons why your market (and mine..the Houston market) has remained stable. The rise of property cost is just another great example of the rising cost of living. Thankfully, our Real Estate has not skyrocketed like other parts of the country and now having to pay the price for it. Good post!

I think the answer to the three questions is intertwined. Increasing density increases walkability and sustainability, especially if it integrates commercial, retail and residential uses (the best way to improve walkability is to make sure there is somewhere worth walking to). Increasing density also increases housing supply, which reduces prices and increases affordability more effective than subsidies that just shift the cost of housing from one person to another. We have to get past the suburban mindset that says every new house in my neighborhood means lower value for my house and two more cars on the highway causing traffic on my commute to work. Instead, we should free people from subjugation to their cars by creating solid public transportation and supporting increased density (VMU, duplexes, subdivision of large suburban lots, etc.).

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