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Austin home prices keep breaking new records, deepening city’s affordability crisis

This North Austin home is listed at $566K, just under the median home price in Austin. (realtor.com)

The median home price in the city of Austin reached an all-time high of $566,500 in May, jumping nearly 35% year-over-year, according to the Austin Board of Realtors' latest market report.


"Austin's housing market has become one of the most competitive markets in the U.S.," ABoR President Susan Horton said. "As new companies relocate to Austin and the city's popularity draws in new residents, the sheer demand for housing has created a critical inventory shortage, reinforcing that affordability and accessibility to housing across our region is a real concern and should be a top priority for local leaders."

Labor shortages and rising construction costs are also driving up prices—and pricing out prospective buyers.

Strong demand and double-digit price increases are not limited to the city of Austin. The five-county Austin metro also saw its median home price reach an all-time high of $465,000 in May, according to the market report. The median home price in Travis County increased 41% year-over-year to $550,000. In Williamson County, it increased 50% to $435,000. And in Hays County it increased 42.5% to $380,000.

Nora Linares-Moeller, executive director of the nonprofit HousingWorks Austin, said the housing market is already prohibitively expensive for many Austiniites. "The solution here is to be strategic about placing lower-priced homes and rentals in all parts of the city and urge our city's leaders to continue to make affordability a priority," she said.

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1923 Lake Austin mansion demolition request pitting preservationists and some neighbors against owner and city preservation office
Austin Monitor

By Jonathan Lee

The Planning Commission was split Tuesday on whether to help save an eclectic lakefront estate from demolition by zoning it historic amid concerns over tax breaks and the likelihood that a previous owner participated in segregation as a business owner.

The property in question, known as the Delisle House, is located at 2002 Scenic Drive in Tarrytown. The main house, with Spanish and Modern influences, was built in 1923 by Raymond Delisle, an optician. A Gothic Revival accessory apartment was built in 1946. The current owner applied to demolish the structures in order to build a new home.'

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Freaky Floats and other Austin food & drink news
Austin Motel

What's new in Austin food & drink this week:

  • Nau's Enfield Drug closing after losing their lease. Did McGuire Moorman Lambert buy the building, with its vintage soda fountain?
  • Nixta Taqueria Chef Edgar Rico named to Time Magazine's Time 100 Next influencer list, after winning a James Beard Award earlier this year.
  • Question: From what BBQ joint did pescatarian Harry Styles order food this week?
  • Austin Motel is opening the pool and pool bar Wednesday nights in October for Freaky Floats.
  • Vincent's on the Lake closing due to "economic conditions and low water levels [at Lake Travis]."
  • Cenote has closed its Windsor Park location. The East Cesar Chavez location remains open.
  • The Steeping Room on N. Lamar has closed.
  • Local startup It's Skinnyscored new financing for its gluten-free pasta business.
  • P. Terry's opened a new location in Kyle, at 18940 IH-35.