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(Shutterbug)
Take a peek at these five gems on the market now.
164 Pear Tree Lane | $1,190,000
The front of the house looks castle-esque. (Chris Rodriguez)
In the South Austin Parten community, this castle-like four-bedroom, three-and-a-half bathroom stunner puts you just minutes from Austin, Dripping Springs and other nearby communities. Stark white and black contrasting features give the interiors a clean look, while a large curving staircase serves as a centerpiece for the ground floor. The chef’s kitchen is spacious, facing the living room and multiple windows, and immediately draws the eye. Upstairs you’ll find a spa-style bathroom, game room with a wet bar and Hill Country Views.
This listing is held by Adam Zell.4515 Avenue D | $2,500,000
The home rests on concrete blocks to protect from inclimate weather. (Mandy Harris/Urban Oak Photography)
This hyper-modern, 3,300-square-foot Scandinavian-styled home is a paradise for natural light in Hyde Park. With four bedrooms and three-and-a-half bathrooms spread across one story, the home rests on concrete columns to protect from extreme climate conditions. Inside, you’ll find crisp, clean trim in the open-plan kitchen with built-in luxury appliances and a walk-in pantry. Lofty 12-foot ceilings and gigantic windows set the tone, with a wet bar and second living room for entertaining. When you retire to the master bedroom, enjoy a warm bath in the soaking tub or enjoy the multi-output shower.
This listing is held by Austin Stowell.
3405 Rain Forest Drive | $2,995,000
The Westlake home caps at three floors. (Shutterbug)
In the heart of Westlake, this stacked three-story new build is a sprawling 4,483 square feet with five bedrooms and four-and-a-half bathrooms. The home is centrally located and full of natural light, especially on the open concept first floor, which includes the kitchen, casual dining space and living area. The third floor has a bedroom and loft, perfect for the at-home worker.
This listing is held by Jen Templeton.
2710 Hillview Green Lane | $2,399,000
A timeless brick exterior sets the tone of the house. (Shoot2Sell)
This 3,539 square foot, three-bedroom, three-and-a-half bathroom Tarrytown townhouse is newly remodeled but still holds on to its vintage charm. Bright white cabinets, a green accented island and quartzite countertops in the kitchen give the space a cheery feeling. Entering on the second floor, you’ll have to walk downstairs to get to the bedrooms, which include ensuite baths and walk-in showers. The third level bonus room is the perfect place for an at-home office.
This listing is held by Cindy Fowler.1946 Backbone Ridge | $6,400,000
The symmetrical home looks enormous from above. (Twist Tours)
Just outside Austin in the sleepy town of Wimberley, the Backbone Ridge Ranch is one of the city’s most “iconic and pristine” properties. On nearly 50 acres of land, the house takes you into nature without getting too far from nearby cities. With 4,369 square feet, six bedrooms and six-and-a-half bathrooms, floor-to-ceiling windows effortlessly light the entire space. You’ll feel like a celebrity chef while cooking in the kitchen, even more so entertaining from the outdoor kitchen and living space. The 33,000-gallon quarried limestone pool is perfect for those hot Hill Country summers!
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Rent in Austin apartments have risen 26% from January 2020-January 2021. (City of Austin/Facebook)
The city had the 7th highest jump in rent prices among the 101 U.S. cities studied. With a median price of $1,550 for a 1-bedroom rental, Austin jumped up three spots from a year prior coming in 26th on the list—the highest of all Texas cities studied.
Austin's median one-bedroom rent increased more than any other Texas city from January 2020-21. (Zumper)
Chart-toppers like New York City still have more than double the average Austin rent ($3,260). But for many traditional high-dollar areas, that gap is narrowing: rent in San Francisco, the Silicon Valley giant with the second-highest rental prices on the list, rose by 6.3% year-over-year, while all nine California cities with higher rent that Austin saw a change of 15% or less.
As companies and priced-out migrants reportedly flee to less-expensive markets, new growth hotspots in states like Florida and Arizona skyrocketed, including Miami (25.8%), Orlando (27.6%) Tampa (26.2%), Scottsdale, AZ (27.6%) and Gilbert (20.9%). Cities dubbed as mini Silicon Valleys, including Austin, grew as well: Boston's 1-bedroom rent leaped by 26.5% to third on the list, while Boise, Idaho rose by 24.3% and Las Vegas leaped up nine slots with a 27.5% increase in two-bedroom rent.
No longer a cheap city in the historical cheap state of Texas, Austin rent remains far from New York standards but is still nearly triple cities like Wichita, Kansas, which finished out the list with an average rent of $660. Increases in rent have come hand-in-hand with an influx of newcomers—Austin is one of America's top 20 "boomtowns", according to frequent vistor and billionaire Elon Musk and a December 2021 New York Times report.
And while a pandemic rent surge has been seen nationwide, some have noticed that more traditionally affordable cities like Austin have seen increases much more quickly. University of Texas associate economics professor Peter Bergman found that more than half of low-income Austin residents worry about getting evicted in the next year as rent increases coincide with inflation and income losses for many.
Fueled by new tech HQs, a nationwide pandemic surge in rent and a booming job market, Austin rent will likely continue to rise, especially as satellite cities like Cedar Park, Kyle and Buda continue to grow alongside the city.
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