It’s no secret that there is a creative and economic explosion happening in Austin, Texas. People from all over the US and even other countries are flocking to this city for so many reasons and so quickly that the housing market has seen dramatic changes in recent years. 

Is Austin the New Silicon Valley?

The young population, booming industries, and year-round sun in Austin have made this city a highly desirable place to live — with particular growth economically and demographically in the last 5-6 years. The tech industry has played a huge role in attracting transplants from all over the country to move to Austin; and because of its tech and startup-heavy culture many have started referring to Austin as the “Silicon Valley of the South” or, with the more apt moniker, the “Silicon Prairie.” 

Much like it’s Bay Area sibling, Austin’s real estate prices are soaring. While a quickly growing job market and greater cultural relevance has made Austin a popular city for people to move to, this influx has caused a particularly sharp increase in demand across the housing market. 

Understanding the Austin Housing Market

To illustrate just how much the housing market has changed since 2015, we looked at the median home price at two points during each calendar year as well as the city’s population count for each year. 

The data reflects the population and housing prices of the City of Austin, not the Greater Austin Metro Area. Population counts are as of April 1st of each year and have been acquired from the City of Austin’s demographic data. Median home prices are as of April 30th and August 31st of each year and have been acquired from the Zillow Home Value Index (ZHVI).

The Median Home Price in Austin Keeps Increasing

2015: ATX population 888,204

•  Median home price

• April:  $307 253

• August: $315 608

2016: ATX population 913,917

• Median home price

• April: $334,772

• August: $338,531

2017: ATX population 937, 065

• Median home price

• April: $351,723

• August: $354,128

2018: ATX population 955,094

• Median home price

• April: $365,349

• August: $371,605

2019: ATX population 972,499

• Median home price

• April: $383,573

• August: $386,997

2020: ATX population 992,208

• Median home price

• April: $406, 054

• August: $419,203

2021: ATX population 1,010,835

• Median home price

• April: $508,630

• August: $594,446

How to Navigate the Austin Real Estate Market

With such constant change in the housing market and steadily increasing prices, it can be daunting to buy a home in Austin right now. Don’t worry — the Dochen REALTORS team is filled with experts in the Austin housing market and can help you navigate the process with ease. You can confidently put your trust in Dochen to find you the home of your dreams and keep the process as stress-free as possible.