Yahoo Finance What Austin Home Can You Buy for Less Than $300,000?
Austin, Texas' average home price hovers around $300,000, but that can buy you a range of property types and amenities, depending on where you live.
"You could get an East Austin home close to downtown with two bedrooms, one bathroom and 720 square feet. Or a new house in Southeast Austin featuring granite countertops and stainless appliances with four bedrooms, three bathrooms, 2,700 square feet and a work commute," says Matt Menard, broker and owner of Austin Real Estate Experts.
U.S. News spoke with a few of Austin's top real estate agents, as identified by real estate technology company Agent Explore (a U.S. News partner), to identify the kinds of properties you can buy at the city's average home price.
A North Austin single-family home with exceptional schools
North of U.S. Route 183, east of MoPac Expressway (Highway 1) and west of Interstate 35 is North Austin. There, $300,000 buys you a partially remodeled single-family home with 1,400 to 1,700 square feet, three bedrooms, two bathrooms and a lot on the smaller end. This residential family area with peaceful neighborhoods also includes The Domain shopping center, a northern hot spot with high-end stores, restaurants and nightlife. Additionally, there's Walnut Creek Metropolitan Park, offering hiking trails, playgrounds and pools.
[Read: 5 Up-and-Coming Neighborhoods in Austin to Buy a Home.]
"In these neighborhoods, if you need additional square footage for $300,000, you're likely to get a significant fixer-upper," explains Aaron Jistel, co-founder and owner at ListingSpark. Mostly though, he says the homes and lots are smaller and turnkey.
Close by is another kid-friendly area, Anderson Mill, with parks and shopping, as well as close proximity to grocery stores, restaurants, the Lakeline Mall and an Alamo Drafthouse Cinema location. Homes in this northern area are a bit bigger, averaging 1,900 square feet, and are connected to the desirable Round Rock Independent School District.
An East Austin condo or town house adjacent to downtown nightlife
"Town home and condo communities have sprouted along East Austin, and you could get a nice two-bedroom, two-bathroom condo for under $300,000," Menard says. Near downtown, there are a growing number of new condo developments that allow a $300,000 budget to go far in terms of space and amenities.
This bustling and energetic neighborhood is adjacent to the center of Austin and close to the University of Texas at Austin. Public transportation runs through East Austin, and many of the happening areas are a short walk away. A good mix of businesses, stores and residences fill up this spot, providing an enjoyable city living environment for buyers who want a short commute to work, nightlife and entertainment.
[Read: A First-Time Buyer's Guide to Austin.]
Shops, hiking and biking trails, parks with pools, and Lady Bird Lake surround new and old developments in this up-and-coming neighborhood. Additionally, some of the popular Sixth Street restaurants and bars inhabit the area, which has a wealth of ongoing activities and neighborhood upgrades. Home values are also continuing to rise in East Austin.
A South Austin single-family home near shops and restaurants
"If you go south of [Texas State] Highway 71, up to the Slaughter area between [Texas State] Highway 35 and MoPac, that's a really good area," Jistel says. "You can go to Southpark Meadows, Westgate [Shopping Center] and Circle C [Ranch], which have shopping and restaurants, outdoor concert venues and movie theaters." South Austin, a family-friendly area of the city, has quiet neighborhoods with grocery stores nearby, plus plenty of parks and green space.
Traditional ranch-style single-family homes with 1,500 to 1,800 square feet, two bedrooms and three bathrooms are common in South Austin, and certain developments feature newly built houses with granite countertops, stainless steel appliances, three bedrooms and two and a half bathrooms.
[Read: What's It Like to Live in Austin?]
"Unless someone has to be near downtown, I think new construction in the suburbs is extremely appealing in that price range," Menard says. "One of the great things about buying a new home is there aren't multiple-offer situations. If it's not sold, you get it at the for-sale price, and you don't have to end up spending over-asking or have your heart broken because every home has two or three offers."
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