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The Affordable Austin Real Estate Market
Today we want to talk a little about some ideas that have been floating around in the news. There have been a lot of articles written lately saying that the Austin real estate market is overvalued.
We and our fellow Realtors don’t see that at all. If anything, we think the Austin market is properly valued and even a little below where we expect the value to be. It is still a great time to buy, and even invest in rental properties in Austin.
If you look at the affordability ratios, Austin is more affordable than the country’s average. We are nowhere near the most expensive areas in the country. We are ranked 31st overall in affordability as a metro, which is pretty low. The average income required to buy a home in Austin is $55,718.
I hope that this helps explain things to you in a little more depth. Check out the charts below to get a little better picture of our market.
If you have any questions, feel free to give us a call or send us an email. We look forward to hearing from you soon!