It’s unlikely to surprise anyone who has looked to buy or rent in the city of Austin recently, but Austin came in as the most expensive market in the state of Texas in a recent mid-year report, Culturemap Austin reports.
For January through June 2017, 48.7 percent of the houses on the market in the Austin area were priced at $300,000 or more. Compare that to the Dallas-Fort Worth area which was the second most expensive area with 37.8 percent of listed homes over $300,000, Houston which had just 31.4 percent of homes at that higher price tag, and San Antonio where only 23.6 percent of homes for sale were listed at $300,000 or higher.
The Austin area also had the highest percentage of houses at $1 million or more with 2.3 percent. Houston was second with 1.9 percent, Dallas-Fort Worth had 1.8 percent and San Antonio was the lowest with 0.5 percent.
Austin’s median home price was also the highest in the state at $295,000, an increase of 5 percent over a year ago. The Dallas-Fort Worth median price was $254,269, Houston’s was $229,000, and San Antonio’s was $210,000.
Austin’s median monthly rent was also tops in Texas at $1,139. Dallas-Fort Worth’s median rent was $1,090, Houston’s was $1,000, and San Antonio’s was $886.
Experts warn that the effects of Hurricane Harvey on Houston’s housing market are still to come. Houston’s housing market is 25% of the state’s overall.