The rapidly rising price of single-family homes in East Austin has left homeownership out of reach for its existing low-income population. From 2011 to 2015, growth rates of home sales prices in East Austin were two to four times that of Travis County and the Austin-Round Rock MSA.
While rooted in single-family housing, lack of affordability is also deepening in East Austin’s apartment sector. The widening divide between housing costs and household income has spelled disaster for East Austin’s affordability and forced many of its residents to relocate farther from downtown.
The effect of explosive job and population growth on East Austin’s single-family housing market was outlined in “East Side Story” (Center Publication 2139). This article delves deeper into the area’s overall housing affordability challenges and how they will impact East Austin’s demographics, issues that more and more Texas cities will face.
Article from the Real Estate Center