Redfin: Affordable & Balanced Austin Neighborhoods

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As Austin’s population continues to grow, real estate remains a hot commodity – with Austin-area single-family home sales and prices setting all-time records in 2015, according to the December 2015 and Year-End 2015 Multiple Listing Service (MLS) report released in January by the Austin Board of REALTORS®. In response to rising housing prices, more and more Austinites are weighing the pros and cons of living near the city center. Living farther out affords them more space at a lower premium, but there are other factors to consider, such as walkability to everyday amenities.

Redfin, a real estate brokerage that, as they put it, gives readers “a one-stop shop for everything they need to know about owning, buying and selling a home,” recently published an article about this very topic. Entitled “Why You Should Buy the Cheapest Home on the Best Block,” the article not only made some interesting points about affordability, but also named four Austin neighborhoods among the “Top 24 Affordable and Balanced Mix Neighborhoods Ranked by Walk Score and GreatSchools Score.”

The gist of the article is that homebuyers searching for affordable homes with good walkability and highly rated schools should buy the least expensive home in a neighborhood that has a mix of home prices, as these neighborhoods are “three times more likely to be walkable and have highly rated schools than are purely affordable neighborhoods (and) … the most likely to have it all: a high Walk Score and schools with above-average ratings.”

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Statistics from Redfin’s Article

However, the article went on to say that areas with that balanced mix of home prices cover just 13 percent of major U.S. cities. Of those, Redfin looked at the 20 most populous cities served by their brokerage, ranking the 170 balanced-mix and affordable neighborhoods by their Walk Scores and GreatSchools ratings. From those results, they found that only 24, or 14 percent, met both demands – walkability and great schools – which brings us to the four aforementioned Austin neighborhoods that did make the cut! They are Rosedale, Zilker, Bouldin Creek, and Highland. According to the survey, these neighborhoods have a “balanced” or “affordable” home price mix, high walkability to amenities and good school ratings.

To learn more, or to download a spreadsheet complete with the Walk Score, average GreatSchools rating and median sale price for each neighborhood analyzed in the list, click here. And to learn more about these and the many Austin neighborhoods that receive high marks for livability and great schools, give Blairfield Realty a call at 512.912.1910.

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