The story of this market
The typical home in ZIP 78721 sells for about $515,000, or $354 per square foot.
Prices are down 6.4% from a year ago, which gives buyers more room to negotiate. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $2,450 a month.
ZIP 78721 — Austin
The 78721 housing market is currently experiencing a period of price correction with a median sale price of $515,000, reflecting a 6.4% year-over-year decline. Market activity remains balanced with limited inventory and moderate demand, though several metrics such as tax rates and specific school performance data were not available for this ZIP.
This ZIP is well-suited for commuters and buyers seeking proximity to downtown Austin, as well as investors interested in the ongoing redevelopment of East Austin neighborhoods.
Median prices moved down 6.4% year over year.
Homes spend a median of 38 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
ZCTA 78721, Travis County TX
The area is experiencing ongoing residential development and infill construction, particularly in the MLK-183 neighborhood corridor.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Located in East Austin, this ZIP offers relatively direct access to downtown Austin and major employment hubs via US-183 and nearby transit corridors.
The area features proximity to local parks and green spaces typical of East Austin, with access to regional shopping and dining districts within a short drive.
The rental market shows steady demand with a median asking rent of approximately $2,450 per month.
The local economy is tied to the broader Austin metropolitan area, which is anchored by technology, government, and education sectors.
Data sourced from US Census Bureau ZCTA profiles.
- Kalahari Indoor Water Park4.417.3 mi
- Cidercade Austin4.43.8 mi
- Austin’s4.113.1 mi
- Austin Aquarium413.8 mi
- Museum of Illusions Austin4.58.9 mi
- Moody Center4.42.9 mi
- Circuit of The Americas4.69.9 mi
- The Oasis On Lake Travis4.214.6 mi
- Mozart's Coffee Roasters4.56.3 mi
- Alamo Drafthouse Cinema South Lamar4.55 mi
- Circuit of The Americas4.69.9 mi
- Texas Capitol4.73.5 mi
- Zilker Metropolitan Park4.85.5 mi
- Mozart's Coffee Roasters4.56.3 mi
- McKinney Falls State Park4.66.7 mi
- Texas Capitol4.73.5 mi
- Palmer Events Center4.54.3 mi
- Bullock Texas State History Museum4.73.4 mi
- Thinkery4.62.1 mi
- Blanton Museum of Art4.73.4 mi
- Zilker Metropolitan Park4.85.5 mi
- McKinney Falls State Park4.66.7 mi
- Lady Bird Johnson Wildflower Center4.712.9 mi
- Pease District Park4.84.2 mi
- Zilker Botanical Garden4.65.4 mi
- Texas Rowing Center4.65.2 mi
- Festival Beach Boat Ramp4.73.3 mi
- Lake Austin Marina4.56.4 mi
- Waller Creek Boathouse4.63.7 mi
- Boats and Buses57.3 mi
- Topgolf Austin4.48.9 mi
- Jimmy Clay Golf Course4.36.8 mi
- Morris Williams Golf Course4.11.3 mi
- Butler Pitch & Putt4.54.5 mi
- Barton Creek Country Club4.610.7 mi
- Barton Creek Square4.47.6 mi
- The Domain4.69.2 mi
- H-E-B4.45 mi
- Domain NORTHSIDE4.69.2 mi
- H-E-B4.55.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A central residential area serving as the primary community hub for the ZIP.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).