The Austin real estate market has always been robust. Historically, Austin has appreciated at 5-6% per year. Austin has boomed post-COVID and it's natural to be concerned that our pricing has become inflated. The easiest way to see if our pricing makes sense is to compare Austin to other metro areas in the US. When you compare Austin to other metro areas, it becomes relatively clear that we're still a bargain.
Housing Affordability Index (HAI) takes into account the median income in a given area and the qualifying monthly income necessary to purchase a home with a 20% down payment. The higher the HAI, the more affordable the area. When you take this into account, Austin's value proposition actually becomes even more attractive, as our median income is higher than most cities with comparably priced homes.
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