AUSTIN – Suburbs still offer refuge from the big city and, according to a new study, even the most expensive markets usually have less-expensive options for those willing to commute.
Point2 looked at the 20 most populous and most expensive U.S. cities and mapped all 777 suburbs that are within a 30-mile driving distance from the city center. Here’s what they noted about Austin.
- The price per sf of Austin living space is $320, placing it among the top 20 largest and most expensive U.S. cities. However, many suburbs close to the city promise more space for much lower prices.
- Eighty-nine percent of the suburbs within 30 miles of the city are more affordable than the urban hub.
- With a 42 percent difference, Manor has the lowest price per sf compared with the city, followed by Lockhart, Kyle, Hutto, and Elgin, which boast prices per sf 40 percent and 41 percent lower than Austin.
- Prices are between 30 percent and 38 percent lower than the city in suburbs like San Marcos, Pflugerville, Buda, Round Rock, Georgetown, Leander, Cedar Park, and Bastrop.
- At the opposite end of the spectrum, two suburbs near Austin (West Lake Hills, Rollingwood) are out of reach for the average homebuyer with prices per sf of living space exceeding that of the main city by more than 200 percent.
- Nationwide, the most affordable suburbs are on the East Coast, but Austin made it in the top 20 largest and most expensive cities with the highest shares of affordable suburbs.