Report: Austin home prices grew 85 percent since 2014

A new construction industry report finds Austin home prices have risen 85 percent over the past decade. Industry analysts Construction Coverage found that between 2014 and 2024, the median home price in Austin increased from $277,972 to $515,342 – a $237,000 change. Over the same time period across the U.S., home values have increased by more than 95 percent, far outpacing wage growth (44 percent) and inflation (33 percent). While Austin’s growth falls slightly below the national average, it highlights the growing affordability challenges for would-be homebuyers in the region. The report found Austin has a home price-to-income ratio of 6.0, indicating that the median home price is six times the median annual household income. This ratio is higher than the national average of 4.7, suggesting greater affordability challenges for residents. Despite rising home prices, the report noted Austin is among the major U.S. metropolitan areas building more affordable new housing, with an average construction cost of $176,303 per new housing unit, which is lower than many other large metros.