Is Austin Overpriced?

As the madness of the Austin real estate market in 2021 continues, the question of “is Austin starting to become overpriced?” often comes to mind. Austin typically has a fairly low cost of living in comparison to other large metropolitan areas, making it a favorable place for employers as well as homeowners. However, in the midst of these unprecedented times, appreciation numbers have jumped. To get a better understanding of where Austin’s rising prices stand in comparison to other cities, you can see in the graph below how the median price would compare after a 30% increase.

For reference, the 30% appreciation places Austin at relatively the same price as Portland, more expensive than Nashville or Charlotte, and less expensive than Denver. The market is rapidly changing, but it appears that Austin will remain in a comparatively affordable price range for the time being.