Data analytics site NeighborhoodX is conducting an ongoing study of affordability in major U.S. cities. As part of this study, it examined the most affordable market-rate properties in each neighborhood of those cities.
This chart excerpts part of their research on Austin, looking at the 10 most affordable properties in Old West Austin, which is bounded by Mopac Expressway on the west, Enfield Road on the south, North Lamar Boulevard on the east, and West 35th Street on the south.
As the name and its inclusion in the National Register of Historic Places implies, Old West Austin is full of historic homes and comprises three subdistricts: Pemberton Heights, Old Enfield, and Brykerwoods.
Many were built around the turn of or in the early 20th century. Located on a hill above Shoal Creek, it runs parallel to downtown above Enfield Road and was once considered the western edge of downtown. Today it’s a quiet, green, conveniently located area containing a mix of old, new, grand, and modest homes, including many city landmarks.
The study excludes studios, since they tend not to be viable as long-term residences, as well as properties that cannot be purchased with conventional financing, such as designated affordable/age-restricted housing, and certain listings with incomplete or contradictory information.
For Old West Austin, the 10 most affordable qualifying properties in November are asking $450,000 to $1,195,000. The most affordable was 3002 Funston Street in Brykerwoods, while the most expensive of the most affordable was 1604 Ethridge Avenue in Pemberton Heights.