Data analytics site NeighborhoodX is conducting an ongoing study of affordability in major U.S. cities. As part of this study, NeighborhoodX 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 Zilker.
The Zilker neighborhood starts on the south shore of the river and runs south between Union Pacific railroad tracks/South Lamar Boulevard to its east and Robert E. Lee Road/Rabb Road to its west, and is bordered by Barton Springs Skyway to its south.
Zilker contains many of Austin’s attractions, including Butler Park, Umlauf Sculpture Garden, and many of the cities happening (and often iconic) restaurants and entertainment venues
The study excludes studios, since the tend not to be viable as long-term residences. The study also excludes properties that cannot be purchased with conventional financing, affordable/age-restricted housing, and certain listings with incomplete or contradictory information.
For Zilker, the 10 most affordable such properties in November are asking $199,000 to $649,000. The most affordable was 1422 Collier Street #1110, and the most expensive of the most affordable was 2409 Ann Arbor Avenue #A2
On a per-square-foot basis, these range from $223/square foot (2409 Ann Arbor Ave. #A2) to $535/square foot (2014 De Verne Street).
"Interestingly, this also highlights the importance of the metrics one uses to analyze properties. Using listing price, the most expensive of the most affordable is 2014 De Verne Street, at $649,000. But using price per square foot, the same property is the most affordable, at $223 per square foot," said NeighborhoodX co-founder Constantine Valhouli of the study.