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Neighborhood Market Watch: What It Costs to Buy in MLK Right Now

A wide range of prices in Central East Austin

In an ongoing series for Curbed Austin, real-estate analytics site NeighborhoodX is taking a close look at sales price ranges in different neighborhoods. Today, it’s revisiting and updating numbers in the MLK neighborhood, which it first looked at in June.

The MLK neighborhood stretches east of Airport Boulevard to U.S. Highway 183 North and is bounded by Manor Road to the north and the railroad tracks between Manor and 183 to the south.

Situated in the middle of several now-bustling thoroughfares, East MLK is mix of residences, light industrial sites, and and business centers. It is a historically largely African American neighborhood that has seen rapid changes with Austin’s most recent population boom.

The current average listing price in MLK is $258 per square foot, but the range of the individual properties reflects the changing nature of the neighborhood—from $179/square foot (1306 Luna Street, a 1,792-square-foot home with detached 570-square-foot garage apartment asking $424,900) to $414/square foot (1706 E M Franklin Avenue, Unit B, an 850-square-foot new build asking $325,000).

There are a few properties on Cometa Street that are listed on a lower per-square-foot basis than even 1306 Luna Street, but these are being positioned primarily as development sites rather than as rehabs, so the asking price represents the upside potential of the land rather than the existing value of the built space. As a result, these were excluded from NeighborhoodX’s analysis.

You can dig into the full, interactive chart at NeighborhoodX here.

Neighborhood Market Watch: What It Costs to Buy in East MLK Right Now [Curbed Austin]