January 16, 2017

Austin boasts more million-dollar homes than anywhere else in Texas

By John Egan, Culturemap

When you think of luxury homes in Texas, Dallas or Houston might be the first places to pop into your head, given the sheer number of millionaires and billionaires living there. However, laid-back Austin actually is the luxury home leader among the state’s four major metro areas, a CultureMap review of U.S. Census Bureau data shows.

In the Austin metro area, 19.2 of every 1,000 owner-occupied homes — houses, condos, and other dwellings — are valued at $1 million or above, according to Census Bureau estimates for 2011 through 2015. Next in line is the Houston metro area, where that figure is 15.2 out of 1,000. After that is Dallas-Fort Worth, at 13.5 out of 1,000. At the bottom of the luxury ladder is the San Antonio metro area, where 8 out of 1,000 homes are valued at $1 million-plus.

Of course, some of Austin’s claim to the luxury home crown can be attributed to the region’s comparatively high prices for homes. In the third quarter of 2016, the median sale price of an existing home in Austin was $284,000, according to the National Association of Realtors. Among the four major metros in Texas, that was the top price tag for an existing home. Austin was followed Dallas-Fort Worth, $230,500; Houston, $217,000; and San Antonio, $212,300.

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