AUSTIN (Austin Business Journal) — Austin is often touted as the dream alternative to high-cost coastal cities, but steeply rising housing prices — and pretty much only that — are threatening the city’s reputation as an affordable place to land.
The cost of buying a home is a major roadblock for many would-be buyers. Home prices rose about 10% over the national average over the past year. The director of community affairs for Austin Habitat for Humanity explains Austin’s land development code is outdated which is causing houses to be more expensive.
The overall cost of living remains below the national average, including the cost of rent. Other costs, including groceries and utilities, also remain below the national average.
Read the full story on Austin Business Journal’s website.