How Much Does Land Cost in Austin?

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A large number of people moving into the Austin area from other parts of the state or country have a simple request attached to their home search: "We really want a house with some land. Maybe an acre or two." Sometimes families are looking for more than a few acres to spread out. Outstanding! We do have properties with land in Greater Austin. But this comes with a simple caveat--land is not free here in the Austin area. In fact, many families are surprised at the actual cost of dirt near downtown Austin.
So, what does land cost in the Austin area? Well, if you draw concentric circles around downtown Austin and extend those circles out to the edges of what we know as "Greater Austin" today, you will discover that the cost of dirt near downtown starts around an effective average cost of approximately $1.5M an acre. Now, you may only find a small lot near downtown that is only a fraction of an acre, but this is the current effective starting price point today. As you move away from downtown Austin, the price of land drops. You can see the price drop every few blocks near the downtown area and as you get closer and closer to the outskirts of Austin, prices fall to as low as $60,000 - $100,000 per acre--in Austin. Then, you have to consider the extended-burbs of Greater Austin. When you get out into the far reaches of the area that we call Greater Austin where you can still find some small farms and Ranchettes, you may find undeveloped land for as little as maybe $10-15,000 per acre. So, if you are looking for large acreage properties in the area, you have some options and like everything else in this business--land costs have trade-offs.
Every area and every community is different. The free market still reigns in Austin Real Estate; there are no easy rules that say you will pay $1M an acre within a mile of 6th Street or $500,000 an acre a mile north of Hyde Park. Every community has unique value propositions and every area of Austin stands alone. The bottom line is--you always pay for what you get in Austin Real Estate. Don't be confused--not everyone gets what they pay for--but you do pay for what you get in Austin Real Estate. 
If you are looking for property with land attached to it in the Greater Austin area--make sure you and your budget are ready to pay for your new home. 
If you are looking for a new home in the Greater Austin area--give me a call. Let's Talk.
Tim Thornton