The real estate markets in Austin and Killeen, Texas, have been catching the attention of homebuyers, investors, and renters alike. In 2024, these two cities offer diverse housing opportunities, each with its own set of advantages depending on lifestyle preferences and budget considerations.
Austin, known for its vibrant economy and booming tech industry, continues to be a hot spot for professionals and families, but it’s showing signs of stabilization.
On the other hand, Killeen offers an attractive, more affordable market for first-time homebuyers and military families. Let’s take a closer look at what the real estate landscape looks like in both cities this year.
Hot Neighborhoods in Austin
Austin’s real estate market has evolved into one of the most competitive in the country. While home prices have experienced slower growth in 2024 compared to previous years, the city remains a sought-after destination for tech professionals and young families. The city’s rich culture, growing job opportunities, and vibrant atmosphere continue to draw people from all over.
1. Mueller
Price Range: $350,000 - $800,000
Features: Green living, community parks, mixed-use development
Why It’s Hot: Mueller is a master-planned community that blends residential, commercial, and recreational spaces seamlessly. It’s well-known for its sustainability initiatives, green spaces, and the variety of homes available, from townhouses to single-family homes. Families appreciate the top-tier schools, and the area continues to be a favorite for those wanting access to Austin’s tech hub.
2. South Congress (SoCo)
Price Range: $400,000 - $1.2 million
Features: Iconic shopping, food scene, nightlife
Why It’s Hot: South Congress, or SoCo, is the beating heart of Austin’s lively downtown area. It's a cultural hub with boutique shops, live music venues, and unique restaurants. Homebuyers who enjoy an urban lifestyle with easy access to entertainment and cultural experiences are drawn to this neighborhood. SoCo offers a mix of historic homes and modern condos, perfect for those looking for an eclectic vibe in the city.
3. East Austin
Price Range: $350,000 - $700,000
Features: Artsy, diverse, and revitalized
Why It’s Hot: East Austin has gone through a tremendous transformation in recent years, with old warehouses converted into trendy lofts and new restaurants opening at a rapid pace. The area is highly popular with creatives, young professionals, and those seeking proximity to downtown Austin. The mix of old and new gives East Austin a distinct character that’s attractive to homebuyers seeking urban culture with a bit of history.
4. Circle C Ranch
Price Range: $450,000 - $800,000
Features: Family-friendly, suburban, close to downtown
Why It’s Hot: Located just southwest of downtown Austin, Circle C Ranch is a suburban community that offers a perfect balance of peaceful living and proximity to the city’s amenities. Families love this area due to its excellent public schools, parks, and recreational centers. The neighborhood provides larger homes with spacious yards, ideal for families looking for room to grow.
5. Zilker
Price Range: $500,000 - $1.5 million
Features: Proximity to Zilker Park, Barton Springs
Why It’s Hot: Zilker is known for its outdoor lifestyle, as it’s located near the famous Zilker Park and Barton Springs. Whether you enjoy kayaking, hiking, or attending festivals, this neighborhood provides easy access to Austin’s best outdoor activities. The area is favored by professionals and families alike who want to live close to nature but still within a short distance of downtown.
Hot Neighborhoods in Killeen
Located just 70 miles north of Austin, Killeen is an affordable alternative that continues to grow in popularity. Known for its proximity to Fort Cavazos, Killeen has long been a hub for military families. The real estate market in Killeen is significantly more affordable than Austin’s, which makes it a prime location for first-time homebuyers and investors looking for value.
1. White Rock Estates
Price Range: $200,000 - $400,000
Features: Spacious homes, family-friendly
Why It’s Hot: White Rock Estates is a well-established neighborhood known for its large homes, family-oriented atmosphere, and close proximity to Fort Cavazos. With access to excellent schools and well-maintained parks, this area is ideal for families looking for affordable housing.
2. Yowell Ranch
Price Range: $250,000 - $450,000
Features: Modern homes, parks, and walking trails
Why It’s Hot: Yowell Ranch is a suburban neighborhood that offers modern amenities in a quiet environment. The neighborhood has plenty of green spaces, walking trails, and community parks, making it ideal for families and first-time buyers. The affordability of homes here, combined with the proximity to Fort Cavazos, makes it highly desirable.
3. The Ridge at Stillhouse Lake
Price Range: $250,000 - $500,000
Features: Lake views, outdoor activities
Why It’s Hot: This neighborhood offers one of the most scenic views in Killeen, with easy access to Stillhouse Hollow Lake. Ideal for those who love the outdoors, it’s a place where you can enjoy boating, fishing, and hiking. The homes are spacious and affordable, offering a peaceful living environment away from the bustle of the city.
4. Timber Ridge Estates
Price Range: $180,000 - $350,000
Features: Affordable, strong community spirit
Why It’s Hot: Timber Ridge Estates is one of Killeen’s most popular neighborhoods for first-time homebuyers. Known for its affordable housing, low taxes, and convenient location near schools and shopping centers, it’s ideal for those looking to start their homeownership journey without breaking the bank.
5. Bella Charca
Price Range: $350,000 - $600,000
Features: Gated community, upscale homes
Why It’s Hot: Bella Charca is a luxury gated community offering exclusive living in Killeen. With beautiful homes, lush landscaping, and access to top-tier amenities like parks and walking trails, Bella Charca is a great option for those seeking a high-quality lifestyle in a peaceful, secure environment.
Tips for Buyers in Austin and Killeen
Know Your Budget: The Austin market can be competitive, and prices can vary widely. Make sure you understand what you can afford and be prepared for potential bidding wars, especially in sought-after areas like Mueller and Zilker.
Research Neighborhoods: Austin and Killeen offer diverse options for homebuyers. Whether you’re looking for a lively urban setting like SoCo or a more laid-back, family-friendly suburb like Circle C Ranch, research the neighborhood that fits your lifestyle.
Consider Future Growth: Killeen’s real estate market is on the rise, thanks to the growing influence of Fort Cavazos. It’s a good place for investment if you’re considering future potential, especially in neighborhoods like Bella Charca and White Rock Estates.
Work with a Local Realtor: An experienced realtor who knows both Austin and Killeen will help guide you to the right property. They can also help you navigate the competitive markets and negotiate better deals.
Market Outlook for Austin and Killeen in 2024
Austin: While home prices in Austin have slowed from the previous years’ double-digit increases, the city’s strong tech industry and growing population ensure demand remains steady. Buyers can expect moderate price growth and more inventory in the market, especially as interest rates stabilize.
Killeen: The Killeen market continues to be affordable with consistent price increases. As Fort Cavazos remains a key driver for the local economy, housing demand will stay strong. Killeen offers great opportunities for first-time homebuyers and investors looking for rental properties.
Frequently Asked Questions (FAQs)
What is the median home price in Austin and Killeen?
The median home price in Austin is $430,000, while in Killeen, it’s significantly lower at $220,000.
How long do homes stay on the market in Austin and Killeen?
Homes in Austin stay on the market for an average of 55 days, whereas in Killeen, they typically sell much faster, averaging just 30 days.
Is Austin’s real estate market still competitive in 2024?
Yes, although it has cooled down somewhat, Austin remains a competitive market with steady demand, especially for tech professionals and families.
How does Killeen’s market compare to Austin?
Killeen is much more affordable than Austin, with lower home prices and a growing demand due to the presence of Fort Cavazos.
Is Killeen a good place for first-time homebuyers?
Yes, Killeen is an excellent choice for first-time homebuyers due to its affordable housing options and proximity to Austin.
What factors are driving growth in Killeen?
The presence of Fort Cavazos and the city’s affordability compared to Austin are significant factors driving growth.
The Bottom Line
In 2024, both Austin and Killeen present unique opportunities for homebuyers, each with distinct advantages. Austin, though cooling slightly, remains a competitive market with strong demand driven by its tech industry and vibrant urban lifestyle.
Meanwhile, Killeen offers a more affordable option, making it especially attractive for first-time buyers and military families, with the added benefit of proximity to Austin.
Whether you're drawn to the fast-paced nature of Austin or the more laid-back affordability of Killeen, understanding the dynamics of both markets will allow you to make a more informed and confident decision in your home buying journey.
At LRG, we’re committed to helping families, veterans, and all our clients navigate real estate transitions with ease. Contact us at 210-879-8220 or message us on our website. You can also follow us or message us on Instagram and Facebook! Also, check out our TikTok!
