- Property values in Austin have soared over the past 25 years, an analysis from SmartAsset found.
- The study analyzed average home value data in metro areas from 1998 to 2022.
- Texas dominated the top 10, with five of the top spots taken by areas in the state.
Home values in the Austin area have soared over the past 25 years.
The Texas city snagged the top spot along with neighboring areas Round Rock and Georgetown in a recent study from SmartAsset. The financial technology company found property values in the metro area had jumped 354% since 1998.
The study analyzed average home value data in 400 metro areas between 1998 and 2022, calculating collective increases to measure growth and drops in value to measure stability.
Property values across the cities increased by an average of 154% from the first quarter of 1998 to the fourth quarter of 2022, per the study. Over the same period, there was an 80% cumulative inflation rate, according to SmartAsset.
Texas dominated the top 10 areas for growth, with five of the top spots taken by areas in the Lone Star State. These included Dallas, San Antonio, Odessa, Midland, and Houston. Two areas in Colorado — Boulder and Fort Collins — also saw above-average home value growth.
Home prices have been steadily increasing in Texas, shooting up 18.6% year-over-year in 2021, a study from Texas A&M University found. In December, the National Association of Realtors predicted that several Texas cities could become some of the hottest real estate markets in 2023 because of their strong job growth, relative affordability, and remote-work opportunities.
Here are the metro areas that have seen the biggest property value growth in the last 25 years: