The Daffan/Hornsby Bend area, which encompasses the 78724 zip code and is located east of Austin between U.S. 290 and Highway 183, ranked #4 on a list of the top five suburbs out of the country’s largest metroplexes. The area is close to Walter E. Long Lake and the Travis County Expo Center.
The area is attractive to first time home buyers for its affordability and proximity to downtown, according to the report. Properties in this area spend 45 days on the market on average, 14 less than properties in other cities. Listing prices went up 27.1% a year over the last three years, which puts far east Austin as number two on the list of the zip codes with the biggest price increases in the Austin area.
To determine the rankings, Realtor.com designated zip codes in the fifty biggest metropolitan areas as urban or suburban by density. Then the suburbs were ranked using a score that incorporated household growth, listing price growth, and the supply and demand for housing in an area. They included just one zip code for each metropolitan area.
The top spots on the list belonged to suburbs near Denver, Dallas-Fort Worth, and San Francisco.
While in the past, the suburbs were thought of as the domain of young families who were attracted by the highly rated schools and big houses, with the shortage of housing and the high prices in urban areas, more and more people of all ages are looking at the suburbs as an attractive alternative.