60K gap between average buyer and median home price.

[Matt Stricklen]

"SmartAsset reports that the average Austin household can afford a home priced at $317,000.

However, the median home value in the area, ... is $378,300"

Where do we go from here?

faster rent growth?

bubble bursting ? ( unlikely)

https://austin.culturemap.com/...

[Alex G.]

$60K is only $240/month P&I on a 30-years 2.5% loan. The gap can probably be overcome by most families who are that close.

More importantly, averages never tell the full story. In almost any neighborhood there exist a price differential due to a property condition, sq.ft. size, bed/bath configuration, lot size, etc. So those who can't qualify would have to either buy a home that needs some work, or get a smaller home in the same area, or get a 3/1 instead of 3/2, or adjust their appetite and settle on buying in a lower priced sudivision.

I closed on a N. Austin fixer today for $154K. It needs a lot of work and it's only a 2/1. But I'm not paying anything close to what SmartAsset would suggest it should sell for.