Areas with the highest median home values don’t necessarily correlate with the highest home wealth, this according to mapping company ESRI, whose recent research into the financial demographics of Austin, Texas zip codes was reported by the Austin Business Journal.
Austin’s “wealthiest ZIP code” was not, for example, the upscale 78746 area of Westlake Hills and Rollingwood or even central Austin’s historic Tarrytown, but rather the south Austin zip code of 78739. 78746, with its median home value of $712,704, ranked second for wealth. 78732, 78737, and 78738 round out the top five.
The zip code of 78739 has a population of 18,352, with 5,823 households. The average household income is $159,738, the average net worth is $1,688,505, the average disposable income is $119,981, and the average home value is $411,598.
While we don’t know ESRI’s exact method of calculating affluence per ZIP code (it is proprietary,) their results nonetheless provide interesting food for thought.
Check out the interactive model to view other zip codes.
Spotlight on 78749
Home to master-planned community Circle C, Villages at Western Oaks, and Legend Oaks, among other neighborhoods, zip code 78749 has a population of 37,273, with 15,637 households. The average household income is $99,652, and the average disposable income is $79,350. 78749’s relatively moderate (by Austin standards) home value is $307,504, yet the average net worth is $753,856.
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And, here are the highest median home values by zip code:
1. 78746 (Rollingwood, Westlake Hills) $712,704
2. 78703 (Tarrytown) $643,800
3. 78730 (West of Capital of Texas Highway, north of the river) $627,543
4. 78731 (Great Hills) $548,832
5. 78738 (Hill Country Galleria/Bee Cave) $491,939