ZIP 78723 covers residential neighborhoods in Austin, located within Travis County, TX, part of the broader Austin housing market. The typical home value in ZIP 78723 in the Austin housing market is $479,296, with a typical rent of $1,883 per month. That puts the local home-value-to-annual-rent ratio at 21.2.
Key stats
- ZIP 78723 is around the 44th percentile of tracked local ZIPs for home value.
- ZIP 78723 is around the 98th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 21.2.
- 33 homes went pending for every 100 new listings in the current reading.
- Supply and buyer competition did not produce a clear easing or tightening split.
- Typical home value
- $479,296
- Typical rent
- $1,883
- Homes for sale
- 214
- Buyer competition
- 56
- New listings
- 52
- Homes going pending
- 17
- Listings with price cuts
- 31.1%
Price and rent in ZIP 78723
ZIP 78723 is around the 44th percentile of tracked local ZIPs for home value. ZIP 78723 is around the 72nd percentile of tracked local ZIPs for rent.
ZIP 78723 home value & rent trend (past 12 months)
Typical home value fell 4.5% over the past 12 months, from $502,063 to $479,296. It rose in 0 of 11 monthly readings.
Typical rent rose 0.5% over the past 12 months, from $1,873 to $1,883. It rose in 7 of 11 monthly readings. The largest monthly gain was +0.9% in June 2026.
How ZIP 78723 compares to the metro
ZIP 78723's typical home value is 14.4% below the metro median of $559,762. ZIP 78723's typical rent is 10.9% above the metro median of $1,698. ZIP 78723's buyer competition is 24.4% above the metro median of 45.
Supply, pending activity, and competition
ZIP 78723 is around the 83rd percentile of tracked local ZIPs for for-sale inventory. ZIP 78723 is around the 98th percentile of tracked local ZIPs for buyer competition. 33 homes went pending for every 100 new listings in the current reading. Supply and buyer competition did not produce a clear easing or tightening split. Over the 12 readings on record, inventory moved between 166 and 221 — a 55-point spread across 41 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 78752, 78722, 78751, 78721.
Continue your market research
- Is Austin Housing Market Cooling?Read the related local market analysis.
- Is Austin a Buyer's Market?Read the related local market analysis.
- Compare 78723 vs 78652Compare this market with another tracked ZIP or peer group.
- Compare 78723 vs 78701Compare this market with another tracked ZIP or peer group.
- Compare 78723 vs top 5 ZIPsCompare this market with another tracked ZIP or peer group.
- ZIP 78752 housing marketReview a nearby local market with the same core measures.
- ZIP 78722 housing marketReview a nearby local market with the same core measures.
- ZIP 78751 housing marketReview a nearby local market with the same core measures.
- Austin Metro housing market overviewReturn to the broader parent market.
78723 Housing Market Overview FAQ
What is the typical home value in ZIP 78723?
The typical home value in ZIP 78723 is $479,296 in the latest monthly reading.
What is the typical rent in ZIP 78723?
Typical rent in ZIP 78723 is $1,883 per month.
What is the home-value-to-rent ratio in ZIP 78723?
ZIP 78723 has a home-value-to-annual-rent ratio of 21.2.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules