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 $468,904, with a typical rent of $1,854 per month. That puts the local home-value-to-annual-rent ratio at 21.1.
Key stats
- ZIP 78723 is around the 44th percentile of tracked local ZIPs for home value.
- ZIP 78723 is around the 68th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 21.1.
- 34 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
- $468,904
- Typical rent
- $1,854
- Homes for sale
- 209
- Buyer competition
- 47
- New listings
- 44
- Homes going pending
- 15
- Listings with price cuts
- 31.4%
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 69th percentile of tracked local ZIPs for rent.
ZIP 78723 home value & rent trend (past 12 months)
Typical home value fell 4.1% over the past 12 months, from $488,778 to $468,904. It rose in 1 of 11 monthly readings. The largest monthly gain was +0.1% in August 2026.
Typical rent rose 0.9% over the past 12 months, from $1,837 to $1,854. It rose in 7 of 11 monthly readings. The largest monthly gain was +0.9% in June 2026.
How ZIP 78723 compares to Austin
ZIP 78723's typical home value is 15.1% below the Austin median of $552,101. ZIP 78723's typical rent is 11.7% above the Austin median of $1,659. ZIP 78723's buyer competition is 6.8% above the Austin median of 44.
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 68th percentile of tracked local ZIPs for buyer competition. 34 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 the Austin Real Estate Market Cooling or Slowing Down?Read the related local market analysis.
- Is Austin a Buyer's Market?Read the related local market analysis.
- All Austin ZIP comparisonsCompare 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 housing market overviewReturn to the broader parent market.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules
Figures are updated monthly by the HomeMarketCap.com team under our editorial policy. Spotted something wrong? Report a correction.