If Austin fails to adequately address soaring home prices and apartment rents, the city risks transforming into San Francisco, one of the priciest housing markets in the U.S. That was the unsettling vision laid out January 28 by Austin Mayor Steve Adler in his annual State of the City speech.
By maintaining the status quo on housing in Austin, Adler cautioned, “we’ll end up like San Francisco, where the average house price is $1,150,000 and only the well-to-do and those being subsidized can live [there]. Nothing in between. No middle class, no working class, no creatives and artists.”
San Francisco recently was ranked No. 9 on a list of the least affordable housing markets in the world; by comparison, Austin tied for 216th.
Real estate experts say these are Austin's top neighborhoods right now
