In-depth data shown in a recent ABOR report states the factual issues of disparity in housing affordability for local communities and families in the city of Austin.
Fresh, in-depth data demonstrating how unaffordable housing has become for the majority of locals is presented in a new report from one of the top real estate companies in Austin, Texas.
The Austin Board of Realtors' "The Truth About Austin's Missing Housing" looks at the overall affordability of housing across various income levels and racial groupings, as well as the housing situation in each of the city's ten city council districts, using sales data from the industry. Less than 5% of homes sold in the first half of 2023 were affordable for households with four people, even though 50.2% of those households make $93,000 or less annually, or 80% of the local median family income or less. Due to this mismatch, there are 247,240 homes in Travis County that are not available to potential purchasers, or a shortage of homes of 45.4% overall.
Black and African American households had a 58.3% housing shortage among various racial groups at 80% or less of median family income. This was in contrast to 57.6% for Hispanic/Latino households, 53.2% for the category of "other races," 38.4% for white households, and 35% for Asian households.
The city is significantly behind in achieving the objectives of its Strategic Housing Blueprint, according to Taylor Smith, ABOR's deputy director of government affairs. Additionally, the preliminary goals outlined in the 2017 document were overly conservative.
