Market Overview for Rainey Street Historic District
There are 95 active listings in Rainey Street Historic District with a median list price of $680K and a median sold price of $629K.
Homes average 101 days on market.
Over the past 30 days, 9 homes have sold, with 66 sales in the past 12 months.
The average price per square foot is $787.
About Rainey Street Historic District
The Rainey Street Historic District is located in the southeast corner of downtown Austin, Travis County, between Cesar Chavez Boulevard (formerly Water Street) to the north and Lady Bird Lake (the Colorado River) to the south, near Interstate 35. The district was added to the National Register of Historic Places on September 17, 1985 (Reference No. 85002302), with a period of significance spanning 1875 to 1949 and recognized areas of significance in architecture, including Bungalow/Craftsman and Gothic styles.
The neighborhood was created in 1884 when cattle baron Jesse Driskill and Frank Rainey subdivided 16 acres between Water Street and the Colorado River. The historic district runs from 70 to 97 Rainey Street. Early residents were middle-class tradespeople; by the 1920s, wealthier residents moved to northern and western suburbs and the area transitioned to working-class housing. A 1935 flood damaged or destroyed many original homes. The district was listed on the National Register amid fears of high-density commercial and residential redevelopment.
In 2004, the City of Austin rezoned Rainey Street as part of the Central Business District to encourage development near the Austin Convention Center. Since then, many of the historic bungalows have been converted into bars and restaurants, while surrounding parcels have seen high-rise residential tower construction. The area has become one of Austin's concentrated entertainment districts while also adding significant residential density through condo and apartment towers.
The Austin Convention Center is at 500 East Cesar Chavez Street, immediately north of the district. Waller Creek flows into Lady Bird Lake near the southeastern end of Rainey Street.
Living in Rainey Street Historic District
Rainey Street offers urban living in downtown Austin with immediate access to Lady Bird Lake and the Ann and Roy Butler Hike-and-Bike Trail, a 10.1-mile paved trail that circuits the lake. The district's location puts residents within a short distance of the central business district, the Austin Convention Center, and the East Cesar Chavez commercial corridor.
The area is served by Austin Independent School District (Austin ISD). Residents south of 15th Street in the downtown zone are zoned to Mathews Elementary School, O. Henry Middle School, and Austin High School.
Housing on Rainey Street is predominantly high-rise condominiums and apartments built since the 2004 rezoning, with remaining historic bungalows operating as commercial venues. The converted bungalows house bars and restaurants including Banger's Sausage House and Beer Garden, Container Bar, and Half Step, among others. The ground-floor retail and entertainment create a mixed-use character distinct from other downtown residential areas.
Downtown employers including Whole Foods Market (corporate headquarters), Indeed (co-headquarters), the State of Texas Capitol Complex, and the University of Texas at Austin are all accessible without a highway commute. The Waller Creek district and planned improvements along the waterway will add additional park space and trail connections adjacent to the neighborhood.
Things to Do in Rainey Street Historic District
- Lady Bird Lake and Hike-and-Bike Trail: The Ann and Roy Butler Hike-and-Bike Trail is a 10.1-mile paved loop around Lady Bird Lake, accessible from the southern edge of the Rainey Street district.
- Rainey Street Bar and Restaurant District: Historic bungalows converted into bars and restaurants since the 2004 rezoning, including Banger's Sausage House, Container Bar, and Half Step.
- Austin Convention Center: Located at 500 East Cesar Chavez Street immediately north of the Rainey Street district. Hosts conventions, concerts, and community events year-round.
- Waller Creek Greenway: An urban creek flowing into Lady Bird Lake near Rainey Street, with ongoing park improvements and trail connections through downtown Austin.
- Emma S. Barrientos Mexican American Cultural Center: A City of Austin cultural center on the shore of Lady Bird Lake near Rainey Street, offering visual art exhibitions, performances, and community programming.
Major Employers in Rainey Street Historic District
- Whole Foods Market (Grocery retail (corporate headquarters)): Global headquarters located in downtown Austin, within the broader Rainey Street / downtown corridor.
- Indeed (Technology): Job search technology company co-headquartered in Austin and Stamford, CT, with major downtown Austin offices.
- State of Texas (Government): The Texas Capitol Complex and state agency offices are in downtown Austin, providing employment across government services.
- Austin Convention Center (Convention and event management): City-owned facility at 500 East Cesar Chavez Street, immediately north of the Rainey Street district.
Rainey Street Historic District Schools
The Rainey Street area is served by Austin Independent School District (Austin ISD). Downtown Austin residents south of 15th Street are zoned to the Mathews Elementary, O. Henry Middle, and Austin High feeder pattern.
School District: Austin ISD
Public Schools
- Matthews Elementary
- Sanchez Elementary
- O Henry Middle
- Martin Middle
- Austin High School
Frequently Asked Questions
Is the Rainey Street Historic District on the National Register?
Yes. The Rainey Street Historic District was added to the National Register of Historic Places on September 17, 1985 (Reference No. 85002302). The period of significance spans 1875 to 1949, with areas of significance in Bungalow/Craftsman and Gothic architecture.
What happened to the historic bungalows on Rainey Street?
After the City of Austin rezoned Rainey Street as part of the Central Business District in 2004, many historic bungalows were converted into bars and restaurants. Surrounding parcels have been developed into high-rise residential and mixed-use towers.
What school district serves Rainey Street?
Rainey Street is served by Austin Independent School District (Austin ISD). Downtown residents are zoned to Mathews Elementary, O. Henry Middle School, and Austin High School.
How was the Rainey Street neighborhood founded?
The neighborhood was created in 1884 when cattle baron Jesse Driskill and Frank Rainey subdivided 16 acres between Water Street (now Cesar Chavez Boulevard) and the Colorado River. Jesse Driskill also built the Driskill Hotel on 6th Street.
What is near the Rainey Street Historic District?
Lady Bird Lake and the Ann and Roy Butler Hike-and-Bike Trail are immediately south. The Austin Convention Center is at 500 East Cesar Chavez Street, directly north. Waller Creek flows into Lady Bird Lake near the southeastern edge of the district.
