Market Overview for Zip Code 78705
There are 208 active listings in Zip Code 78705 with a median list price of $321K and a median sold price of $298K.
Homes average 78 days on market.
Over the past 30 days, 20 homes have sold, with 152 sales in the past 12 months.
The average price per square foot is $435.
About Zip Code 78705
Zip code 78705 covers the University of Texas at Austin campus and surrounding neighborhoods, including Hyde Park, North University, and the Guadalupe Street ("The Drag") corridor in central Travis County. The zip code is bounded roughly by West 45th Street to the north, I-35 to the east, Martin Luther King Jr. Boulevard to the south, and Lamar Boulevard to the west. This area is the most densely populated in Austin outside of downtown, with a mix of student apartments, historic single-family homes, university buildings, and commercial establishments along Guadalupe Street and Duval Street. The neighborhoods north of campus — Hyde Park and North University — were developed between the 1890s and 1930s and contain some of Austin's oldest residential architecture.
Real estate in 78705 is heavily influenced by the university. Student-oriented condominiums and apartments dominate the market near campus, with one-bedroom condos along Guadalupe and West Campus starting around $200K and larger units reaching $500K. Single-family homes in Hyde Park, a designated National Register Historic District, range from $500K for smaller bungalows on 5,000-square-foot lots to over $1.2 million for fully restored Craftsman and Victorian homes on larger parcels. North University homes follow similar pricing. Rental density is extremely high in the West Campus and Guadalupe corridor, where student apartment towers charge $1,000 to $2,000 per bedroom. Investment properties targeting student renters are a significant portion of the market. New high-rise student housing has added thousands of beds along Guadalupe Street and Rio Grande over the past decade.
Students in 78705 (K-12) attend Austin ISD. Lee Elementary serves the elementary grades, with Lamar Middle School (formerly Fulmore) for 6th through 8th and McCallum High School for 9th through 12th. However, the proportion of school-age children in 78705 is among the lowest in Austin due to the dominance of university students and young adults in the population. Austin ISD operates magnet and transfer programs accessible to families in this zone. The University of Texas at Austin, a top-tier public research university with over 51,000 students and 24,000 employees, occupies the southern half of the zip code and is the primary educational and economic institution.
The 78705 zip code is centrally located with Guadalupe Street, Lamar Boulevard, and I-35 providing direct access to downtown Austin in under 10 minutes. Capital Metro's bus system runs high-frequency routes along Guadalupe (the future light rail corridor under Project Connect), Speedway, and Red River Street. The UT campus provides public access to the LBJ Presidential Library, the Blanton Museum of Art, the Harry Ransom Center, and Texas Memorial Stadium (capacity 100,119). Austin-Bergstrom International Airport is approximately 20 minutes south. The Drag — the commercial strip along Guadalupe facing campus — includes bookstores, coffee shops, fast-casual restaurants, and the historic Dobie Mall.
Living in Zip Code 78705
The population of 78705 is dominated by University of Texas students, graduate students, and university employees, with a smaller contingent of longtime Hyde Park residents and young professionals. The median age is approximately 23, the lowest of any Austin zip code. Median household income is roughly $35,000, depressed by the large student population; non-student household income is significantly higher. Hyde Park has an active neighborhood association that advocates for historic preservation, tree protection, and pedestrian safety. The neighborhood's annual Hyde Park Homes Tour in November showcases restored early-20th-century residences. Parking is limited throughout 78705, and many residents rely on bicycles, scooters, and Capital Metro transit.
Hyde Park's commercial node along Duval Street includes Quack's 43rd Street Bakery, Hyde Park Bar and Grill (known for its battered french fries since 1982), Asti Trattoria, and Foreign & Domestic. Guadalupe Street's Drag has Wheatsville Food Co-op (Austin's only food cooperative, operating since 1976), Spider House Ballroom, and numerous food trucks. Shipe Park in the center of Hyde Park has a wading pool, basketball courts, and a large open field used for community gatherings. The Elisabet Ney Museum, housed in the 1892 studio of German-Texan sculptor Elisabet Ney, sits at the corner of 44th and Avenue H and is open free to the public. UT campus facilities open to the public include the Blanton Museum of Art (240,000-piece collection), the LBJ Presidential Library, and the 40 Acres recreational fields.
Things to Do in Zip Code 78705
- Blanton Museum of Art: UT Austin's art museum with a permanent collection of over 240,000 works. Free admission on Thursdays. Located on Congress Avenue at MLK.
- LBJ Presidential Library: Presidential library and museum on the UT campus documenting the presidency of Lyndon B. Johnson. Free admission.
- Hyde Park Neighborhood Walk: Historic district with Craftsman bungalows, tree-lined streets, Shipe Park, and the Elisabet Ney Museum (free, open Thursday-Sunday).
- The Drag (Guadalupe Street): Commercial strip facing the UT campus with bookstores, Wheatsville Co-op, food trucks, and coffee shops.
- Texas Memorial Stadium: 100,119-seat stadium hosting UT Longhorns football. Sixth-largest college football stadium in the country.
Major Employers in Zip Code 78705
- University of Texas at Austin (Education): Flagship state university employing over 24,000 faculty, researchers, and staff. Largest employer in central Austin.
- UT Southwestern Medical Branch (Healthcare): University medical facilities including the Dell Medical School and UT Health Austin clinics with several thousand staff.
- Austin ISD (Education): Largest school district in the area with over 75,000 students and approximately 12,000 employees across 130 campuses.
- Wheatsville Food Co-op (Retail): Austin's only food cooperative, operating on Guadalupe Street since 1976 with approximately 150 employees.
Zip Code 78705 Schools
Austin ISD serves K-12 students in 78705, though the area is dominated by the University of Texas at Austin with over 51,000 enrolled students.
School District: Austin ISD
Public Schools
- Lee Elementary - Pre-K through 5th grade campus serving the Hyde Park and North University areas.
- Lamar Middle School - 6th through 8th grade campus on Payton Gin Road.
- McCallum High School - 9th through 12th grade campus with fine arts academy and competitive UIL programs, about 10 minutes north.
Pre-Schools
- Austin ISD Pre-K - Public pre-K at Lee Elementary for qualifying families.
- UT Child Development Center - University-operated childcare on campus for children of UT students and employees.
Private Schools
- Austin Waldorf School - Independent Waldorf school on West 35th Street serving early childhood through 8th grade.
Higher Education
- University of Texas at Austin - Flagship public university with over 51,000 students, 24,000 employees, and a $4 billion annual economic impact on Austin.
Frequently Asked Questions
Where is zip code 78705?
78705 covers the UT Austin campus and surrounding neighborhoods including Hyde Park and North University, bounded by W 45th (north), I-35 (east), MLK (south), and Lamar (west).
What do homes cost in 78705?
Student condos start around $200K, while Hyde Park bungalows range from $500K to $1.2M+. The market is split between student-oriented investment properties and owner-occupied historic homes.
What school district serves 78705?
Austin ISD serves K-12 students in 78705 with Lee Elementary, Lamar Middle School, and McCallum High School. However, the area has very few school-age children relative to the student population.
Is 78705 mostly students?
The majority of 78705 residents are UT Austin students or university employees. The median age is approximately 23. Hyde Park and North University have higher concentrations of non-student residents.
How far is UT Austin from downtown?
The UT campus is directly adjacent to downtown Austin, separated by Martin Luther King Jr. Boulevard. The walk from the south end of campus to the Capitol takes approximately 15 minutes.
