Market Overview for Zip Code 78705
There are 185 active listings in Zip Code 78705 with a median list price of $339K and a median sold price of $297K.
Homes average 91 days on market.
Over the past 30 days, 6 homes have sold, with 156 sales in the past 12 months.
The average price per square foot is $425.
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.
