Market Overview for Lakeway
There are 264 active listings in Lakeway with a median list price of $950K and a median sold price of $872K.
Homes average 59 days on market.
Over the past 30 days, 46 homes have sold, with 496 sales in the past 12 months.
The average price per square foot is $337.
About Lakeway
Lakeway is a city of approximately 20,000 residents located in Travis County along the southern shore of Lake Travis, about 20 miles west of downtown Austin. The city covers roughly 12 square miles of hilly terrain at elevations ranging from 680 feet at the lake level to over 1,000 feet on the surrounding ridges, with dense live oak and juniper woodland, limestone outcrops, and seasonal creek beds characterizing the landscape. SH-71 and FM 620 are the primary highway connections, linking Lakeway to Bee Cave, the Hill Country Galleria shopping area, and Austin via Loop 360 (Capital of Texas Highway) or MoPac Expressway.
Lakeway's real estate market is positioned in the upper tier of the Austin metro area. Home prices range from the $400,000s for townhomes and smaller homes to well over $2 million for lakefront estates with private boat docks. The median home price sits around $700,000. The city includes several distinct neighborhoods, from the original Lakeway development around the resort and golf courses to newer communities like Rough Hollow, which features a marina, trails, and a swim club. The Hills of Lakeway, Flintrock, and Cardinal Hills add variety to the housing stock. Properties with direct lake access or expansive Hill Country views are the most sought after.
Lake Travis ISD serves Lakeway and is one of the higher-performing districts in the Austin area. The district enrolls approximately 11,500 students across multiple campuses, including Lake Travis High School, which is well known for both academic performance and its football program. Hudson Bend Middle School and elementary campuses including Lakeway Elementary and Bee Cave Elementary serve the Lakeway area. The district has passed several bond elections to fund new facilities as enrollment has grown with residential development.
Lakeway's economy is a mix of professional services, healthcare, hospitality, and retail. Lakeway Regional Medical Center, part of the Baylor Scott & White system, is a major local employer. The Lakeway Resort and Spa, originally developed in the 1960s, sits on the lakefront and includes conference facilities and a marina. Most working residents commute to Austin, with drive times of 25 to 45 minutes depending on the route and traffic. The Oasis on Lake Travis, a multi-level restaurant complex perched on a cliff overlooking the lake, is one of the most recognizable dining venues in the Austin area. Hamilton Pool Preserve, a natural grotto with a 50-foot waterfall, lies about 15 miles to the southwest in the Pedernales River canyon.
Living in Lakeway
Lakeway's median household income exceeds $130,000, placing it among the wealthier communities in the Austin metro. The population is predominantly White, with a median age in the low 40s. Approximately 60% of adults hold a bachelor's degree or higher. The demographic composition is roughly 80% White, 10% Hispanic, 5% Asian, and 2% Black. Residents tend to be established professionals and executives working in Austin's technology, finance, healthcare, and legal sectors, with a significant number of dual-income households.
Daily life in Lakeway centers on lake recreation and the community's extensive amenity infrastructure. The city operates multiple parks, including Lakeway City Park with sports fields and a swimming pool, and the Hamilton Greenbelt trail system for hiking and mountain biking. Lake Travis provides boating, waterskiing, paddleboarding, and fishing from multiple access points, including the Rough Hollow marina and public boat ramps. Grocery shopping is handled by H-E-B and Randalls locations along FM 620 and in Bee Cave. Dining options range from lakeside restaurants along Lohmans Crossing to the restaurant cluster at the Hill Country Galleria. The Lakeway Activity Center hosts fitness classes, youth programs, and community events, and the lake itself serves as the backdrop for much of the city's social and recreational life.
Things to Do in Lakeway
- Lake Travis: 64-mile-long Highland Lakes reservoir with public boat ramps, marinas, and waterfront parks. Popular for boating, waterskiing, paddleboarding, and swimming with average summer water temperatures of 80-85 degrees.
- The Oasis on Lake Travis: Multi-level outdoor restaurant and entertainment complex overlooking Lake Travis with 30,000+ square feet of deck space, live music on weekends, and views of Hill Country sunsets.
- Flintrock Falls Golf Club: 18-hole Tom Kite-designed course in the Flintrock Falls community, with a clubhouse, pro shop, and elevation changes of 200+ feet offering Hill Country views.
- Lakeway City Park: 15-acre park with youth sports fields, a playground, walking trails, a dog park, and covered pavilions for community events.
- Hill Country Galleria: Open-air shopping and dining center in adjacent Bee Cave with 100+ shops and restaurants, an outdoor amphitheater, a Cinemark theater, and seasonal events.
Major Employers in Lakeway
- Lake Travis ISD (Education): The school district employs approximately 1,800 staff across 17 campuses, making it the largest employer in the Lakeway-Bee Cave area.
- Lakeway Resort and Spa (Hospitality): Full-service resort on Lake Travis with 168 rooms, 36 holes of golf, a marina, spa, and conference center employing approximately 300 workers.
- Baylor Scott & White Lakeway (Healthcare): Medical office complex on RM-620 with urgent care, primary care, and specialty clinics employing approximately 200 healthcare professionals.
- City of Lakeway (Government): The municipal government employs approximately 200 workers across police, fire, parks, and administrative departments.
Lakeway Schools
Lakeway is served by Lake Travis ISD. Students typically attend Serene Hills Elementary or Lakeway Elementary or Rough Hollow Elementary or Lake Travis Elementary for elementary school, Hudson Bend Middle School or Lake Travis Middle School for middle school, and Lake Travis High School for high school.
School District: Lake Travis ISD
Public Schools
- Serene Hills Elementary - Elementary school serving the Lakeway area in Lake Travis ISD.
- Lakeway Elementary - Elementary school serving the Lakeway area in Lake Travis ISD.
- Rough Hollow Elementary - Elementary school serving the Lakeway area in Lake Travis ISD.
- Lake Travis Elementary - Elementary school serving the Lakeway area in Lake Travis ISD.
- Hudson Bend Middle School - Middle school serving the Lakeway area in Lake Travis ISD.
- Lake Travis Middle School - Middle school serving the Lakeway area in Lake Travis ISD.
- Lake Travis High School - High school serving the Lakeway area in Lake Travis ISD.
- Lake Travis High School - LTISD high school enrolling about 2,800 students, with average SAT scores 100 points above the state average and 6 state football championships.
- Lake Travis Middle School - LTISD middle school serving approximately 1,200 students in grades 6-8 with GT (Gifted and Talented) programs and competitive UIL academics.
- Lakeway Elementary - LTISD elementary serving 600 students in grades K-5 within the Lakeway city limits, with dual-language and GT programs.
- Hudson Bend Middle School - LTISD middle school on RM-620 serving approximately 900 students with strong science and math electives.
Pre-Schools
- Lakeway Montessori - Montessori preschool on Lakeway Boulevard serving ages 18 months through 6 years with mixed-age classrooms and outdoor learning.
- The Goddard School - Lakeway - Franchise preschool on RM-620 enrolling children 6 weeks to 6 years with a STEAM-focused play-based curriculum.
Private Schools
- Summit Christian Academy - Lakeway - Christian school in the Lakeway area enrolling about 200 students with small class sizes averaging 12 students and a college-prep curriculum.
- The Magdalen School - Small classical school near Lakeway following a Great Books curriculum with integrated arts and Latin instruction for approximately 60 students.
Frequently Asked Questions
What is the average home price in Lakeway TX?
The median home price in Lakeway is approximately $750K. Condos and older townhomes start around $400K. Lakefront properties with private docks typically start at $1M and can exceed $3M for larger estates.
What school district is Lakeway in?
Lakeway is served by Lake Travis ISD, which has approximately 11,500 students across 17 campuses. Lake Travis High School is the main high school, enrolling about 2,800 students with average SAT scores 100 points above the state average.
How far is Lakeway from downtown Austin?
Lakeway is approximately 20 miles west of downtown Austin. The drive takes 25-35 minutes via SH-71 to MoPac or RM-620 to Loop 360. RM-620 can experience significant traffic during commute hours.
Is Lakeway on Lake Travis?
Yes, Lakeway is situated on the south shore of Lake Travis, a 64-mile-long reservoir on the Colorado River. Many homes have lake access, and the city has marinas and public boat ramps. Lake levels are managed by the LCRA.
What is there to do in Lakeway TX?
Lakeway offers boating and water sports on Lake Travis, three golf courses (including Flintrock Falls), The Oasis restaurant overlook, and 12 city parks. The adjacent Hill Country Galleria in Bee Cave has 100+ shops, restaurants, and an amphitheater.
