79013, Cactus, TX

The 79013 zip code of Cactus, TX has a median home value of $101,000 and a median home equity value of $142,000. These values are significantly higher than the statewide median home value of $76,500 and statewide median home equity value of $128,500. The 79013 zip code is also significantly higher than the national median home value of $177,200 and national median home equity value of $130,700.

The 79013 zip code is located in southeastern Travis County and includes the city of Cactus as well as portions of the cities of Austin and Round Rock. The population in the 79013 zip code was 34,824 as reported by the U.S. Census Bureau in 2016. The majority (60%)of residents in the 79013 zip code are white while 26% are Hispanic or Latino. There are also a significant number (11%)of residents who identify as Asian or Pacific Islander which is above both statewide averages (5%)and national averages (6%).

Home prices in the 79013 zip code have increased significantly over time relative to both statewide averages and national averages. Between 2000 and 2016, average home prices increased by 116%. Meanwhile, between 2006 and 2016 average inflation-adjusted incomes only increased by 44%. This indicates that there has been an increase in demand for homes within this zip code relative to other areas within Texas as well as nationwide.

There are several factors that may contribute to this increase in demand for homes within the 79013 zip code including: increasing wages across all income levels; low interest rates; limited inventory availability; strong economic growth; favorable demographics; strong job market conditions; and proximity to major metropolitan areas such as Austin and Round Rock. While there may be some localized factors that contribute to specific neighborhoods or subdivisions within this area (e.g., location within city limits), it is clear that overall demand for homes throughout this ZIP Code is high which likely accounts for much of the elevated prices seen here over time