Home Values are Surging in Hutto, Texas

In the early months of the COVID-19 pandemic, U.S. home sales slumped. Since then, however, the market has come roaring back — and rising demand, in conjunction with a relatively low supply of housing, has caused home values to surge.

According to estimates from Zillow, a Seattle-based real estate data company, between June 2020 and June 2021, the typical single-family American home appreciated in value from $255,008 to $293,349, a 15.0% increase. Of course, housing markets also respond more to local forces, and not all parts of the country followed the national pattern.

In Hutto, a city of about 25,300 residents in Texas’s Austin-Round Rock metro area, home values are rising even faster than they are nationwide. The typical single family home in Hutto was worth $354,908 as of June 2021, 40.2% more than what it was worth one year ago.

One factor that can contribute to rapidly climbing home prices at a local level is demand. And demand for housing is often precipitated by a growing population. According to the most recent available Census data, over the last one-year period, Hutto’s population increased by 5.6%.

Nationwide, the typical home value is about 4.7 times higher than the median household income of $62,843. In Hutto, housing is generally more affordable. The typical single-family home value is about 4.5 times higher than the local median household income of $78,942.

Here are the 12 communities with populations of at least 25,000 in Texas where home values climbed the most in the last year.

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