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    The price is not right

    Texas first-time buyers need $10,000 more to afford a home this year, report shows

    Brianna Caleri
    Jun 2, 2022 | 5:12 pm
    Home for sale sign
    Texans now need $10,000 more in income to be approved for a $229,000 house.
    Photo by fstop123/Getty Images

    The hurdles are raised for first-time homebuyers in Texas yet again, as rising interest rates demand an overall higher income for mortgage approval.

    The Texas Real Estate Research Center released findings in its new Texas Housing Affordability Outlook that Texans buying their first homes need $10,000 more in income than at the beginning of last year to be approved for a $229,000 house.

    Purchasing power, the center explains, and mortgage interest rates are indirectly related. Higher interest means higher monthly payments; it takes a higher income to keep up. “... As long as the rise in home prices continues to outpace the increase in income, purchase affordability, or the ability of a household to buy a home, will continue to diminish,” explains the report.

    The $229,000 figure represents the first-quartile home price in Texas in Q1 2022, described as "the highest home price among those lowest-priced 25 percent of homes sold" in the state. The state's median home price for the first quarter of 2022 was $319,000. Year-over-year growth was slightly higher for the median figure (18.4 percent) than first-quartile figure (17.5 percent), but both are at their highest rates since the beginning of the chart in 2012.

    The Austin-Round Rock area is, of course, driving a large part of this growth, with a 29.2 percent change in first-quartile prices since Q1 2021. That figure in Austin now sits at $420,000, almost double the state's first-quartile home price. Dallas’ numbers are slightly above the state average, San Antonio’s nearly exactly match.

    Houston’s are slightly below, at 17.2 percent. Here, per the report, the median home sales price was $320,000, while the first quartile sales price measured $249,000.

    Unfortunately for many Texans currently renting, only 37.4 percent of them are making the qualifying income ($61,652) to buy one of those first-quartile homes with a 3.4 percent interest rate (that was the national interest rate at the beginning of the year; by mid-May the interest rate had risen to 5.25 percent).

    In some good news, the report finds that from 2021 to 2022, median family income in the Houston-The Woodlands-Sugar Land MSA increased 13.8 percent. But, the report adds that if the trend in home prices outpacing the increase in income, Houstonian's ability to buy a home, will continue to diminish.

    reportsfamiliestexascondos
    news/real-estate

    rustic ranch livin'

    17-acre Hill Country ranch with stunning views listed for $3.7M

    Amber Heckler
    Nov 6, 2026 | 9:00 am
    HC Carter Camphouse property for sale in Dripping Springs, Spanish-style main house exterior
    Photo courtesy of Republic Ranches
    The 17-acre ranch is located at 1601 Creek Rd. in Dripping Springs.

    A spacious property for sale in the bustling Austin suburb of Dripping Springs is now offering just over 17 acres of land for $3.7 million.

    The HC Carter Camphouse, located at 1601 Creek Road, presents a rare opportunity for its next owners to live less than two miles from downtown Dripping Springs. The 17.03-acre ranch was once part of a much larger, 205-acre ranch that contained "one of the finest Longhorn cattle herds in Texas," according to the listing description.

    The property features two renovated homes: a two-bedroom, two-bathroom, Spanish-style main house that was originally built in 1956; and a restored "Pioneer Cabin" that was built in the mid-to-late 1800's and currently serves as the guest house.

    The primary home has a gated stone courtyard with a water fountain, and a tiled wraparound porch overlooking the front yard and in-ground fire pits. Terracotta tile runs throughout the interior of the home, and rustic wood details cohesively tie the rooms together. The spacious primary bedroom features wide French doors that open to the front porch, a high angled wood panel ceiling, and a Santa Fe-style fireplace.

    HC Carter Camphouse property for sale in Dripping Springs, main house primary bedroom The fire place in the primary bedroom will be very handy during the winter.Photo courtesy of Republic Ranches

    The restored cabin maintains its vintage charm with stone flooring, all-wood ceilings, log beams, and antique furnishings. The home contains two bedrooms with window AC units, two fireplaces, "working bathrooms," and a kitchen.

    Onion Creek runs through the property to provide stunning Hill Country views and a barrier of separation from Creek Rd. However, it also means a majority of the land south of the creek — including the areas where both homes sit — is in a FEMA 100-year floodplain and a Dripping Springs localized floodplain. The property's survey map fills in the details.

    "The property has approximately 1,600 feet of frontage on Onion Creek, providing year-round water, and stunning views of the creek," the listing says. "The creek has never gone dry on this part of the creek since the owners have owned the property."

    The ranch first entered the market in late July as a 9.999-acre parcel of land, but the listing has since been updated to add 7.031 more acres in an adjoining lot. The land addition improves the property's privacy, nearly doubles the Onion Creek frontage, and increases the size of the "most probable new home site location," according to the listing. The expansion also effectively reduces the price-per-acre by a third.

    HC Carter Camphouse property for sale in Dripping Springs, Spanish-style main house exterior

    Photo courtesy of Republic Ranches

    The 17-acre ranch is located at 1601 Creek Rd. in Dripping Springs.

    Whoever purchases the ranch will also become the owners of an additional one-acre lot located "outside of, but contiguous to" the 9.999-acre lot. This portion of land is leased to the property's caretaker, who previously managed the original 205-acre ranch for 25 years. The listing specifies that the caretaker "does not have the right to sell this 1 acre, which will revert to the owner in case of his death."

    real estateranch for salehouse for saleluxury housingluxury real estatedripping springs
    news/real-estate

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