Market Overview for Zip Code 78650
There are 12 active listings in Zip Code 78650 with a median list price of $799K and a median sold price of $420K.
Homes average 40 days on market.
Over the past 30 days, 0 homes have sold, with 10 sales in the past 12 months.
The average price per square foot is $314.
About Zip Code 78650
Zip code 78650 covers McDade, a small unincorporated community of roughly 700 people straddling the Lee and Bastrop county line, approximately 45 miles east of downtown Austin. McDade sits along US-290 between Elgin and Giddings, with the Union Pacific railroad running through its center. The community was established in the 1870s as a railroad stop and experienced a brief period of notoriety in the 1880s during frontier-era conflicts. The surrounding landscape is Post Oak Savannah with sandy loam soils, scattered post oak and blackjack oak groves, and gently rolling terrain. The area is rural and agricultural, with cattle ranches and hay operations dominating land use.
Real estate in 78650 is primarily rural acreage and homes on large lots. Raw land in the area generally runs $8,000 to $15,000 per acre, with prices varying based on road frontage, fencing, and tree cover. Improved properties with homes on 5 to 30 acres typically list from $300K to $600K. Homes in the small McDade townsite are older, generally built between 1920 and 1970, and are available from $125K to $275K. Manufactured homes on private lots are common throughout the zip code, priced from $80K to $200K. There are no active subdivision developments in McDade; the real estate market consists almost entirely of existing homes and raw land parcels suited for agricultural or residential use.
Students in 78650 attend either Elgin ISD or Lexington ISD depending on their location within the zip code. Elgin ISD is the larger district, serving approximately 5,500 students with multiple elementary campuses, Elgin Middle School, and Elgin High School. Lexington ISD serves about 900 students in Lee County. Both districts offer agricultural education and FFA programs. The nearest private school options require a drive to Bastrop or Austin, each roughly 30 to 45 minutes away. Elgin, about 10 miles west, provides the closest concentration of school-related services and extracurricular facilities.
McDade is approximately 45 minutes from downtown Austin via US-290. Elgin is about 10 miles west, Bastrop is approximately 20 miles south on SH-95, and Giddings is about 20 miles east. US-290 provides the primary transportation corridor, with access to SH-130 toll road about 15 miles west for faster routing to Austin. Most residents commute to Elgin, Bastrop, Taylor, or Austin for employment. McDade has minimal commercial services, with a post office, a volunteer fire department, and a few small businesses. The annual McDade Watermelon Festival in July is the community's primary public event. Lake Bastrop, a 906-acre reservoir, is accessible about 20 miles south for fishing and boating.
