Market Overview for Zip Code 78701
There are 211 active listings in Zip Code 78701 with a median list price of $603K and a median sold price of $595K.
Homes average 83 days on market.
Over the past 30 days, 26 homes have sold, with 221 sales in the past 12 months.
The average price per square foot is $750.
About Zip Code 78701
Zip code 78701 covers downtown Austin, the capital city's central business district, bounded roughly by I-35 to the east, Lamar Boulevard to the west, Martin Luther King Jr. Boulevard to the north, and Lady Bird Lake (Town Lake) to the south. This area encompasses the Texas State Capitol complex, the Sixth Street entertainment district, the Rainey Street historic district, the Second Street retail corridor, and the Seaholm mixed-use redevelopment. As the densest zip code in Austin, 78701 contains a concentrated mix of high-rise condominiums, office towers, hotels, government buildings, and mixed-use developments within approximately 2.5 square miles.
Real estate in 78701 is dominated by condominiums and loft conversions, with prices ranging from approximately $300K for studio and one-bedroom units in older buildings to over $5 million for penthouse residences in towers such as The Independent (685 feet, the tallest residential building west of the Mississippi at completion), Four Seasons Residences, and 70 Rainey. The median condo price is approximately $550K. Rental apartments are plentiful, with one-bedroom rents averaging $1,800 to $2,800 depending on the building and floor level. Single-family homes are extremely rare in 78701, limited to a handful of historic properties in the Judges' Hill and West Downtown areas priced above $1 million. New tower projects continue along Congress Avenue, Rainey Street, and the Waller Creek corridor.
There are no traditional public schools within 78701, as the area is almost entirely commercial and residential high-rise. Students residing in this zip code are zoned to Austin ISD campuses in adjacent neighborhoods: Pease Elementary (temporarily relocated), O. Henry Middle School, and Austin High School, all within a 10 to 15 minute drive or transit ride. Austin ISD serves over 75,000 students district-wide. Several private preschools and Montessori programs operate downtown, and Austin Community College's Rio Grande campus sits at the northern edge of the zip code on 12th Street. The University of Texas at Austin main campus begins just north of MLK Boulevard.
Downtown Austin is the state capital and Travis County seat, with the Texas State Capitol, Governor's Mansion, and numerous state agency offices concentrated along Congress Avenue and the Capitol complex. The Austin Convention Center on Cesar Chavez Street hosts South by Southwest (SXSW), Austin City Limits Music Festival's ancillary events, and hundreds of conventions annually. Lady Bird Lake's 10.1-mile Ann and Roy Butler Hike-and-Bike Trail wraps around the southern edge of 78701, connecting to Zilker Park and East Austin. Capital Metro's MetroRail Red Line terminates downtown, and the Project Connect light rail system is under development along Guadalupe Street and Congress Avenue.
Living in Zip Code 78701
Downtown Austin's residential population is approximately 12,000, consisting primarily of young professionals, tech workers, empty nesters, and state government employees. Median household income in 78701 exceeds $100,000, driven by the concentration of technology companies (including Google, Meta, and Amazon offices), law firms, lobbying firms, and financial services. The population skews younger with a median age in the low 30s, and over 85 percent of housing units are renter-occupied. Car ownership is lower than the Austin average, as many residents walk, cycle, or use scooters for daily errands. The Downtown Austin Alliance manages streetscape improvements and safety ambassadors throughout the district.
Daily life in 78701 is walkable in a way that few other Austin zip codes can match. Whole Foods Market's flagship store on 5th and Lamar anchors grocery shopping, supplemented by convenience stores and delivery services. The Sixth Street corridor (divided into East, Dirty, and West Sixth) provides nightlife and live music venues including Esther's Follies, Parish, and Maggie Mae's. The Second Street District has boutique retail and restaurants such as La Condesa, Irene's, and Trace. The Butler Hike-and-Bike Trail offers a 10.1-mile loop around Lady Bird Lake for running, cycling, and paddleboarding. Republic Square Park and Wooldridge Square host weekly farmers' markets and seasonal events. The Austin Central Library on Cesar Chavez, a six-story facility opened in 2017, provides event space, a rooftop garden, and free public programming.
Things to Do in Zip Code 78701
- Butler Hike-and-Bike Trail: 10.1-mile loop around Lady Bird Lake for running, cycling, and walking. Connects downtown to Zilker Park and East Austin.
- Sixth Street Entertainment District: Historic street with over 60 live music venues, bars, and restaurants spanning East, Dirty, and West Sixth Street sections.
- Texas State Capitol: 1888 Renaissance Revival building with free guided tours. Taller than the U.S. Capitol. Open daily to the public.
- Austin Central Library: Six-story public library on Cesar Chavez opened in 2017 with a rooftop garden, event spaces, and technology labs.
- Congress Avenue Bridge Bats: 1.5 million Mexican free-tailed bats emerge at sunset from March through October. Largest urban bat colony in North America.
Major Employers in Zip Code 78701
- State of Texas (Government): The Texas Capitol complex and state agency offices in downtown Austin collectively employ over 50,000 workers across multiple departments.
- City of Austin (Government): Municipal offices at Austin City Hall on Cesar Chavez employ approximately 14,000 city workers across all departments.
- Google Austin (Technology): Google occupies several floors in the Saltillo development and Third + Shoal tower, with over 1,500 local employees.
- Meta (Facebook) (Technology): Meta operates office space in downtown Austin towers, employing several hundred workers in engineering and operations.
Zip Code 78701 Schools
Austin ISD serves residents of 78701, with zoned campuses in adjacent neighborhoods. No traditional public schools are located within downtown proper.
School District: Austin ISD
Public Schools
- Matthews Elementary
- Bryker Woods Elementary
- Lee Elementary
- O Henry Middle
- Kealing Middle
- Austin High School
- McCallum High School
Pre-Schools
- Stepping Stone Schools Downtown - Licensed childcare and preschool on West 6th Street serving infants through pre-K.
- Austin Montessori School - Montessori program near downtown serving ages 18 months through kindergarten.
Private Schools
- The Griffin School - Independent middle and high school on West 5th Street with project-based curriculum.
Higher Education
- Austin Community College Rio Grande - Community college campus on 12th Street at the north edge of downtown offering associate degrees and workforce programs.
Frequently Asked Questions
Where is zip code 78701?
78701 covers downtown Austin, bounded by I-35 (east), Lamar (west), MLK Boulevard (north), and Lady Bird Lake (south). It includes the Capitol, Sixth Street, and Rainey Street.
What do condos cost in downtown Austin?
Condos in 78701 range from approximately $300K for studios to over $5 million for penthouses. The median condo price is about $550K. Luxury towers include The Independent and 70 Rainey.
Are there grocery stores in downtown Austin?
The Whole Foods Market flagship on 5th and Lamar is the primary grocery store in 78701. Convenience stores and grocery delivery services supplement the limited retail options downtown.
Is downtown Austin walkable?
Downtown Austin is the most walkable area in the city, with the Second Street District, Sixth Street, and Congress Avenue all accessible on foot. Capital Metro bus routes and the MetroRail Red Line serve the area.
What school district serves downtown Austin?
Austin ISD serves 78701 residents, with zoned schools in adjacent neighborhoods including Pease Elementary, O. Henry Middle, and Austin High School. No traditional public schools are within downtown proper.