Market Overview for Zip Code 78731
There are 106 active listings in Zip Code 78731 with a median list price of $1.1M and a median sold price of $1.1M.
Homes average 41 days on market.
Over the past 30 days, 32 homes have sold, with 336 sales in the past 12 months.
The average price per square foot is $455.
About Zip Code 78731
Zip code 78731 covers the Northwest Hills area of central-northwest Austin, one of the city's most established residential corridors. The zip code extends from roughly MoPac (Loop 1) on the east to FM 2222 on the north and west, and from Far West Boulevard on the north to approximately 35th Street on the south. Key neighborhoods include Northwest Hills, Far West, Cat Mountain, Highland Park West, and Mesa Park. The area sits approximately 7 miles northwest of downtown Austin, making it one of the closer-in residential areas with a suburban neighborhood feel. The terrain is hilly, with elevations rising from 600 feet near Shoal Creek to over 900 feet on Cat Mountain, providing views of downtown and the surrounding Hill Country.
Real estate in 78731 spans a wide range, from modest 1960s-era ranch homes to multi-million dollar custom builds on Cat Mountain and in Highland Park West. Northwest Hills proper was developed primarily in the 1960s and 1970s, with single-family homes from 1,400 to 2,800 square feet on lots of 0.15 to 0.4 acres. Far West features a mix of single-family homes and condominiums, with many townhome-style units from the 1980s priced from $250K to $400K. Cat Mountain and Highland Park West have larger custom homes from 3,000 to 6,000 square feet with prices from $900K to over $3 million. The median home price across 78731 is approximately $750K, though the range is substantial.
Students in 78731 attend Austin ISD schools. Elementary campuses include Doss Elementary, Hill Elementary, and Highland Park Elementary, all of which have strong parent involvement and gifted and talented programs. Murchison Middle School serves 6th through 8th grade and feeds into Anderson High School, which enrolls approximately 2,100 students and offers International Baccalaureate (IB) Diploma Programme along with extensive AP coursework. Anderson is consistently ranked among the top public high schools in Austin ISD.
The location of 78731 makes it one of the most commute-friendly zip codes in Austin. MoPac provides direct highway access, and downtown Austin is typically 10 to 20 minutes south. The UT Austin campus is about 10 minutes east via 2222 or 35th Street. The Arboretum and Domain shopping areas are 10 to 15 minutes north on MoPac. Central Market on North Lamar, one of Austin's flagship specialty grocery stores, is within the zip code. The 2222 corridor connects west toward River Place and Lake Austin, while Far West Boulevard serves as a neighborhood commercial street with restaurants, offices, and retail.
Living in Zip Code 78731
Northwest Hills is one of Austin's most sought-after residential areas for families seeking central location combined with strong Austin ISD schools. Median household income in 78731 exceeds $120,000. The population includes a mix of UT Austin faculty and staff, medical professionals from nearby hospitals, technology executives, and long-term residents who have lived in the area since the 1960s and 1970s. The proximity to UT Austin also means a notable presence of graduate students and visiting researchers, particularly in the Far West condominium corridor.
The Far West commercial district serves as the neighborhood hub, with restaurants including Kerbey Lane Cafe and Mandola's Italian Market, along with a Goodwill, dry cleaners, and small retail shops. Central Market on North Lamar, located within the zip code, is a major specialty grocery destination with prepared foods, an extensive deli, and live music on its outdoor patio. Northwest District Park has sports fields, a playground, and a public pool. Cat Mountain has its own greenbelt trail system connecting to the larger Shoal Creek trail network. The area's central location means that virtually all of Austin's cultural attractions — from Zilker Park to the Barton Creek Greenbelt to South Congress — are within a 15 to 20 minute drive.
Things to Do in Zip Code 78731
- Central Market: Specialty grocery store on North Lamar with an extensive deli, prepared foods, and live music on the outdoor patio on weekend evenings.
- Northwest District Park: Community park with sports fields, a public swimming pool, playground, and walking paths in the center of Northwest Hills.
- Cat Mountain Greenbelt: Trail system through wooded limestone terrain connecting Cat Mountain to the broader Shoal Creek trail network.
- Far West Commercial District: Neighborhood shopping area with Kerbey Lane Cafe, Mandola's Italian Market, and local retail along Far West Boulevard.
- Mount Bonnell: 785-foot limestone bluff overlooking Lake Austin, about 10 minutes west. A 102-step climb leads to panoramic views of the lake and downtown.
Major Employers in Zip Code 78731
- University of Texas at Austin (Higher Education): UT Austin is the largest employer in the city with over 24,000 employees, approximately 10 minutes east of Northwest Hills.
- Ascension Seton (Healthcare): Seton hospital network operates multiple facilities within 15 minutes, including Seton Northwest Hospital.
- Apple (Technology): Apple's Parmer Lane campus is about 15 minutes north on MoPac, employing over 7,000 in Austin.
- Austin ISD (Education): School district employing approximately 12,000 staff across its campuses, with several schools within 78731.
- Indeed (Technology): Job search company headquarters on Research Boulevard, about 10 minutes north via MoPac.
Zip Code 78731 Schools
78731 is served by Austin ISD, feeding into Anderson High School which offers an International Baccalaureate programme.
School District: Austin ISD
Public Schools
- Doss Elementary
- Highland Park Elementary
- Bryker Woods Elementary
- Lamar Middle
- Murchison Middle
- O Henry Middle
- McCallum High School
- Austin High School
Pre-Schools
- St. Louis Catholic School Pre-K - Preschool program affiliated with St. Louis Catholic Church on Burnet Road.
- Stepping Stone School Northwest Hills - Early childhood education center in the Northwest Hills area with infant through school-age programs.
Private Schools
- St. Louis Catholic School - Pre-K through 8th grade on Burnet Road within the zip code, affiliated with the Austin Diocese.
- The Regents School of Austin - Classical Christian school offering pre-K through 12th grade, about 15 minutes south.
Frequently Asked Questions
What school district is 78731 in?
78731 is served by Austin ISD. Students feed into Anderson High School, which offers an International Baccalaureate Diploma Programme along with extensive AP courses.
What is the median home price in 78731?
The median home price in 78731 is approximately $750K. Prices range from $250K for Far West condos to over $3 million for custom homes on Cat Mountain.
How far is Northwest Hills from downtown Austin?
Northwest Hills is approximately 7 miles from downtown Austin. Commute times are typically 10 to 20 minutes via MoPac, making it one of the closer-in suburban-feel neighborhoods.
Is 78731 near UT Austin?
UT Austin is about 10 minutes east of Northwest Hills via 2222 or 35th Street. Many UT faculty, staff, and graduate students live in the area, particularly in the Far West corridor.
What grocery stores are in 78731?
Central Market on North Lamar is a major specialty grocery destination within the zip code. H-E-B locations on Far West Boulevard and on Exposition are also nearby, within 5 to 10 minutes.