How much is a home worth in ZIP code 78721?

The typical home in 78721 is worth $422,858, based on the Zillow Home Value Index.

Are home values rising in 78721?

Home values in 78721 are down 8.3% over the past year, and down 1.3% a year over five years.

What is the typical rent in 78721?

A typical home in 78721 rents for about $1,794 a month, a gross rental yield of 5.1%.

What is the property tax rate in 78721?

The effective property tax rate in 78721 is 1.1% — roughly $4,751 a year on a typical home.

ZIP code 78721 has a population of 10,997 and a median household income of $84,573.

HousingHandbookReference data

…

U.S. ZIP Code · TX78721

Travis County · Austin-Round Rock-San Marcos, TX

Typical home value

$422,858^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -8.3%
5-year / yr: -1.3%
10-year / yr: +4.7%

Relative price

vs U.S.: +48.9%
vs metro: -3.8%
vs state: +61.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 78721 is worth $422,858 — 3.8% below the Austin-Round Rock-San Marcos, TX median. Over the past year, values have fallen 8.3%. Homes here rent for a typical $1,794 a month — a 5.1% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,794^[2]
Gross yield: 5.1%^[2]
Cap rate: 3.1%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.1%^[3]
Typical annual tax: $4,751^[3]

#Climate risk

FEMA National Risk Index ratings for Travis County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Relatively Moderate
Drought: Relatively Low
Heat wave: Relatively High
Hurricane: Relatively Low
Tornado: Very High
Earthquake: Very Low
Winter weather: Relatively Moderate

#Who lives here

Population: 10,997^[3]
Median household income: $84,573^[3]

#Migration

Household moves in and out of Travis County over a year, from IRS tax-return data.

Net migration: +647^[5]
Moved in: 56,461
Moved out: 55,814

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 4
Middle: 1
High: 2

LASA H S
High · Grades 9–12 · AUSTIN ISD
1,518 students
IDEA HEALTH PROFESSIONS COLLEGE PREPARATORY
Middle · Grades 6–10 · IDEA PUBLIC SCHOOLS
298 students
NORMAN-SIMS EL
Elementary · Grades PK–5 · AUSTIN ISD
275 students
IDEA HEALTH PROFESSIONS ACADEMY
Elementary · Grades K–5 · IDEA PUBLIC SCHOOLS
265 students
ORTEGA EL
Elementary · Grades PK–6 · AUSTIN ISD
256 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.1%

Net yield (after ~40% expenses)3.1%

Annual rent$21,527

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,138

Loan principal$338,286

Down payment$84,572

Total interest paid$431,465

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.61

Monthly cost to own$2,885

Monthly rent$1,794

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 9th percentile^[1]
Rental yield: 61st percentile^[2]
Property tax: 21st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 78721?: The typical home in 78721 is worth $422,858, based on the Zillow Home Value Index.
Are home values rising in 78721?: Home values in 78721 are down 8.3% over the past year, and down 1.3% a year over five years.
What is the typical rent in 78721?: A typical home in 78721 rents for about $1,794 a month, a gross rental yield of 5.1%.
What is the property tax rate in 78721?: The effective property tax rate in 78721 is 1.1% — roughly $4,751 a year on a typical home.
Who lives in 78721?: ZIP code 78721 has a population of 10,997 and a median household income of $84,573.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

78719 vs 78721 →
Austin, TX
Typical home
$423,439
Gross yield
—
78645 vs 78721 →
Lago Vista, TX
Typical home
$425,155
Gross yield
6.2%
78745
Austin, TX
Typical home
$426,876
Gross yield
4.1%
78612
Cedar Creek CDP, TX
Typical home
$429,752
Gross yield
—
78748
Austin, TX
Typical home
$415,653
Gross yield
4.0%
78728
Austin, TX
Typical home
$410,298
Gross yield
3.8%

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#Jump to section

U.S. ZIP Code · TX78721

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