How much is a home worth in ZIP code 78723?

The typical home in 78723 is worth $483,808, based on the Zillow Home Value Index.

Are home values rising in 78723?

Home values in 78723 are down 6.5% over the past year, and down 2.4% a year over five years.

What is the typical rent in 78723?

A typical home in 78723 rents for about $1,816 a month, a gross rental yield of 4.5%.

What is the property tax rate in 78723?

The effective property tax rate in 78723 is 1.4% — roughly $6,872 a year on a typical home.

ZIP code 78723 has a population of 38,129 and a median household income of $100,329.

HousingHandbookReference data

…

U.S. ZIP Code · TX78723

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

Typical home value

$483,808^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -6.5%
5-year / yr: -2.4%
10-year / yr: +3.0%

Relative price

vs U.S.: +70.3%
vs metro: +10.0%
vs state: +84.8%

Price history

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

The typical home in 78723 is worth $483,808 — 10.0% above the Austin-Round Rock-San Marcos, TX median. Over the past year, values have fallen 6.5%. Homes here rent for a typical $1,816 a month — a 4.5% gross rental yield. The effective property tax rate is 1.4%.

#Rent & investment

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

Monthly rent: $1,816^[2]
Gross yield: 4.5%^[2]
Cap rate: 2.7%^[2]

#Property tax

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

Effective tax rate: 1.4%^[3]
Typical annual tax: $6,872^[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: 38,129^[3]
Median household income: $100,329^[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: 11
Elementary: 7
Middle: 3
High: 1

AUSTIN ACHIEVE NORTHEAST EL
Elementary · Grades PK–4 · AUSTIN ACHIEVE PUBLIC SCHOOLS
903 students
BLANTON EL
Elementary · Grades PK–5 · AUSTIN ISD
708 students
AUSTIN ACHIEVE MIDDLE
Middle · Grades 5–8 · AUSTIN ACHIEVE PUBLIC SCHOOLS
647 students
AUSTIN ACHIEVE H S
High · Grades 9–12 · AUSTIN ACHIEVE PUBLIC SCHOOLS
633 students
HARRIS EL
Elementary · Grades PK–5 · AUSTIN ISD
358 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 yield4.5%

Net yield (after ~40% expenses)2.7%

Annual rent$21,792

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$2,446

Loan principal$387,046

Down payment$96,762

Total interest paid$493,656

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 ratio1.88

Monthly cost to own$3,422

Monthly rent$1,816

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: 1st percentile^[1]
Rental yield: 48th percentile^[2]
Property tax: 75th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 78723?: The typical home in 78723 is worth $483,808, based on the Zillow Home Value Index.
Are home values rising in 78723?: Home values in 78723 are down 6.5% over the past year, and down 2.4% a year over five years.
What is the typical rent in 78723?: A typical home in 78723 rents for about $1,816 a month, a gross rental yield of 4.5%.
What is the property tax rate in 78723?: The effective property tax rate in 78723 is 1.4% — roughly $6,872 a year on a typical home.
Who lives in 78723?: ZIP code 78723 has a population of 38,129 and a median household income of $100,329.

#Comparable ZIPs

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

78628 vs 78723 →
Georgetown, TX
Typical home
$480,872
Gross yield
4.7%
78681 vs 78723 →
Round Rock, TX
Typical home
$491,286
Gross yield
4.4%
78652
Austin, TX
Typical home
$473,308
Gross yield
5.3%
78613
Cedar Park, TX
Typical home
$469,580
Gross yield
3.9%
78650
McDade CDP, TX
Typical home
$469,067
Gross yield
—
78662
Red Rock CDP, TX
Typical home
$467,644
Gross yield
—

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#Jump to section

U.S. ZIP Code · TX78723

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