AUSTIN (KXAN) — A new report from real estate company Redfin states that teachers in the Austin metro can only afford 59% of apartments and 1.2% of homes near schools.
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That share of apartments grew from 45.9% in 2023. But the share of homes near schools only grew from 1%.
“The small improvement in housing affordability for teachers who rent is only a drop in the bucket,” said Redfin senior economist Sheharyar Bokhari, in the release.
Austin-Round Rock metro leads Texas in housing construction, 3rd highest apartment construction nationally
The report states that metro teachers’ median pay was $63,027, up 2.1% from 2023.
“Homeownership remains out of reach for a lot of educators, who, unlike many workers today, don’t have the flexibility to work remotely from somewhere more affordable. Building affordable housing near schools should be a priority for U.S. policymakers, but that’s only half the battle, as teacher salaries have faced years of underinvestment,” Bokhari said.
Austin-Round Rock metro leads Texas in housing construction, 3rd highest apartment construction nationally
The San Antonio metro saw the most improvement compared to the rest of the nation. Teachers there can afford 20.6% of homes…