78705 ZIP County
Key Info and Local Highlights
Nestled within the heart of Austin, Texas, ZIP Code 78705 is a vibrant and diverse area that captures the essence of urban living. This ZIP Code encompasses a modest 2.07 square miles within Travis County and is home to a dynamic community. The 2020 U.S. Census recorded 36,535 people residing in 13,188 households, making it a bustling hub of activity.
The median home value in 78705 stands at $307,200, positioning it as a relatively high-cost area, although still competitive compared to nearby ZIP Codes. Such real estate dynamics make this zone an intriguing sector for potential homeowners and investors alike. Rentals, especially one-bedroom apartments, dominate the housing market, offering various options to fit different lifestyles.
Living in 78705 means being part of a community where 93.8% of residents live and work within Travis County. This area offers an engaging mix of demographics and amenities that cater to both long-term residents and transient populations, such as university students. The schools, local politics, and diverse population combine to make this area unique in Austin, drawing interest from many who seek both convenience and community.
More about ZIP 78705
Geographic Overview
The ZIP code 78705 is located in Austin, Texas, within Travis County. Austin, the state capital, is a major city in the U.S. state of Texas.
Coordinates: 30.29° N latitude and 97.74° W longitude.
Geographical Area:
Land area: Approx. 1 square mile.
Central park areas and green spaces are part of the local geography.
Parks and Recreation
The area contains several parks which offer green spaces and recreational facilities for residents. Central Park is a notable local feature.
Water Bodies:
No major rivers flow directly through 78705, but the area is part of the larger metro area that includes significant waterways like the Colorado River.
Transportation and Accessibility
The central location within Austin makes 78705 easily accessible via main roads and public transportation. The area codes for 78705 are 512 and 737, indicating its connectivity within the city's larger metro area.
Map Overview: The detailed maps of 78705 show a compact urban layout, contributing to its densely populated and highly developed residential and commercial characteristics.
Demographics
The ZIP code 78705 in Austin, Texas, is a densely populated area with diverse racial and ethnic backgrounds. This section delves into the specifics of population numbers, density, age distribution, and racial composition.
Population and Density
ZIP code 78705 has a population of approximately 32,644 people. The area covers 2.07 square miles, resulting in a population density of roughly 15,764 people per square mile. Such high density contributes to a vibrant urban feel and supports a range of amenities and services within a compact area. City-data.com had estimated a slight decline in population, but recent figures suggest otherwise.
Race and Ethnicity
The racial makeup of the 78705 area is diverse. Residents include a significant percentage of White and Hispanic individuals, followed by Asian, Black or African American, and smaller numbers of American Indian and Alaska Native, Native Hawaiian and Other Pacific Islander. The category "Two or more races" also represents a part of the demographic profile. This blend of cultures enhances the community's multicultural atmosphere.
Age Distribution
The population in 78705 has a unique age profile because it encompasses the University of Texas campus, resulting in a concentration of young adults. A significant number of residents are in the 20 to 24 age range. Other notable age brackets include those in the 35 to 44 and 45 to 54 ranges, although they represent smaller portions of the population. Few residents fall into the older age categories, such as 55 to 59 years, and 60 to 64 years, reflecting the youthful demographic.
Household and Income
The 78705 ZIP code in Austin, Texas, provides a unique blend of household compositions and varied income levels. Examining the types of households and income statistics provides useful insights into this area.
Household Types
The 78705 ZIP code is home to a variety of household types. The area has 33,521 households, with a significant proportion being non-family units. The average household size in this region is lower than the national average, influenced largely by the area's proximity to educational institutions.
Family households include married-couple families and those led by male householders, though married-couple families may be less prevalent. The presence of student housing contributes to the diversity of household types, from single occupants to roommate arrangements.
Understanding the breakdown of these household types is critical for recognizing the diverse living situations within 78705.
Income Statistics
Income levels within the 78705 ZIP code vary widely. The median household income is $23,750. This figure reflects both the student population and the broader economic diversity of the area. High-income households are less common, while a substantial number of residents have incomes below $25,000.
A detailed income distribution shows that many households report earnings in the lower income brackets:
3,788 households earning less than $10,000
915 households earning between $10,000 to $14,999
352 households earning between $15,000 to $19,999
Despite the lower median income, the presence of educational institutions can influence economic dynamics, leading to a mix of part-time workers and students contributing to these statistics. Understanding these income levels provides a clear picture of the economic landscape in 78705.
Housing and Living Standards
Housing and living standards in the 78705 zip code of Austin, TX, demonstrate notable trends in property values and housing availability. This area presents a mix of housing types, with a significant portion of rental units and competitive property prices.
Housing Estimates
The 78705 zip code covers a compact area of 2.2 square miles. As of recent data, there are approximately 535 housing units with mortgages in the region. The majority of these are rental properties, commonly 1-bedroom units, which cater to students and young professionals due to the proximity to the University of Texas. The vacancy rate and the number of vacant units remain critical factors, reflecting the dynamic nature of the local housing market.
Property Values
The median home value in 78705 stands at $307,200. Although this figure is high compared to the national average, it is slightly below the average home values in nearby zip codes, making it an appealing option for potential homeowners looking at less expensive alternatives within Austin. Additionally, the cost of living index for this zip code was recorded at 112.6 in March 2022, indicating a costlier living standard relative to the national average. This data can help potential buyers and renters gauge the affordability of living in this vibrant neighborhood.
Education
The 78705 zip code in Austin, Texas features a diverse educational landscape, ranging from elementary schools to higher education institutions. A notable institution in this area is the University of Texas at Austin.
Educational Attainment
Residents of the 78705 area exhibit varied educational levels. A significant portion of the population has achieved at least a high school diploma. Many individuals also hold a bachelor's degree or higher, highlighting the area's emphasis on higher education.
Professional degrees are also common among residents, reflecting the proximity to major universities. The population's educational diversity supports a skilled workforce and contributes to the community's overall development.
Schools and Universities
The 78705 zip code includes notable schools such as Lee Elementary, a high-performing public school. Lee Elementary ranks among the top 10% of elementary schools in Texas. Additionally, there is Helping Hand, a public charter school, which ranks among the bottom 5% in the state.
The University of Texas at Austin, a prominent higher education institution, is also located within this zip code. Known for its research programs and diverse fields of study, it attracts students nationwide and internationally, enhancing the area’s academic environment.
Economic Environment
The economic setting in ZIP Code 78705 in Austin, TX showcases dynamic employment opportunities and a mix of local businesses, despite its varied income levels. The area thrives on its unique economic characteristics.
Employment
In 78705, employment statistics reflect a diverse demographic, particularly influenced by its proximity to educational institutions. The average income of residents is notably lower than the national average, about $10,529 annually, influenced by a substantial student population.
Income Tax Rate: Austin enjoys a 0.0% income tax rate, contrasting sharply with the national average of 4.6%.
The majority of the working population falls in the age brackets of 15-24 and 45-64 years. The former has the lowest median household income of $9,461, attributed to the student demographic. Conversely, the latter sees the highest with $101,676.
Local Businesses
Local businesses play a pivotal role in 78705’s economy. The area benefits from a mix of retail, dining, and service-oriented establishments, catering to both permanent residents and transient student populations.
Small Businesses: Numerous small businesses thrive here, from coffee shops to boutiques, serving as community hubs.
Rentals and Real Estate: The median home value stands at $307,200, which is relatively high but considered affordable compared to neighboring areas. Rentals, predominantly one-bedroom units, are common due to the high demand from students and young professionals.
Community and Lifestyle
Located in Austin, Texas, the 78705 ZIP code is characterized by a vibrant community and a rich blend of lifestyle amenities. This area hosts diverse cultural activities and accessible healthcare services, catering to its residents' needs.
Cultural Dynamics
The 78705 area boasts a mix of cultural influences, reflective of its diverse population. This region is a hub for various entertainment options, including numerous theaters, art galleries, and music venues. Local restaurants offer an array of cuisines, from fast-casual to fine dining, appealing to a wide range of tastes. Additionally, the presence of students from nearby universities contributes to the youthful and dynamic atmosphere, infusing the community with fresh ideas and innovative trends.
Healthcare and Services
Healthcare access in the 78705 ZIP code is robust, with several top-tier medical facilities and clinics providing a range of services. Residents benefit from specialized care, urgent care centers, and primary healthcare providers, ensuring comprehensive medical support. Notable institutions include Dell Seton Medical Center and numerous private practices, promising state-of-the-art medical technology and attentive care. Furthermore, the area is well-served by dentists, optometrists, and other health-related professionals, making it a convenient location for maintaining overall health.
