78705 is Austin’s West Campus and Hyde Park area, running from Lamar Boulevard to Guadalupe Street (“the Drag”) right against the University of Texas. It’s one of the most walkable ZIP codes in the city if you’re a student or work near campus, and Pease Park — 42 acres along the Shoal Creek Greenbelt — sits right on the western edge of the neighborhood.
I’m Robbie English, REALTOR and Broker at Uncommon Realty, and 78705 is a market I watch closely because it behaves differently than the rest of Austin — a lot of the demand here comes from UT enrollment, not just general population growth.
Housing in 78705
The housing stock is a mix of older single-family and duplex properties, high-rise student towers, and condos, with pricing driven as much by proximity to campus and rental yield as by square footage. Investors buy here specifically for student rental income, which is a different calculation than a typical owner-occupant purchase — if that’s your plan, I’ll walk you through occupancy limits and what a given property can legally hold before you write an offer.
How 78705 compares to nearby neighborhoods
If you want a quieter, more residential feel without leaving the area, Hyde Park just north is the classic alternative, and Hancock is another nearby option worth comparing. For the broader Central Austin market, my Central Austin page covers what else is available nearby.
Schools in 78705
78705 is in Austin ISD, and Lee Elementary sits right in the neighborhood on Hampton Road, generally feeding toward Kealing Middle School and McCallum High School — though Austin ISD is in the middle of a multi-campus consolidation for the 2026-27 school year, so feeder patterns are worth confirming directly with the district rather than assuming they’ll stay the same. Most buyers in this ZIP code are weighing rental income and proximity to campus more heavily than school assignment anyway, since a large share of the housing stock here is investor-owned.
What to know before you buy or sell in 78705
Because so much of the demand here is tied to UT’s academic calendar, pricing and lease-up timing matter more than in most Austin neighborhoods — a unit that sits empty past August has lost most of its earning power for the year. If you’re buying as an investor, I’ll walk you through realistic occupancy, city rules on unrelated occupants per unit, and how a given property’s rent roll compares to what’s actually achievable. If you’re selling an older single-family or duplex property, condition relative to the newer high-rises nearby matters more here than it does in most parts of the city.
Ready to take the next step? search all homes for sale in 78705.
