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Newswest 9 | Midland, Texas | newswest9.com

Austin ZIP code is one of the least affordable places in Texas to buy a house instead of renting, study says

The ZIP code that was ranked the best in Texas to buy a house instead of renting was 79847 in Salt Flat.

AUSTIN, Texas — UnitedStatesZipCodes.org used data from the U.S. Census Bureau's American Community Survey to create a list of the top 50 ZIP codes that are better to buy a house in than rent one, as well as a list of the bottom 50 ZIP codes for buying over renting.

The lists were based on the price to rent ratio, which is found by taking the median home value in the ZIP code and dividing it by the median annual rent in the ZIP code.

Any ratio that is under 15 shows that the area is likely more affordable to buy a house in than to rent one, while a ratio over 20 means that the area is likely cheaper to rent in.

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The list of the top five places in Texas that are more affordable to buy a house in than rent one contains only a single ZIP code from a major city: 75253 in Dallas.

  1. 79847, Salt Flat
  2. 79233, Estelline
  3. 78531, Driscoll
  4. 78358, Fulton
  5. 75253, Dallas

Meanwhile, the top five most unaffordable places in Texas to buy a house instead of renting include two ZIP codes from Dallas and one each from San Antonio, Houston and Austin.

  1. 75205, Dallas
  2. 78205, San Antonio
  3. 75230, Dallas
  4. 77024, Houston
  5. 78703, Austin

Click here to see if your ZIP code made the list.

WATCH: More affordable housing is coming to South Austin

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