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Dripping Springs, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Dripping Springs, TX Housing Market Trends

With 5,787 people, 1,692 houses or apartments, and a median cost of homes of $665,258, Dripping Springs house prices are not only among the most expensive in Texas, Dripping Springs real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Dripping Springs, accounting for 73.52% of the city's housing units. Other types of housing that are prevalent in Dripping Springs include duplexes, homes converted to apartments or other small apartment buildings ( 8.85%), large apartment complexes or high rise apartments ( 8.68%), and a few mobile homes or trailers ( 4.98%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Dripping Springs. Owner-occupied housing accounts for 72.45% of Dripping Springs's homes, and 74.24% have either three or four bedrooms, which is average sized relative to America.

Dripping Springs homes and real estate are some of the newest in America. 60.69% of Dripping Springs's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Dripping Springs real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 37.23%), and before 1939 ( 1.12%).

Dripping Springs Home Appreciation Rates

In the last 10 years, Dripping Springs has experienced some of the highest home appreciation rates of any community in the nation. Dripping Springs real estate appreciated 128.56% over the last ten years, which is an average annual home appreciation rate of 8.62%, putting Dripping Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Dripping Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Dripping Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Dripping Springs's appreciation rate has been 0.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dripping Springs were at -7.05%, which equates to an annual appreciation rate of -25.35%.

Notably, Dripping Springs's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Texas, our data show that Dripping Springs's latest annual appreciation rate is lower than 90% of the other cities and towns in Texas.

Average Home Values

Median Home Value

$665,258

Dripping Springs, TX Home Prices
> $1,430,000
$1,072,001 - $1,430,000
$715,001 - $1,072,000
$572,001 - $715,000
$429,001 - $572,000
$286,001 - $429,000
$143,001 - $286,000
$71,001 - $143,000
$0 - $71,000
5.8%
5.8%
11.9%
11.9%
28.9%
28.9%
20.1%
20.1%
14.4%
14.4%
11.1%
11.1%
4.7%
4.7%
1.4%
1.4%
1.7%
1.7%
0% 100.0%
% of Homes
Very High

for Texas

Very High

for nation

Number of Homes And Apartments:

1,692

Dripping Springs Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,414 / per month

Homeownership Rate

Owners
Renters
Vacant
72.5%
72.5%
27.5%
27.5%
5.3%
5.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
60.7%
60.7%
37.2%
37.2%
1.0%
1.0%
1.1%
1.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.5%
73.5%
3.8%
3.8%
8.8%
8.8%
8.7%
8.7%
5.0%
5.0%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
6.9%
6.9%
14.7%
14.7%
43.2%
43.2%
31.0%
31.0%
2.8%
2.8%
0% 100.0%
% of Homes

Popular Neighborhoods in Dripping Springs

Popular Communities Near Dripping Springs, TX

Zip Codes in Dripping Springs, TX