78702 ZIP Neighborhood
Austin's Vibrant Urban Community
Located in Austin, TX, the 78702 ZIP code encompasses a diverse and vibrant neighborhood that has become a magnet for both residents and visitors. With Central East Austin being a notable part of this area, 78702 offers a rich mix of culture, history, and modernity. Home values in this region are higher than the national median, with median house prices around $461,829, reflecting its desirability and rapid development.
The population of 78702 is approximately 21,032, and the area includes a variety of public schools rated as B-, contributing to a family-friendly environment. The neighborhood's appeal is further enhanced by its moderate crime rate and low unemployment, making it a stable and attractive place to live.
Residents benefit from a diverse community and access to amenities that cater to different lifestyles. From trendy coffee shops and artisanal restaurants to parks and music venues, 78702 continues to be one of the most sought-after locations in Austin, offering a unique blend of affordability and quality living.
More about ZIP 78702
Geographic Overview
ZIP code 78702 is located in Austin, TX, featuring distinct boundaries and precise geographical coordinates. The area encompasses several key neighborhoods and nearby regions.
Location and Boundaries
ZIP code 78702 lies in the central part of Austin, TX, specifically within Central East Austin. This area is known for its vibrant community and historical significance.
To the west, it borders I-35, a major interstate highway, which offers convenient access to the rest of Austin. The eastern boundary extends toward the Austin-Bergstrom International Airport, providing an accessible gateway for travelers.
The northern boundary aligns closely with E 12th St., while the southern edge reaches Lady Bird Lake. These boundaries create a diverse mix of residential, commercial, and recreational spaces.
Latitude and Longitude
The central coordinates of ZIP code 78702 are approximately 30.26 degrees latitude and -97.71 degrees longitude. This location situates the area within the Central Time Zone.
The geographical coordinates make 78702 easily identifiable on maps, providing a clear reference point for both residents and visitors.
Moreover, its positioning is beneficial for those commuting to downtown Austin or other parts of the city, as it lies relatively close to the city's core. This central latitude and longitude contribute to 78702's desirability as a place to live and work in Austin, TX.
Demographics
The 78702 ZIP code in Austin, Texas is characterized by a diverse population with significant variation in age and ethnicity. The area has seen substantial changes in population density and demographic composition over recent years.
Population and Density
With an estimated population of 26,414 as of 2022, 78702 features a dense residential landscape. The ZIP code covers approximately 5 square miles. This results in a population density of about 5,138.5 people per square mile. Such density reflects the urban nature of the area, providing residents with close access to amenities and services.
Age Distribution
The age distribution in 78702 emphasizes a younger demographic, with a large segment of the population in their late 20s to early 40s. This age group represents a significant proportion of the residents, influencing the local culture and economy. A varied age demographic contributes to a dynamic community, appealing to both families and young professionals.
Ethnicity and Diversity
The ethnic composition of 78702 is notably diverse. Predominantly, the population consists of White residents, alongside significant representations of Hispanic and Black communities. Other ethnic groups, including Asian and individuals identifying as Two or More Races, add to the area's multicultural landscape. Diversity is a strong feature of 78702, contributing to a rich cultural tapestry and vibrant community life.
Education
The 78702 ZIP neighborhood in Austin, TX, features a variety of educational attainment levels and numerous schools and learning centers that cater to diverse educational needs.
Educational Attainment
Residents of the 78702 ZIP code display a wide range of educational backgrounds. Data suggests a noteworthy percentage with Bachelor's Degrees (35%) and Master's Degrees (22%), reflecting a community invested in higher education.
A significant portion of the population has completed high school diplomas or attended some college. Those with Associate's Degrees also form part of the community's educational landscape. Despite these higher education levels, there are residents with less than a high school diploma, underscoring a need for varied educational resources and support systems.
Schools and Learning Centers
The 78702 ZIP code area hosts several public schools that serve the community's educational needs, from K-12 institutions to specialized programs. Renowned schools such as those listed on SchoolDigger stand out for their performance metrics and community engagement.
Beyond traditional public schools, the neighborhood includes alternative learning centers that offer specialized education pathways. These centers focus on non-traditional curricula and cater to students requiring different learning approaches.
Educational facilities within the 78702 area contribute to a thriving educational environment, helping prepare students for various degrees and professional achievements. These resources ensure that residents have access to quality education at all levels.
Economics
The 78702 ZIP code area boasts a diverse economic profile, with a notable median income and distinct patterns in employment and unemployment.
Income Statistics
Income levels in the 78702 ZIP code area exhibit considerable variation. The median household income is around $58,579, which is higher than some neighboring areas. Additionally, the per capita income for residents stands at approximately $21,922 annually. This suggests a mixed economic landscape where some households fare significantly better than others.
Women in the area earn about 73.40% of what men earn. The economic disparity is a critical factor, highlighting the ongoing challenge of wage gaps within the community.
Household Economic Factors
Household size and structure contribute to the economic dynamics of the 78702 area. The average household size in this neighborhood affects overall economic stability, influencing spending patterns and economic diversity. With a precise figure of 14,930 civilian employees over the age of 16, households here are characterized by their labor force participants and their varied income brackets.
Economic diversity is another notable aspect, reflecting a wide range of socioeconomic statuses within the community. Some households show substantial earning power, whereas others may hover near or below the poverty line.
Employment and Unemployment
Employment rates in 78702 are relatively stable, with an unemployment rate of around 3%. This is comparatively low and indicates a healthy local job market. Employment opportunities span various sectors, contributing to the area's robust economic activity.
On the other hand, sectors that offer lower wages might contribute to the income disparities seen across households. Efforts to reduce unemployment and enhance job quality could have lasting effects on the neighborhood’s economic well-being.
Ensuring a balance between job availability and income levels remains a critical objective in this ZIP code.
Housing Market
In the ZIP code 78702, located in Travis County, the housing market displays unique trends and characteristics. This section delves into housing unit types, ownership statistics, and rental dynamics.
Housing Units and Types
The housing inventory in 78702 is diverse, consisting of both single-family homes and multi-family units. Single-family homes are the predominant type, but the area also contains several duplexes and newer condominium developments.
Recent trends indicate a median sale price of $693,000, with homes selling within approximately 52.5 days. Buyers find a competitive environment given the limited inventory and varied property types.
The median price per square foot stands at $498, reflecting the area's desirability and rising property values.
Ownership and Value Statistics
Homeownership in 78702 exhibits strong value metrics. The median home value has slightly decreased by 1.9% year-over-year but remains significantly above the national average.
Sale-to-list price ratios average 102.73%, with properties often selling for about 2.73% above the asking price. Such figures highlight the market's competitiveness and desirability.
Current data shows a decline in price per square foot by roughly 14.7%, an indicator of changing market dynamics. However, high list-to-sale ratios underscore strong buyer interest despite price adjustments.
Rentals and Vacancy Rates
Rental properties form an essential part of the 78702 housing mix. The area sees strong demand with both traditional rentals and shorter-term leases like those offered on platforms such as Airbnb.
The rental market's vacancy rates are typically low, reflecting high demand. This demand is driven by the neighborhood's proximity to downtown Austin and its vibrant cultural scene.
Rent prices, while competitive, remain attractive to renters seeking urban living. Recent trends point towards slight increases, keeping pace with the neighborhood's overall real estate trends. The rental market provides a balanced mix of affordability and desirability for prospective tenants.
Safety and Security
In the 78702 zip code of Austin, TX, crime rates reflect certain safety concerns that residents should be aware of. The rate of violent crime in this area stands at 10.57 per 1,000 residents.
Without a home security system, a home is 300% more likely to be robbed, highlighting the importance of security measures.
Crime distribution varies significantly within the area. The southwest part is generally considered the safest, while the west neighborhoods have a higher risk. Residents here face a 1 in 64 chance of being victims of violent crime.
Property crime rates in Austin, including the 78702 area, are high. The property crime rate is 73.4, considerably above the national average of 35.4. Installing security systems is a vital step in safeguarding properties.
The presence of 61 registered sex offenders adds another layer of complexity to the area's safety dynamics. Monitoring these individuals and maintaining awareness is critical for community security.
Crime maps can be useful tools. Areas marked in green are safest, while red and yellow indicate higher risk zones. Utilizing these maps can help residents stay informed about the safer parts of the neighborhood.
Ultimately, maintaining safety in 78702 requires a combination of awareness, technology, and community vigilance.
Additional Information
The area within ZIP code 78702 in Austin, Texas, exhibits unique characteristics in terms of its time zone, living environment, and population dynamics.
Time Zone and Living Environment
78702 is located in the Central Time Zone (CST). Residents experience typical central U.S. time alignments, which accommodate standard business hours and daylight saving time adjustments.
Living in 78702 means being in a vibrant part of Austin, with proximity to downtown and iconic locales like the 6th Street District. This area offers a mix of older homes and new developments, reflecting its dynamic transformation.
Population Growth and Changes
The population of 78702 has seen significant changes in recent years. As of the 2020 U.S. Census, it stood at 25,910, with a steadily growing number now estimated at 29,748.
The demographic makeup is diverse, including a mix of male and female residents, with significant representation among African American and other races. The growth rate in this ZIP code outpaces the national average, pointing to its rising popularity and ongoing urban development.
