Stuck choosing between a lock-and-leave condo off South Congress or a bungalow with a yard in Barton Hills? You’re not alone. In Austin’s 78704, both options offer great lifestyles, but the right fit comes down to your monthly budget, your appetite for maintenance, and the rules that come with each property type. This guide shows you the real tradeoffs so you can make a confident decision. Let’s dive in.

78704 at a glance

78704 covers Zilker, Bouldin Creek, Travis Heights, South Lamar, Barton Hills and nearby pockets. You’ll find walkable streets, quick access to Zilker Park, and a short hop to downtown venues and restaurants. Housing types range from small-lot bungalows and duplexes to low-rise condos and newer infill. For a quick neighborhood overview, explore this summary of 78704 communities and housing styles from a local resource on 78704 neighborhoods and lifestyle.

Recent portal snapshots vary by methodology. Zillow’s index recently hovered near the low $700Ks for the ZIP, while other portals showed a median sale price closer to the mid $700Ks to low $800Ks with longer time on market. Treat these as directional. Use MLS comps for the specific street to dial in real pricing and leverage in today’s slower, less competitive environment.

South Lamar and nearby corridors continue to see mixed-use redevelopment and higher-density projects. That can add future condo and townhome supply and may shift block-by-block character over time. For context, see local reporting on South Lamar’s redevelopment and zoning changes.

Condos vs. homes: the real monthly number

Purchase price vs. total cost

Condos in 78704 often start at a lower entry price than nearby single-family homes, though luxury units can rival houses. Your true monthly cost includes more than the mortgage. Budget for:

• Principal and interest
• Property taxes
• Insurance
• HOA dues for condos or townhomes
• Utilities and maintenance

Property taxes are a meaningful line item in Austin. The City publishes rates each year, which flow into your effective parcel rate. Plan with an effective tax-rate estimate and refine it once you have an address using local taxing-entity data. You can review the City’s current budget context here.

Quick monthly-cost worksheet (illustrative)

Use these steps to compare a condo and a house. Replace the example numbers with your own.

Example assumptions only:

• Condo price: $550,000; HOA: $400 per month; HO-6 insurance: $700 per year; effective property tax: 1.9%.
• Single-family price: $850,000; no HOA; HO-3 insurance: $1,200 per year; effective property tax: 1.9%.

Steps:

1. Mortgage payment using your rate and term.
2. Monthly property tax = purchase price × effective rate ÷ 12.
3. Monthly insurance = annual premium ÷ 12.
4. Add HOA dues (if any).
5. Add a maintenance reserve for a house, often $150 to $400 per month depending on age and yard.

A lower condo price can be partially offset by HOA dues and potential assessments. A higher house price increases property taxes and likely maintenance. The winner is the one that fits your cash flow and priorities.

Maintenance and control

Condos: less upkeep, shared systems

In most condos, the HOA covers exterior elements like the roof, structure and common areas. You handle the interior and your personal property. This can reduce day-to-day chores, especially if you travel or prefer a lock-and-leave setup. Understand that shared responsibilities come with dues and the possibility of special assessments. Learn the basics of what a condo is and how responsibilities split in this condo overview.

Houses: full control, full responsibility

With a detached home, you control project timing and design, from landscaping to roof replacement. You also carry the work and costs for those projects. If outdoor space, privacy and autonomy rank high for you, a house may be worth the added effort.

HOA health and hidden risks

Resale certificate and Texas protections

When buying into an HOA, request the resale certificate early. Under Texas SB 1588, fees for this document are capped and delivery timelines tightened. The resale certificate and supporting disclosures reveal transfer fees, budget line items and rules that can affect your costs and use of the property. Read an accessible summary of Texas SB 1588 and HOA consumer protections.

Reserves and special assessments

Ask for the HOA’s current budget, balance sheet, most recent reserve study or reserve policy, and any record of special assessments. Weak reserves and recurring surprises can change your affordability math overnight. This industry guide outlines why reserves matter and common budgeting pitfalls for associations: HOA budget and reserve best practices.

Privacy, noise and layout

Condos may share walls, floors and ceilings and usually have limited private outdoor space. If you are sensitive to sound or want a yard, a single-family home or a top-floor, limited-shared-wall condo can be a better fit. Visit at night and on weekends to gauge noise, parking and building activity. For condo basics and tradeoffs, see this primer.

Insurance and liability differences

Condo owners typically carry an HO-6 policy that covers the interior, personal property, liability and often loss-assessment coverage. The HOA’s master policy covers the building’s shell and common areas. Single-family homes are usually insured with broader HO-3 coverage. Confirm what the HOA’s master policy covers and the size of the master deductible, since owners can sometimes be assessed part of that deductible after a claim. For a plain-English overview, see homeowners policy types including HO-3 and HO-6.

Financing and resale considerations

Condo project requirements

Many lenders review condo projects for reserves, litigation, owner-occupancy ratios and more. If a project does not meet agency guidelines, your loan options can narrow or rates can shift. Have your lender confirm the building’s status early. For context on how agencies evaluate projects, see this explainer on federal condo approval guidelines.

Resale dynamics

Condo values are tied to the building’s overall health and governance. A well-run HOA with clear rules and maintained amenities can support demand. Frequent special assessments, litigation or unclear policies can drag on resale.

Renting and STR rules in Austin

If you plan to rent short term on Airbnb or VRBO, you must follow the City of Austin’s licensing program. Licenses are generally non-transferable, license numbers must be displayed in listings, and hotel-occupancy taxes apply. Building rules can be stricter than the City’s rules, so confirm the HOA’s rental policy and the City’s process before you buy. Review the City’s Short-Term Rental program and requirements.

Flood risk and site checks

Some properties near creeks or low-lying areas can fall within FEMA flood zones, which may require flood insurance. Always check the parcel on FEMA’s map and the City’s floodplain layers during due diligence. Start with the FEMA Flood Map Service Center for an address-level look.

A clear decision framework for 78704 buyers

Step A: Clarify non-negotiables

Rank what matters most:

• Commute and walkability
• Yard or private outdoor space
• Low-maintenance living
• Control over renovations and design
• Comfort with HOA dues and rules
• Need to rent, including STR capability
• Tolerance for resale and market risk

Step B: Street-level testing

• Visit target properties at night and on weekends to check noise, parking and building rhythm.
• For condos, walk the lobby, corridors and amenities. If possible, step into units above, below and next door to assess noise transfer and traffic patterns.

Step C: Documents to request early

1. Resale certificate and any transfer fees. Texas SB 1588 sets rules and caps, so ask for it early. See SB 1588 summary.
2. HOA budget, current balance sheet, reserve study or reserve policy, and bank statement summary. See HOA reserve guidance.
3. Minutes of board meetings for the last 12 to 24 months and any special-assessment history.
4. Master insurance policy and the master deductible amount. Review how loss assessments work with policy types.
5. CC&Rs, rental rules for short-term and long-term leases, guest and parking rules, and pet policies. Cross-check with the City’s STR program page.
6. Any litigation disclosures affecting the association or building.
7. Lender feedback on project approval status for conventional, FHA or other loan types. For context, see federal condo approval guidelines.

Step D: Budget for common surprises

• Add HOA dues and a prudent buffer for assessments to your monthly plan.
• Use an address-specific tax estimate as soon as you select a property. Review City context here.
• Confirm whether the HOA master deductible could be passed to owners after a claim and whether your HO-6 has loss-assessment coverage.

Step E: Hard limits to confirm

• Financing: some condos face project-level constraints. Have your lender screen the building early.
• Rentals: your use must comply with both HOA rules and the City’s STR licensing requirements.

Five red flags to pause or walk away

• No recent reserve study paired with rising special assessments. See why reserves matter in this HOA budgeting guide.
• Unclear or restrictive rental policies that conflict with your plans. Cross-check with the City’s STR rules.
• Building or HOA litigation that could affect financing or resale.
• HOA delinquency rates that strain the budget, or thin reserves with deferred maintenance.
• Location in a FEMA flood zone without a reasonable mitigation or insurance plan. Start with the FEMA flood map.

The bottom line for 78704 buyers

In 78704, the choice is usually convenience and lower daily maintenance in a condo versus privacy, a yard and long-term control in a house. Your best fit will come from testing your monthly number, reviewing HOA health, confirming financing and rental rules, and checking site risks like flood exposure. If you want a clear side-by-side using live MLS comps and a tailored cost model, reach out to Cody Hobza for research-backed guidance.

FAQs

What is the typical price gap between condos and houses in 78704?

• Portals recently showed condos trending below single-family prices in this ZIP, but luxury buildings and small-lot homes can blur the gap. Use street-level MLS comps for accuracy.

How should I compare HOA dues to house maintenance?

• Add HOA dues plus a buffer for assessments to the condo’s monthly number, and add a monthly maintenance reserve to the house. Then compare totals using your actual mortgage, tax and insurance figures.

What is a Texas HOA resale certificate and why does it matter?

• It discloses fees, budgets, rules and other association details that affect affordability and use. Texas SB 1588 caps certain fees and sets deadlines, so request it early and review carefully. See the SB 1588 summary.

Can I legally run a short-term rental in 78704 if the HOA allows it?

• You must comply with both HOA rules and the City of Austin’s licensing program, including displaying your license and following tax rules. Start with the City’s STR program.

Do I need flood insurance for a 78704 property?

• It depends on the parcel’s flood zone and your lender’s requirements. Check the property on the FEMA Flood Map Service Center and factor the result into your budget and due diligence.