Dripping Springs, TX—78620
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Dripping Springs, TX
As of Oct '25, the median home price in Dripping Springs, TX is $674,000, with a year-over-year change of -4.6%. This indicates that home prices in Dripping Springs, TX are decreasing. According to Zillow, the 1-year price projection is -1.8%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $674,000 | -4.6% |
| Single Family | $678,000 | -4.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $455,000 | -6.4% |
3 Bed | $508,000 | -5.4% |
4 Bed | $743,000 | -4.7% |
| 5 Bed | $936,000 | -4.4% |
% of Housing Stock
Rental Trends — Dripping Springs, TX
As of July '25, Rentcast reports the average rent in Dripping Springs, TX is $3,150, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Dripping Springs, TX is studios: $1,360, 1-bedrooms: $1,440, 2-bedrooms: $2,170, 3-bedrooms: $2,740, 4-bedrooms: $3,980. The most common rental property sizes in Dripping Springs, TX are 2-bedroom and 3-bedroom, accounting for 48.4% and 22.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,750 | $3,150 |
| Studio Rent | $1,360 | $1,360 |
| 1 Bed Rent | $1,400 | $1,440 |
| 2 Bed Rent | $2,200 | $2,170 |
| 3 Bed Rent | $2,500 | $2,740 |
| 4 Bed Rent | $3,550 | $3,980 |
% of Rental Stock
Property Listings — Dripping Springs, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Dripping Springs, TX is 101. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $859,000 | 5.0% |
Listing Count | 254 | 10.0% |
| Listings as % of Homes | 1.9% | 10.0% |
Days on Market | 101 | 3.0% |
Demographics — Dripping Springs, TX
As of the latest ACS Survey released in 2023, Dripping Springs, TX has a population of 20,600, which has increased by 22.2% over the past 5 years. Dripping Springs, TX is a popular place for families, as children make up 25.3% of the population. The area has a highly educated workforce, with 61.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,600 | 22.2% |
% Under 18 | 25.3% | -5.6% |
% Seniors | 15.5% | 17.4% |
% WFH | 32.5% | 135.5% |
% w/ College Degree | 61.8% | 20.7% |
As of the latest ACS Survey released in 2023, Dripping Springs, TX is a predominantly white area, with 76.0% of the population identifying as white. The white population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Dripping Springs, TX is hispanic, making up 13.7% of the population. Foreign-born residents account for 8.7% of the population in Dripping Springs, TX, and this percentage has increased by 8.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.0% | -5.8% |
% Black | 0.9% | 200.0% |
% Hispanic | 13.7% | -11.0% |
% Asian | 3.9% | 95.0% |
% Foreign Born | 8.7% | 8.7% |
Mortgage and Risk — Dripping Springs, TX
According to HUD data as of 2023, there were 835 mortgage originations in Dripping Springs, TX, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Dripping Springs, TX. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 835 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Dripping Springs, TX
As of 2024, the percent of homes in Dripping Springs, TX under the Section 8 program is 0.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Dripping Springs, TX, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,400 | $1,580 |
| 2 Bedroom | -$340 | $2,200 | $1,860 |
| 3 Bedroom | -$130 | $2,500 | $2,370 |
| 4 Bedroom | -$800 | $3,550 | $2,750 |
Affordability — Dripping Springs, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $674,000 |
| Median Household Income | $147,000 |