A Peak at Lakeway, Texas

By: Joe Cline

Lakeway is a beautiful resort community, situated just west of the major city of Austin, Texas. Appealing to both singles and families or all ages, this area has experienced tremendous growth since its early days as a vacation destination. The area has a crime rate well below the state and national averages, making this community a very safe place for its residents. Made up of a combination of middle class families and wealthy retirees, Lakeway is one of the most desirable areas in which to live, within the suburbs of Austin.

History

Lakeway was developed around an inn and resort that is still a central part of the town. The main attraction of the resort complex was and still is Lake Travis, which offered residents of nearby major cities a place to escape and vacation. In the years following the opening of the inn in 1963, the owners of the Lakeway Inn began selling the surrounding property and a small resort community sprang up. Growth has continued, making the small city a haven for retirees and families with young children. The diversity of the community has changed the area from a Mecca for the wealthy, to a community for those ranging from middle class and upwards.

Economy/Jobs

Lakeway is an affluent area, with a median family income of approximately $94,266, as of estimates in 2006. The unemployment rate is well under the national average, holding at 3.8%, according to most estimates. The majority of the area's available employment is within the Computer Information industry, with technology manufacturing and software development at the forefront of open positions. Current employment statistics show that approximately 16 percent of the Lakeway population is employed within the education and human services fields, including medical positions.

Real Estate

The median price for listed homes in the Lakeway area was $273,100, as of the end of April 2008. Major new developments in the area provide plenty of opportunities for purchasing a newly built home within reasonable price ranges. Compared to the national average, Lakeway has had very few foreclosures over the recent months and area growth has been very steady. Previously occupied homes for sale tend to be hard to find, bringing premium prices on the market. There are many homes in the area, valued at well over a million dollars, in gated communities for added security.

Attractions

The Lakeway area has much to offer its residents and visitors, in the way of local attractions. There are beautiful local parks with hiking trails, water features and activities for young and old, alike. The city has built a skate park for its younger residents to enjoy, as well. Of course, the area of Lake Travis offers fishing boating and water sports opportunities. Area shopping centers include a variety of retailers and restaurants to please all shopping habits and dining tastes. Austin is a short drive away, giving locals access to the nightlife and entertainment of the city, while continuing to leave in the suburban peace and quiet.

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