Just as California beachfront property gave way in demand, home prices in MLS areas two and six are on the rise. For instance, a few years ago you could purchase a two bedroom, 1950’s cottage in area six for about $130,000. That same cottage today will cost $250,000 or more, yet only rent for $1100.00.  As was the case in California, in-demand Austin property is appreciating faster than the rent is increasing.