What it's like to live in Lakeway
Lakeway is a small city in Texas with county unemployment below the national average, household incomes running above the national average, crime rates well below the national average, and a highly educated workforce. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Lakeway deals with rent well above the national average, home prices well above the national average, commute times longer than most cities, and air quality that falls short of national benchmarks.
The good
- Low unemployment in the county
- Higher-than-average incomes
- Low crime rates
- Highly educated workforce
- Average class sizes
The not so good
- Rent well above the national average
- High home prices
- Above-average commute times
- Air quality concerns
- Hot summers
How Lakeway compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Lakeway
Based on Lakeway's median rent, home value and household income
To rent
$5,962
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $119,240 a year
- 46% of Lakeway renters spend 30% or more of their income on rent
To buy
$168,260
a 20% down payment on the median home
- With 10% down: $84,130
- Homes cost 4.4× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▲ 111% above US
$2,981/mo median rent
Rent is expensive here, at $2,981 a month median and well above the national average. This is the kind of city where housing costs deserve serious budgeting before committing to a move. Home prices are steep, with a median around $841,300. Renting first to get a feel for the city before buying is often the more practical route.
Median home value $841,300 · 46% of renters cost-burdened
Job market
3.4% county unemployment
Unemployment in Travis County is 3.4%, a little below the national average of 4.3%. That's the county-wide rate; BLS doesn't measure a place this size on its own.
Travis County (county-wide)
Safety▼ 79% below US
68 violent crimes per 100k
Safety is genuinely one of the selling points here. Both violent and property crime run well below the national average, the kind of numbers that fade into the background after a week of living somewhere.
Property crime 837/100k · Lakeway Police Department · 2025 data
Getting around▲ 11% above US
29 min average commute
Commutes run about average, at 28.8 minutes. Fine day to day, but it adds up over a year, and where someone lives relative to where they work starts to matter. 5 in 10 workers drive to work; 50% work from home.
How workers get to work
Climate
Summers are hot and humid, with highs regularly hitting 94°F, and winters are chilly but manageable, with lows around 41°F.
Average month
30-year averages, 1991–2020
Education & workforce▲ 106% above US
74% bachelor's degree or higher
This is a highly educated city, with over half the adult population holding a college degree. That tends to shape the job market and the broader culture, and it's a solid indicator of a strong professional scene.
Schools
5 public schools inside the boundary
There are 5 public schools inside the boundary. The student-to-teacher ratio is 17:1, close to the national average of 16:1.
Parks & recreation
The nearest national park or historic site is Lyndon B Johnson National Historical Park (38 miles away). There are 4 national parks and sites within a day's drive.
Bottom line
Lakeway's strongest points are county unemployment below the national average and household incomes running above the national average; the main tradeoffs are rent well above the national average and home prices well above the national average. A year of median rent ($2,981/mo) equals 19% of the median household income here, about the same as the 21% typical nationwide. It tends to suit job seekers (county-wide unemployment is low), anyone prioritizing low crime, and remote workers (50% of workers here already work from home). It may be a harder fit for renters on a tight budget.
Other places near Lakeway
All Texas guides →Moving to Steiner Ranch →
5 mi away · pop. 18,619
Rent $1,955/mo · Income $190,523
Compare with Lakeway →Moving to Cedar Park →
15 mi away · pop. 78,301
Rent $1,846/mo · Income $129,545
Compare with Lakeway →Not sure Lakeway is the one?
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