Round Rock’s current Zillow ZHVI is $407,038 and ZORI is $1,713 a month, implying a 5.1% gross yield before management, maintenance, vacancy, taxes, insurance, financing and capital work. The ZHVI equals 4.1x ACS median household income, while annual ZORI equals 20.7% of that income. These citywide indicators frame entry price and rent capacity, but they do not establish a property’s achievable rent, expenses or net return.
The city has 51,143 housing units, and renters occupy 44.5% of occupied units, indicating meaningful rental tenure without proving liquidity for any unit. ACS surveyed occupied housing reports a $418,600 median home value and $1,763 median gross rent; gross rent includes contract rent plus selected utilities. Those ACS measures cover different concepts and periods from Zillow’s typical city value and observed market rent, so they should be compared as separate lenses, never averaged.
Direct city depth is mixed. ACS classifies 50.8% of renters as rent-burdened, while single-family homes are 67.4% and large multifamily properties 16.3% of the housing stock. Among vacant units, 38.8% were for rent; vacancy reasons are survey context, not available investment inventory. Population was 127,786, up 2.7% between overlapping ACS five-year vintages; this is not annualized, is not an event count, and may reflect boundary changes. Median household income is $99,287, with poverty at 7.8% and unemployment at 3.8%. These citywide facts describe demand constraints and composition, not tenant quality or leasing speed.
In Travis County, county FHFA home-price change was -1.7% year over year and the county property-tax rate was 1.477%, offering cost and pricing context rather than city measures. In Williamson County, county listings had a median 58 days on market and 29.9% showed price reductions, signaling negotiating context only for that county. In the Austin metro, metro jobs grew 1.39% year over year and metro supply was 5.2 months, combining labor support with meaningful resale choice. The national 30-year mortgage rate was 6.58%, a national financing benchmark rather than a Round Rock borrowing quote.
Underwriting remains limited by citywide typicals, survey margins, overlapping vintages, and county or metro data whose boundaries and denominators differ from the city. Next, verify the subject’s purchase price, current and market leases, concessions, utility responsibility, taxes by parcel and applicable county, insurance and hazard terms, association charges, repairs, capital reserves, management, tenant screening, and realistic downtime. Then calculate property-level cash flow under lender-specific terms and stress rent, vacancy, expenses and exit assumptions rather than treating gross yield as a net return.