That is more than double the median income for Texans overall. The 2019 median household income for Texas sits at $61,874.
The population of Lakeway also grew a healthy 19.11% in the same time period as the median age of city residents of 48.4 remains firmly within the prime employment years of men and women in the U.S. Prime employment years, as defined by the U.S. Bureau of Labor Statistics, are between the ages of 25 and 54.
Also notable, is Lakeway’s growing reputation as a place to raise a family. A fact Lakeway city planners and citizens became well aware while writing Lakeway’s comprehensive plan, which was finalized in March of this year, said Lakeway Mayor Sandy Cox.
“We were pretty much a retirement community as recently as the mid-2000s,” Cox said. “And we’ve had a lot more of that young family come in.”
It should come as no surprise that there is high demand to live in Lakeway, given the city’s close proximity to Austin and the rolling views of the Texas Hill Country, Cox said. But also driving the income growth within the city is the type of homes being built.
“We have a lot of green space; we have resort-style living; so it commands a definite price point of house and income,” she said.
2019 Local demographics in Lakeway
The U.S. Census Bureau’s data indicates the median age in Lakeway is about 48.4 years old. The largest age group is 40- to 59-year-olds.
0-19: 3,489 23.05%
20-39: 2,100 13.87%
40-59: 4,932 32.58%
60-79: 4,025 26.59%
80+: 592 3.91%
Hispanic/Latino is not a race, but the Hispanic/Latino percentage below may include multiple races listed. The races listed, however, do not include Hispanic/Latino residents.
Black or African American: 2.6%
American Indian or Alaska Native: 0.1%
Native Hawaiian or other Pacific Islander: 0%
Some other race: 0.5%
Two or more races: 2.7%
(of any race) Hispanic or Latino: 9.2%
*Census data may not add up to 100% due to rounding
According to U.S. Census data, the percent of Lakeway residents who have achieved the following:
High school diploma or higher 99.3%
Bachelor’s degree or higher 69.3%