The homes in San Antonio ZIP code 78203 on the East side of downtown near the Alamodome increased in value by 235% since 2016. Credit: Shutterstock / Felix Mizioznikov

While home prices are up across San Antonio, a new study shows that one local ZIP code has surpassed others in its rapid jump in cost.

Home values in San Antonio’s 78203 ZIP code, which includes the east-of-downtown neighborhood near the Alamodome, have shot up 235% between 2016 and 2023, according to a study from Texas Real Estate Source. That’s the second-highest increase in the state over that period.

Home values in 78203 jumped from a meager $55,287 in 2016 to $185,505 in 2023, according to the study.

“While demand, population growth, and housing inventory have influenced home prices throughout the state, this data reveals the transformation of numerous urban neighborhoods through substantial investment and development while also highlighting changes in rural areas attributed to both the impact of COVID-19 and the exodus [from] major metropolitan areas,” the study said.

Indeed, the Lone Star state ZIP code that tallied the highest value increase over the past seven years was 78954 in Round Top, east of Austin. The average home price there rose from $301,002 in 2016 to $1,055,259 in 2023.

Texas ZIP codes that have increased the most in home value between 201 and 2023, according to Texas Real Estate Source include:

  1. 78954, Round Top, Fayette County, +251%
  2. 78203, San Antonio, Bexar County, +235%
  3. 75215, Dallas, Dallas County, +228%
  4. 75216, Dallas, Dallas County, +220%
  5. 75212, Dallas, Dallas County, +218%
  6. 75401, Greenville, Hunt County, +208%
  7. 76105, Fort Worth, Tarrant County, +204%
  8. 76104, Fort Worth, Tarrant County, +197%
  9. 75210, Dallas, Dallas County, +195%
  10. 75203, Dallas, Dallas County, +189%

The majority of ZIP codes with the biggest increases are in the Dallas-Fort Worth Metroplex. Perhaps surprisingly, no ZIP codes in rapidly growing Austin’s Travis County made the list.

The staggering increase in  San Antonio’s 78203 ZIP code could be read as emblematic of a larger housing-affordability crisis, which is displacing lower-income residents, including those who have been here for generations.

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This article appears in Jun 28 – Jul 11, 2023.

Michael Karlis is a multimedia journalist at the San Antonio Current, whose coverage in print and on social media focuses on local and state politics. He is a graduate of American University in Washington,...