Home › Neighborhoods › 78733 vs 78746
78733 (Cuernavaca) vs 78746 (West Lake Hills) · Westlake Austin · 2026
78733 vs 78746: Where Should You Buy in Westlake Austin? (2026 Guide)
The definitive data-driven comparison of Austin’s two most prestigious luxury zip codes — 12 factors, expert analysis, and The Council’s clear recommendation.
The Two Zip Codes That Define Austin's Luxury Market
When buyers ask about Westlake Austin, they’re often actually asking about two distinct geographic areas that share a brand but have meaningful differences in character, pricing, tax rates, and community composition. The 78746 zip code — home to West Lake Hills, Rollingwood, and Barton Creek — is the traditional heart of the Westlake market. The 78733 zip code — home to Cuernavaca, Rob Roy on the Lake, and Austin Lake Estates — is its increasingly sought-after western neighbor.
Both zip codes share what matters most: access to Lake Austin, eligibility for Eanes ISD (for properties within the district’s boundaries), approximately equal proximity to downtown Austin, and the Hill Country character that defines the Westlake lifestyle. What differs is price point, tax rate, community density, and the specific character of the lake access each area provides. Understanding these differences in depth is the foundation of a sound buying decision in this market.
What Each Zip Code Actually Covers
78746 — West Lake Hills, Rollingwood, and Barton Creek
The 78746 zip code is the most recognizable luxury address in the greater Austin area. West Lake Hills is an incorporated city with its own government and strict development controls. Rollingwood is a smaller adjacent municipality known for its established neighborhood feel and excellent value relative to West Lake Hills proper. The Barton Creek area rounds out 78746 with larger estate properties on the limestone escarpment, many adjacent to the Barton Creek Resort and Country Club.
The median sale price in 78746 stands at $3.2 million as of Q2 2026, with West Lake Hills specifically averaging $4.1 million. The most exclusive addresses — waterfront properties on the main body of Lake Austin, and hilltop estates with panoramic views — regularly transact between $8 million and $20 million.
78733 — Cuernavaca, Rob Roy on the Lake, Austin Lake Estates
The 78733 zip code sits to the west of 78746, straddling the boundary between Travis and Williamson counties and encompassing a collection of lake-adjacent communities that are defined by their relationship to Lake Austin. Unlike 78746, where lake access is primarily through private frontage or lakefront ownership, 78733 communities benefit from shared community parks and boat launches that give all residents a connection to the lake regardless of whether they own lakefront property.
The median sale price in 78733 is $2.4 million — approximately $800,000 less than 78746 — but appreciation has been running at 8.7% year-over-year, outpacing 78746’s 6.2%. This divergence reflects growing recognition of 78733’s value proposition.
Head-to-Head Comparison: 12 Factors That Matter to Buyers
Stretching along the limestone escarpment south of Loop 360, Barton Creek offers some of Westlake’s most dramatic topography and some of its most expansive estate parcels. The Barton Creek community includes gated enclaves, golf course properties adjacent to the Barton Creek Resort, and custom-built homes on multi-acre tracts with sweeping hill country views. This is where Westlake’s largest and most secluded properties tend to be found. Price ranges are wide, from $2 million for a well-positioned lot with a modest home to $15 million or more for a fully appointed estate.
| Factor | 78733 (Cuernavaca) | 78746 (West Lake Hills) |
|---|---|---|
| Median Sale Price | $2.4M | $3.2M |
| YoY Appreciation | ↑ 8.7% | ↑ 6.2% |
| Avg Days on Market | 34 days | 28 days |
| List/Sale Ratio | 97.1% | 98.4% |
| Eanes ISD Access | Yes (most areas) | Yes (most areas) |
| Lake Austin Frontage | Community park + private lots | Private lots only |
| Combined Tax Rate (est.) | 1.6%–1.9% | 1.7%–2.1% |
| Entry-Level Price | ~$750K | ~$1.5M |
| New Construction Available | Limited | Limited |
| Miles to Downtown Austin | ~11 miles | ~9 miles |
| Community Boat Launch | Yes (shared) | No(Private only) |
| Best For | Value + lake lifestyle | Prestige + proven market |
Tax Rate Differences: A Meaningful Financial Consideration
The effective property tax rate difference between 78733 and 78746 is modest — typically 0.1% to 0.3% of assessed value — but on multi-million-dollar properties, it translates to real dollars. A $2.5 million home in 78733 might carry a combined tax bill of $40,000 to $47,500 annually. The same-valued home in 78746 might be taxed at $42,500 to $52,500. Over a 10-year holding period at those rates, the difference can approach $50,000 to $100,000.
The tax difference reflects the additional municipal layer of West Lake Hills city government in 78746, which adds a small city tax rate on top of Travis County and Eanes ISD levies. The 78733 area lacks an equivalent city government layer, which simplifies the tax structure and generally keeps rates slightly lower.
Albina Rippy, The Council’s CPA, regularly prepares property tax analyses for clients comparing these zip codes and can model the 10-year and 20-year financial implications of the tax rate difference alongside appreciation projections for each area.
Which Zip Code Is Right For You?
Choose 78746 if: You prioritize name recognition and established prestige, you want the largest selection of luxury listings above $4 million, you prefer the slightly shorter commute to downtown Austin, or you’re seeking a property in a municipality with the most stringent development protections in the area.
Choose 78733 if: You’re seeking maximum value relative to the Westlake lifestyle, you want a community boat launch and shared lake access as opposed to the expense of private lakefront ownership, you’re buying in the $750K–$2.5M range where 78733 offers significantly better selection, or you’re an investor who believes in the convergence thesis that 78733 will continue to appreciate faster than 78746 over the next decade.
The Council RE Group’s perspective: for families, both zip codes are exceptional choices and the decision often comes down to budget and the specific property. For investors and value-conscious buyers, 78733 is the more compelling opportunity at current pricing. For buyers who want the most recognized luxury address in Austin, 78746 remains the standard.
Waterfront Estates vs. Hilltop Properties: Understanding the Premium
Westlake’s most dramatic price premiums attach to its Lake Austin frontage. True waterfront homes — those with private dock access on the main body of Lake Austin — are among the rarest and most coveted assets in all of Central Texas. The lake’s controlled level, maintained year-round by the Lower Colorado River Authority, ensures that boat docks remain functional in all but the most extreme drought conditions, a significant advantage over Lake Travis properties that are subject to dramatic level fluctuations.
Waterfront homes in Westlake begin at approximately $4 million for entry-level properties with modest structures and deep water access, and quickly escalate to $15 million and beyond for showpiece estates with boathouses, infinity pools, and finished square footage exceeding 8,000 square feet. The market for these properties is international in character — buyers frequently arrive from California, New York, and overseas — and competition for premium waterfront listings can be intense regardless of the broader market climate.
Hilltop and escarpment properties offer a different but equally compelling value proposition. Elevated lots throughout Westlake capture views of Lake Austin, the Hill Country, and the Austin skyline that are genuinely spectacular. Many buyers prefer the hilltop experience precisely because it delivers the visual drama of the waterfront without the maintenance obligations and privacy considerations of a lakefront parcel. Hilltop estates in the $3 million to $8 million range often represent the segment’s strongest value-to-lifestyle ratio.
Current Market Conditions: Westlake 78746 in 2026
Westlake’s most dramatic price premiums attach to its Lake Austin frontage. True waterfront homes — those with private dock access on the main body of Lake Austin — are among the rarest and most coveted assets in all of Central Texas. The lake’s controlled level, maintained year-round by the Lower Colorado River Authority, ensures that boat docks remain functional in all but the most extreme drought conditions, a significant advantage over Lake Travis properties that are subject to dramatic level fluctuations.
Waterfront homes in Westlake begin at approximately $4 million for entry-level properties with modest structures and deep water access, and quickly escalate to $15 million and beyond for showpiece estates with boathouses, infinity pools, and finished square footage exceeding 8,000 square feet. The market for these properties is international in character — buyers frequently arrive from California, New York, and overseas — and competition for premium waterfront listings can be intense regardless of the broader market climate.
Hilltop and escarpment properties offer a different but equally compelling value proposition. Elevated lots throughout Westlake capture views of Lake Austin, the Hill Country, and the Austin skyline that are genuinely spectacular. Many buyers prefer the hilltop experience precisely because it delivers the visual drama of the waterfront without the maintenance obligations and privacy considerations of a lakefront parcel. Hilltop estates in the $3 million to $8 million range often represent the segment’s strongest value-to-lifestyle ratio.
Working with Local Experts Makes All the Difference
The Westlake market is not forgiving of inexperience. Off-market transactions — homes that sell before ever appearing on MLS — represent a significant and growing share of total volume at the top of the market. Buyers without relationships at the center of the Westlake real estate community routinely miss the most compelling opportunities, and sellers who choose agents without deep local connections leave pricing intelligence on the table.
The Council RE Group’s network in Westlake is the product of three agents collectively spending over 30 years in this specific market. Natasha Antonioni’s design relationships connect her to architects, contractors, and property owners who trust her to represent their homes with the sophistication they demand. Holly McCormick’s 20-plus years of negotiation experience in 78746 gives her an encyclopedic knowledge of street-by-street value drivers that no algorithm can replicate. Albina Rippy’s CPA background brings a financial precision to pricing and investment analysis that is unique in the local market.
Whether you’re buying your first Westlake property or selling a generational estate, the quality of your representation matters enormously. The Council invites you to experience what it means to have three specialists working on your behalf at every stage of your transaction.
Frequently Asked Questions
About Westlake Austin Real Estate
Is 78733 part of Westlake Austin?
The 78733 zip code is geographically adjacent to and culturally associated with the Westlake community, but it is technically separate from the City of West Lake Hills (which is largely in 78746). Many residents and real estate professionals use the term ‘Westlake area’ to encompass both zip codes, particularly the communities along Lake Austin in 78733. Both areas share Eanes ISD access and the lake lifestyle that defines the Westlake market.
Which zip code has better Eanes ISD school access?
Both 78746 and 78733 offer Eanes ISD access for most properties within each zip code. The specific school assignment depends on the exact property address, not the zip code alone. Some properties in both zip codes fall outside Eanes ISD boundaries. The Council RE Group verifies school district assignments for every property we evaluate for families with school-age children.
Is 78733 a good investment compared to 78746?
From a pure appreciation standpoint, 78733 has been outperforming 78746 on a percentage basis (8.7% vs 6.2% year-over-year as of Q2 2026), suggesting that the market is recognizing and closing the value gap between the two areas. Albina Rippy’s analysis suggests this convergence may continue for several more years. For investors seeking appreciation potential, 78733 presents a compelling case at current pricing.
What are the main drawbacks of 78733 vs 78746?
The primary differences that favor 78746 are: slightly shorter commute to downtown Austin, greater name recognition with out-of-state buyers, larger selection of listings above $4 million, and the additional development protections provided by West Lake Hills city government. For buyers who specifically want the West Lake Hills address or need properties above $4 million, 78746 remains the stronger market.
Can I find homes under $1 million in either zip code?
In 78733, homes in the $750,000 to $1 million range do exist, primarily in inland subdivisions with Eanes ISD access. In 78746, the sub-$1 million market is extremely limited and primarily consists of small condos or townhomes rather than single-family homes. If your budget is below $1.5 million and you want Eanes ISD, 78733 offers significantly more options.
Talk to a Westlake Expert
Get personalized guidance from The Council RE Group.
No spam. We respond within one business day.
Market Snapshot
78733 Median Price
$2.4M
78746 Median Price
$3.2M
78733 YoY
↑ 8.7%
78746 YoY
↑ 6.2%
78733 Entry Price
~$750K
78746 Entry Price
~$1.5M
Q2 2026 · Austin MLS Data
Related Articles
Go Deeper on
78733 vs 78746
Not Sure Which Zip Is Right For You?
The Council
Will Help
You Decide
Three specialists with deep knowledge of both 78733 and 78746. We’ll match you to the right neighborhood for your goals.
