$152,310

Property Overview

This newly constructed one-bedroom condominium at Congress Lofts on Congress Avenue represents a rare opportunity for income-qualified buyers seeking homeownership in Austin, TX. Completed in 2023, the 534-square-foot unit offers a modern living space in a vibrant South Austin neighborhood known for its walkable streets, eclectic dining, and cultural attractions. The building itself provides contemporary finishes and amenities while maintaining affordability through the City of Austin's Income Restricted Affordable Housing program.

This Congress Ave property is subject to a 99-year Affordable Housing Covenant designed to keep homeownership accessible for qualified Austin residents. Eligible buyers must have household income at or below 60% of the Austin Round Rock MSA median family income and commit to owner-occupancy as their primary residence. The resale price appreciation is stabilized at 2% annually, providing long-term predictability, while the City of Austin maintains a right of first refusal on future sales.

Prospective buyers should initiate the AHFC Income Eligibility process with their lender immediately, as certification is required before closing. The listing agent at Sprout Realty has extensive experience navigating this affordable housing program and is available to guide qualified buyers through each step of the process.

Vox Real Estate Insight

The Vox Residential team recognizes that affordable housing programs like this one at Congress Lofts create genuine wealth-building pathways for eligible Austin households, and South Congress continues to strengthen as a neighborhood with consistent investment in transit and local commerce. For qualified buyers, this represents a meaningful entry point into Austin homeownership with built-in protections against rapid displacement.

Agent Description

This is an income restricted affordable housing unit at Congress Lofts, subject to a recorded City of Austin Affordable Housing Covenant (Travis County Document No. 2025120613, 99 year term). This is not a traditional resale. Buyers must be certified by the City of Austin (AHFC) as an Eligible Buyer prior to purchase, with household income at or below 60% of the Austin Round Rock MSA median family income (adjusted for household size) and subject to asset limits. Resale price is capped by covenant formula (2% simple annual appreciation on the original purchase price, not market value), and the City of Austin holds a right of first refusal on any future sale. Buyer must occupy as their primary residence; the unit cannot be used as a rental or investment property. Buyers should review and begin the AHFC Income Eligibility Packet (attached in MLS) with their lender early, as approval is required before closing. Listing agent is experienced with this program and available to help guide buyers through the process.

Property Details

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