Ed Neuhaus 
Every week I talk to buyers who have it narrowed down to three places: Dripping Springs, Bee Cave, or Lakeway. They’ve done the research, they’ve driven through all three, and they’re still not sure. And honestly? That makes complete sense. These communities are close enough to share a zip code border but different enough that the wrong choice can leave you feeling like you landed in someone else’s life.
I live out this way. My daughter goes to Lake Travis High School. I’ve got clients in all three markets right now — people building custom homes in Dripping Springs, families in Provence Bee Cave who love the fact that Whole Foods is a 4-minute drive, and retirees in Lakeway who spend more time on Lake Travis than they do in their living room. So lets just talk about this honestly.
The Short Version (For People Who Want to Skip to the Answer)
If you want the Hill Country dream — land, quiet, starry skies, and a slower pace — that’s Dripping Springs. If you want suburban convenience without sacrificing Hill Country zip codes, that’s Bee Cave. If you want lake access and a resort-style lifestyle that starts the moment you pull out of your driveway, that’s Lakeway.
None of them are wrong. But one is right for you specifically, and the rest of this article will help you figure out which one.
The Three Vibes, Honestly
Dripping Springs: The One That Feels Like Texas
Dripping Springs is the one that still feels like what people imagine when they say Hill Country. Cedar and live oak. One-lane roads that wind past horse properties. Wineries and distilleries built into limestone hillsides. Hamilton Pool. Wedding venues everywhere — and I mean everywhere. They call it the Wedding Capital of Texas and it’s not just marketing.
The community has grown a lot in the last decade, but it hasn’t quite urbanized. There are subdivisions out here — some nice ones — but there’s also still raw acreage, rural neighbors with livestock, and enough space between homes that you genuinely feel away from things. If you moved here from a city and you’re chasing that feeling, this is where you find it.
What Dripping Springs is not: convenient. Bee Cave has Hill Country Square, Whole Foods, Costco, and a dozen restaurants within a half mile. Dripping Springs has a HEB, some solid local spots, and a growing scene that’s still finding itself. If you’re used to urban walkability, the adjustment is real. That’s not a criticism — it’s just the trade. You get Hamilton Pool and Pedernales Falls State Park basically in your backyard. You give up the restaurant you can walk to at 9pm.
Bee Cave: The One That Actually Works
Here’s what nobody talks about with Bee Cave: it is genuinely functional in a way the other two aren’t. Costco, Whole Foods, Central Market (15 minutes away), Torchy’s, several real gyms, a movie theater, urgent care, great coffee shops — it’s all right there at Hill Country Square or in the immediate orbit. The commute to downtown Austin is 25-35 minutes on a good day. The roads are newer. The neighborhoods are polished.
The word I keep landing on is curated. Bee Cave feels like someone designed it. The master-planned communities have HOAs with rules about fence heights and exterior paint colors and landscaping maintenance. That is either really appealing or really not, depending on who you are. Communities like Provence, Spanish Oaks, Falconhead, Lake Pointe, and Sweetwater all have their own personalities but share that maintained, well-organized energy.
What you’re not getting is authenticity in the way Dripping Springs delivers it. Bee Cave is nice. It’s beautiful, honestly. But it doesn’t feel accidental. Everything is a little too placed, a little too clean. Some people love that. If you moved here from a manicured suburb in the northeast and you were looking to replicate that quality of life in Texas, Bee Cave makes total sense.
Lakeway: The One That Runs on Lake Time
Lakeway is its own thing. The entire community is oriented around Lake Travis in a way that neither Bee Cave nor Dripping Springs can match. Not just because the lake is nearby — though it is, you can be on the water in 10 minutes from most neighborhoods — but because the whole lifestyle feels built around it. The Rough Hollow Yacht Club, Lakeway Marina, Lakeway Resort and Spa, the ebb and flow of summer boat traffic. In Lakeway, you are either a lake person or you’re renting from one.
Older Lakeway has a slightly different energy than newer Lakeway. The original neighborhoods around Lakeway Drive and Lohman’s Crossing have a 1980s-90s resort-town feel — not dated exactly, more like a place that’s been here long enough to be comfortable. The newer sections like Rough Hollow, Vineyard Bay, and Serene Hills are more polished and more expensive, pushing up into Bee Cave territory on price.
The tradeoff: Lakeway is a little further out, a little less convenient for everyday errands, and the commute to tech corridors like The Domain or North Austin adds 10-15 extra minutes compared to Bee Cave. If your job is downtown or in Southwest Austin, that’s manageable. If you’re driving to Dell or Apple or the major tech campus cluster up 183, Lakeway is a long day.
Price Ranges: What You Actually Get
As of early 2026, here’s the honest market snapshot. These aren’t cherry-picked — I’m pulling from current data across all three markets.
Dripping Springs: K to K for most buyers
The median sale price is running around -590K right now, down from peak 2022 numbers. What that buys you is legitimately different from what K gets you in Austin proper. You’re talking 2,500-3,200 square feet, newer construction in a planned community, or an older home on a real lot with trees.
The new construction inventory here is substantial. Builders flooded the zone over 2020-2023 and the market is still working through it. That’s good for buyers — you have negotiating leverage right now. We’re seeing sale-to-list ratios around 92%, which means sellers are conceding 7-8% on average. That’s real money. On a K home, that’s -50K in savings versus peak market.
Bee Cave: K to M+ depending on the neighborhood
Bee Cave has a much wider price range than people expect because it contains everything from entry-level new construction to Spanish Oaks, which is its own universe of luxury. The median hovers around K-.1M, but that number doesn’t mean much without context. Provence and Falconhead run K-.1M. Lake Pointe and Sweetwater are K-.4M. Spanish Oaks starts at .5M and goes up from there.
What you get for K in Bee Cave is genuinely impressive — 3,000+ square feet, resort community amenities, newer construction, and Eanes or Lake Travis ISD depending on where exactly you land. The Eanes zone commands a premium because Eanes ISD is legitimately the top-ranked district in Central Texas. That price delta is real and it’s rational.
Lakeway: K to .2M for most of the market
Lakeway is the middle road on price. Median is around -780K right now, and the market has been cooling — down about 6-9% from peak depending on the neighborhood. Old Lakeway (the established neighborhoods closest to the water) holds its value better because land and lake proximity don’t replicate. Rough Hollow and the newer master-planned communities have absorbed more of the price softness because there’s more inventory to compete with.
A K budget in Lakeway gets you into solid neighborhoods with genuinely good schools and weekend lake access. That’s a hard combination to beat at that price point.
Schools: The Honest Breakdown
I wrote an entire piece on Eanes vs Lake Travis vs Dripping Springs ISD if you want the full deep dive. Here’s the summary version.
Eanes ISD — which serves the western edge of Bee Cave and the Barton Creek area — is the best public school district in Central Texas by most measures. Westlake High School is ranked 19th nationally among public high schools. The AP participation rate is over 90%. It earned a spot in the top 10 nationally according to Niche. If you have school-age kids and you can afford Eanes territory, it’s worth the premium. Full stop.
Lake Travis ISD — which serves most of Bee Cave, all of Lakeway, and the surrounding area — is excellent. TEA rated it a 90/100 A district in 2025. Lake Travis High School is consistently ranked #2 in Travis County. Strong athletics program, strong academics, large campus with a lot of options for kids. My daughter goes here and I have zero complaints.
Dripping Springs ISD is genuinely good — TEA B at 89/100, which is essentially tied with LTISD’s 90/100 on the practical level. Niche ranks it #3 in the Austin area. The graduation rate is 96.3%. It gets overlooked because it’s in Hays County and doesn’t have the brand recognition of Eanes or LTISD, but families who move out there are usually pleasantly surprised.
Bottom line: if Eanes ISD is non-negotiable, you’re in the western Bee Cave/Barton Creek zone. If you want a great district and you’re more flexible, LTISD (Bee Cave or Lakeway) and DSISD are both solid choices that most families are very happy with. We also have a full Lake Travis ISD vs Dripping Springs ISD comparison if that specific choice is where you’re stuck.
Commute Reality
Let me give you the real numbers because the listings never tell you this.
Off-peak, Bee Cave to downtown Austin is 25-35 minutes via TX-71. Lakeway adds 5-10 minutes to that. Dripping Springs on TX-290 is another 10-15 minutes past Bee Cave, so you’re looking at 35-50 minutes off-peak. These are optimistic numbers.
During rush hour — real rush hour, 7:30-9am on a Tuesday — add 20-35 minutes to all of those. The corridor coming in on 71 backs up at William Cannon/MoPac. If you’re going downtown or to the tech campuses in Southwest Austin, it’s survivable. If you’re going to the Domain, Round Rock, or North Austin, you should actually drive the route before you buy. I’m not saying don’t do it. I’m saying eyes open.
The good news: remote work has genuinely changed this math for a lot of people. If you’re commuting two days a week instead of five, the calculus on Dripping Springs changes completely. That’s a big part of why Dripping Springs grew so fast. Suddenly the extra 15 minutes wasn’t 15 minutes every day — it was 15 minutes twice a week.
Property Taxes: The Number Everyone Asks About
I have a whole article on Bee Cave property taxes and a cost-of-living breakdown at what it actually costs to live out here. The short version:
Bee Cave has the lowest city tax rate in the area — /bin/zsh.02 per , which they’ve held for 20 straight budget cycles. That sounds amazing until you realize that the city rate is just one piece. You still pay Travis County, Lake Travis ISD or Eanes ISD, and MUD district rates on top of that. Your total effective rate is in the 1.8-2.0% range.
Lakeway’s city rate is higher at /bin/zsh.1696, so on an equivalent home, you’re paying more in city taxes than in Bee Cave. Total effective rate ends up similar — 1.9-2.1% range.
Dripping Springs is in Hays County, which runs a slightly lower overall rate than Travis County. Total effective rates often land in the 1.6-1.9% range. On a K home versus a M home, the county difference matters less than the simple fact that you’re starting from a lower home value. Your annual tax bill in Dripping Springs can genuinely be -6K lower than a comparable lifestyle purchase in Bee Cave.
New Construction
All three communities have significant new construction right now, but the situation is different in each.
Dripping Springs has the most available inventory and the most price flexibility. Builders over-built relative to 2022 demand projections and they’re moving product. If you want new construction leverage, Dripping Springs is your market. Check out our full Dripping Springs new construction guide for every active community and builder.
Bee Cave new construction is more constrained because land is more limited and more expensive. Provence (Ashton Woods), MI Homes, and Taylor Morrison are all active, but the supply pipeline isn’t as deep. Prices are higher and the leverage isn’t as strong as in Dripping Springs right now.
Lakeway’s new construction is mostly concentrated in the Rough Hollow and surrounding master-planned communities. If lake access is the priority, some of those newer Lakeway communities offer it in a way that’s harder to find in the other two markets.
HOA Culture: A Real Difference
This is something buyers often don’t ask about until after they’ve bought, and then it’s a big deal.
Bee Cave is HOA country. The master-planned communities that make up most of modern Bee Cave — Falconhead, Provence, Sweetwater, Lake Pointe, Spanish Oaks — all have active HOAs with real rules. Exterior paint colors. Fence requirements. Lawn maintenance standards. Some of them have restrictions on parking in your own driveway. These aren’t theoretical rules that nobody enforces. They get enforced.
If you’re coming from a city where a condo HOA managed your building, that’s familiar territory. If you’re coming from a place where you could do whatever you wanted with your property, the transition takes some adjustment. A lot of people genuinely love the HOA model — it’s why those neighborhoods look the way they do. But it’s not for everyone.
Lakeway has some HOA communities (Rough Hollow especially) and some older neighborhoods without. If you want lake lifestyle without the rules, look at the older established neighborhoods around the original Lakeway core. You’ll give up some of the newer amenities but you’ll gain flexibility.
Dripping Springs has a mix — newer subdivisions with HOAs, but also custom-lot properties and rural acreage where you’re on your own. If you want a chicken coop, a workshop, or a guest casita that doesn’t have to match the main house, Dripping Springs is where that’s possible.
Dining, Shopping, and Getting Out of the House
Bee Cave wins on convenience. It’s not close — it’s not even a competition. The restaurant scene at Hill Country Square and along FM-620 is legitimate: Torchy’s, Juiceland, several quality local spots, and delivery apps that actually reach you. You can run the full errand loop (groceries, pharmacy, dry cleaning, gas) in 45 minutes without getting on the highway.
Dripping Springs has a local food scene that’s genuinely good and getting better — a handful of standout local restaurants, craft breweries like Treaty Oak, the distillery trail, and Chick-fil-A if you need proof that it’s not totally rural anymore. But the grocery situation is a HEB and a CVS, and you’re driving to Bee Cave or Buda for Costco. People out here are used to it. Some people love it.
Lakeway has solid options — the HEB Plus on Lohmans is well-stocked, there’s good food at Rough Hollow’s Canyon Grill, and the waterfront restaurants on Lake Travis are genuinely special in the summer. It’s not as full-service as Bee Cave for daily life, but it’s more than Dripping Springs for most categories.
The Outdoor Life (Where They Actually Differ)
All three communities have Hill Country outdoor access. But they’re accessing different parts of it.
Dripping Springs is the trailhead. Hamilton Pool Preserve, Pedernales Falls State Park, Krause Springs, Cypress Creek — these are destination outdoor spots that people drive 45 minutes to reach, and you basically live there. That’s a serious lifestyle advantage that people who love hiking, swimming holes, and natural Texas landscapes put real dollar value on.
Lakeway is the lake. Lake Travis when it’s full is one of the more beautiful bodies of water in Texas. Rough Hollow’s marina, kayak rentals, paddleboarding, boat clubs — if water sports are your thing, Lakeway is the answer and it’s not close. Bee Cave and Dripping Springs have lake access too, but Lakeway owns the relationship with the water in a way the others don’t.
Bee Cave has the amenity package within its planned communities — pools, fitness centers, trail systems, golf at Falconhead, the private club experience at Spanish Oaks. It’s outdoor recreation delivered on a silver platter within a master plan. Less wild, more curated. A lot of people prefer that arrangement.
Who Belongs Where: A Practical Guide
After 16 years helping people make this decision, here’s the pattern I see.
You belong in Dripping Springs if: You want space and land. You love the idea of hiking out your back door. You work remote or have a forgiving commute. You’re drawn to the Hill Country aesthetic rather than the suburban convenience aesthetic. Your kids are young and you’re less school-district-obsessed than you think. You want more house for less money and you’re willing to trade some convenience for it.
You belong in Bee Cave if: Schools are the primary factor and Eanes ISD is specifically important. You want to keep your Austin lifestyle but with more space. The convenience of having everything nearby is a genuine quality-of-life issue for you, not just a preference. You’re upgrading from a nicer Austin neighborhood and you want to upgrade, not compromise. The HOA environment doesn’t bother you and might actually appeal to you.
You belong in Lakeway if: You are actually going to use the lake. Seriously — this matters. Lakeway makes total sense if you’re going to own a boat, get a marina slip, spend weekends on the water. If you’re a lake person, the location premium pays off. It also works for retirees who want resort-style amenities with a slower pace. And for families who love Lake Travis ISD but find Bee Cave prices too steep, Lakeway offers comparable schools at a lower entry point.
Frequently Asked Questions
Ready to Figure Out Which One Is Right for You?
At Neuhaus Realty Group, we work in all three of these communities. Not we have listings there — I mean we actually live and work and drive these roads and know the neighborhoods the way you know your own street. There’s no right answer to this comparison that works for everyone, but there’s definitely a right answer for your family specifically.
The best way to figure it out is usually a single focused day: drive all three, walk a few neighborhoods, have coffee in each town. We do that with clients all the time. It clears up most of the uncertainty faster than any article can.
If you’re ready to start that conversation, reach out to me directly. I’ll tell you what I actually think, including which one I’d steer you away from given your situation. That’s the only way this is useful.
Also worth reading: the true cost of living comparison for all three communities, and our individual market reports for Bee Cave, Lakeway, and Dripping Springs.
