If you’re searching for an established Austin suburb that feels more like a scenic getaway, Lakeway is the perfect place to begin your luxury home search. What started in the 1960s as a golf and lake retreat for weekenders from Dallas and Houston has blossomed into a bustling, full-time residential community. Today, residents are drawn to its highly-rated school district, stunning natural landscapes, and unique blend of lakeside leisure and upscale living. Lakeway has a mix of established luxury homes and some new luxury homes, depending on the architectural style and location you’re looking for. This comprehensive Lakeway luxury neighborhood guide provides an in-depth look at what makes this area so special. We will explore the lifestyle, the types of homes you can expect to find, and the unique characteristics of its most popular neighborhoods. Whether you’re commuting to Austin or seeking a sanctuary away from the city, you’ll discover why so many luxury home buyers are choosing to call Lakeway home. Scroll down to read our Lakeway Luxury Neighborhood Guide.

Lakeway Luxury Homes for Sale

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Lakeway Luxury Neighborhoods Map

Lakeway Luxury Neighborhood Guide

Use the buttons below to explore our Lakeway luxury neighborhood guide. The profile listed next to each Lakeway luxury neighborhood describes the type of home you can expect to find as of August 2025.

Bella Montagna

4-5 beds, 3-8 baths, 3,000-8,000 sqft, $1.3MMs – $3MM

Creekside at Flintrock

4-5 beds, 4-5 baths, 3,500-5,000 sqft, $1.3MMs – $2.4MMs

Edgewater

3-4 beds, 3-6 baths, 2,200-4,800 sqft, High $800,000s – $2MM

Estates Above Hurst Harbor

Luxury Homes From the $1.5MMs

Estates of Flintrock

3-5 beds, 2.5-6 baths, 2,862-5,233 sqft,$1MMs – $1.8MM

Flintrock at Hurst Creek

3-6 beds, 2-6 baths, 2,000-5,500 sqft, Mid $700,000s – $2.25M

Hills of Lakeway

3-6 beds, 2-6 baths, 2,000-7,000 sqft, High $400,000s – $1.5MM

Rough Hollow

2-7 beds, 2-8 baths, 1,800-9,000sqft, Mid $500,000s – $4.5MM

Round Mountain

3-6 beds, 3-8 baths, 3,500-8,000 sqft, $1MM – $3MM

Serene Hills

3-6 beds, 3-7 baths, 2,500-6,100 sqft, $1MMs – $2.6MM

cardinal hills estates lakeway neighborhood guide

Water Front

4-6 beds, 6-9 baths, 4,000-8,000sqft, $1.8MM’s-$6.5MM’s

Waters Edge at Rough Hollow

4-7 beds, 4-8 baths, 5,300-9,100sqft, $3MMs – $4.5MMs

What is Lakeway, Texas Like?

Lakeway offers a distinct living experience compared to other Austin suburbs. The city has intentionally focused on preserving its natural beauty and promoting outdoor activities rather than developing large-scale big-box retail centers. This approach has cultivated a tranquil atmosphere where rolling hills, mature trees, and stunning lake views are part of the daily backdrop.

The community is situated along the shores of Lake Travis, providing residents with unparalleled access to water-based recreation. Many neighborhoods offer direct lake access, and some even feature waterfront estates with private docks. The lifestyle here is diverse, ranging from exclusive gated and guard-gated communities to luxury country club living and expansive acreage estates.

Originally conceived as a retirement and second-home destination, Lakeway has evolved significantly. The combination of excellent schools, a growing local economy, and proximity to Austin has attracted a wide demographic. While it retains its relaxed, resort-like feel, it is now a vibrant, year-round community for professionals, entrepreneurs, and those seeking an active, high-quality life.

Why Do Luxury Buyers Choose Lakeway?

Luxury home buyers are drawn to Lakeway for a combination of its scenic setting, high-end amenities, and diverse housing options. The area offers a sense of escape without sacrificing convenience, making it an ideal choice for those who want the best of both worlds.

Natural Beauty and Outdoor Recreation: With its prime location on Lake Travis and the surrounding Hill Country, Lakeway is an outdoor enthusiast’s paradise. Boating, fishing, hiking, and golfing are just a few of the activities residents enjoy.
Highly-Rated Schools: The Lake Travis Independent School District is consistently ranked among the best in the state, making it a major draw for households prioritizing education.
Variety of Luxury Homes: From modern new construction to established estates with timeless architecture, Lakeway offers a wide array of luxury properties. Buyers can find everything from sprawling waterfront homes to sophisticated golf course residences and private acreage.
Privacy and Security: Many of Lakeway’s luxury neighborhoods are gated or have 24/7 guard-gated access, providing an extra layer of security and peace of mind.
Proximity to Austin: While Lakeway feels worlds away from the urban hustle, it’s only about a 30-45 minute drive to downtown Austin. This makes it a feasible commute for those who work in the city but prefer a more serene home environment.

newer construction waters edge at rough hollow lakeway

A Look at Popular Lakeway Luxury Neighborhoods

Lakeway is home to several distinguished neighborhoods, each offering its own unique charm and lifestyle. Here’s a closer look at four of the most sought-after communities for luxury home buyers.

Hills of Lakeway

As one of the area’s most established luxury communities, the Hills of Lakeway offers a timeless appeal. This 24/7 guard-gated neighborhood is known for its mature landscapes, stately homes, and world-class amenities. It’s home to The Hills Country Club, which features two championship golf courses designed by Jack Nicklaus. Homes here are diverse, ranging from classic 1980s designs to more recent custom builds, often situated on spacious lots with golf course or greenbelt views.