East Austin has traditionally been where home prices have been lower. While this is still mainly true, in some pockets, particularly close to downtown, prices have skyrocketed. The neighborhoods closer to IH35 have become desirable for young professionals who don't want to deal with a long commute. The most well-known neighborhood in East Austin is Mueller (sometimes pronounced "Miller" – aka, theAirport Redevelopment site). The City of Austin spent years planning the redevelopment, and as a result came up with a unique and visionary community – complete with the new Dell Children's Hospital, affordable housing and energy efficient, "green built" homes.
See homes for sale in Mueller.
Other East Austin zip codes are: 78702 and 78722, which are closest to downtown; 78721 and 78723 which are inside Hwy 183; 78741, 78744 and 78747 which are south of the river; 78753 and 78754 in northeast Austin; and 78724, 78742 and 78725 which are further east. You can view homes for sale on my search for homes page, searching by zip code.