Within the city currently I believe 400k is actually on the low end.
Originally I wrote 500k, but changed it to avoid "no one should be complaining if they life in a half a million dollar home, that can buy so much in Ohio!!" type comments.
Funny enough $400k is pretty spot on: https://www.zillow.com/austin-tx/home-values/
Joking aside, it wouldn't surprise me if $400k was close to the median price for homes within the city limits.