The deaf community is spread around, but you would be wise to consider moving close to the school.
Conveniently, it's located off South Congress avenue just south of downtown. The neighborhood speaks for itself if you search around on Google to learn more about it. I can only speak from what I've seen, not personally experienced, but I would imagine that this is the part of town where people don't look at you funny when you are using sign language at a bar/bus/grocery store (which has several deaf check-out clercks).
Housing prices are rediculous here; however, if you are in the market to buy you should feel assured that what you pay for will retain its value. this is one of the few cities that could avoid the major downturn american real estate will experience over the next few years. our economy is so strong here (tech) that some analysts say that our prices will remain flat when others plummit.
Check it:
http://www.news8austin.com/content/n...6987&SecID=196