Are you looking to rent or looking to buy? If you are looking to rent there usually rental options available out in the country. Red Rock, Bastrop, Cedar Creek, and Hays County typically will have reasonably priced rental homes available with large lots, or even acreage.
If you would like more information about rentals in this area, please contact me. I work with a lot of renters and have access to all of the homes available for rent in the Austin MLS.
http://www.trulia.com (Rentals Section)
http://www.zillow.com (Rentals Section)
http://www.realtor.com (Rentals Section)
Between all of those, you will get a very clear picture if you can find what you are looking for. Good luck!