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It is home to the Texas Renaissance Festival, a large tourist attraction that takes place during the fall. Dripping Springs was named for its first settler, William Wilson Crain (1804–1875), who settled there in 1854 and built his house near a natural spring. The community began as an agricultural settlement dependent on cattle ranching and farming; it became popular with tourists after being connected by rail to Austin in 1881. In recent years Dripping Springs has become one of the fastest-growing cities in Central Texas due to its proximity to Austin and other major population centers such as San Antonio; however, it still maintains much of its rural character through zoning laws that limit development outside city limits. It is also known for having some of the most expensive real estate prices within Hays County.