Rent Prices in Austin, TX

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General Moving Moving Statistics

The Lone Star State has seen a boom in population in recent years.  And as residents have flowed in, rents have been on the rise in many areas of Texas.  Utilizing data released by Zillow, the average  rents of multi-family homes, single-family homes, condos, and co-ops  were examined.  Comparing data from February, 2017 (the most recent available), February, 2016, and February, 2012, analysis of the change in average rent over a one-year and five-year period was conducted.

The Texas capital has seen rents increase by more than 32.2% in the last five years.  In February, 2012, the Austin metro area had an average rent of $1,454.  This had increased to $1,900 by February, 2016.  In February of this year, the average rent residents paid was $1,925.  This was the most expensive metro area in the state in 2017, outpacing the second most expensive Dallas-Fort Worth area by more than $300.

Within the Austin area, residents of Barton Creek had the most expensive rent, averaging $5,903 in 2017.  In the five years between 2012 and 2017, Barton Creek has experienced a 36.6% increase in average rent.  This amounts to an increase of $1,581 in rent over the last five years.  Windsor Creek, Barton Hills, Allandale, and South River City were some of Austin’s other most expensive neighborhoods.

Those living in the St. John’s neighborhood experienced the cheapest rent in February, 2017.  However, residents still paid an average of $1,388 this past February.  This was a slight decrease from the year, when average rent was $1,396.  In comparing the average rent in St. John’s from 2012 to 2017, the neighborhood has experienced a 31.2% increase in rent over five years. Georgian Acres, Pleasant Valley, North Lamar, and Franklin Park were some of the least expensive neighborhoods to rent in.

Largest Increases from 2012-2017

In the five years between February, 2012 and February, 2017,every neighborhood in the Austin metro area experienced an increase in average rent.   The neighborhoods that experienced the greatest percentage increase were

Govalle (+49.4%)

University Hills (+45.5%)

Chestnut (+43.2%)

MLK 183 (+42.2%)

Pleasant Valley (+42%)

The neighborhoods that experienced the greatest increase in dollar amount included

Baron Creek (+$1,581)

Windsor Road (+$976)

RMMA (+$602)

Allandale (+$601)

Govalle (+$599)

Largest Increases from 2016-2017

In the one year period between February, 2016 and February, 2017, most neighborhoods in the Austin metro area experienced an increase in average rent.  The neighborhoods that experienced the greatest percentage increase were

Montopolis (+5.3%)

Franklin Park (+5.1%)

Johnston Terrace (+4.9%)

McKinney (+4.5%)

Govalle (+4.3%)

The neighborhoods that experienced the greatest increase in dollar amount included

Barton Creek (+$176)

Rosedale (+$93)

Bouldin (+$76)

Johnston Terrace (+$75)

Govalle (+$74)

Largest Decreases  from 2012-2017

In the five year period between February, 2012 and February, 2017, there were no neighborhoods in the Austin metro area that experienced a decrease in average rent.

Largest Decreases from 2016-2017

In the one year period between February, 2016 and February, 2017, there were 16 neighborhoods in the Austin metro area that experienced a decrease in average rent.  The neighborhoods that experienced the greatest percentage decrease were

Downtown (-5.4%)

North University (-4.5%)

Old West Austin (-4.5%)

West Oak Hill (-3.9%)

RMMA (-2.3%)

The neighborhoods that experienced the greatest decrease in dollar amount include

Downtown (-$129)

Old West Austin (-$108)

West Oak Hill (-$83)

North University (-$75)

RMMA (-$57)

 

 

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