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Here Are the Top Rent Rates for Austin's Priciest Neighborhoods

Local rental price growth is back in a big way after a brief April respite

Some of the usual subjects show up in a study that reveals the most expensive Austin neighborhoods to rent in. According to a just-released report on Apartment List's "Rentonomics" blog, Downtown, Zilker, and Bouldin Creek were at the top of the highest-rent list in May.

In slightly more surprising news, however, some north-central areas are gaining on them. Rents in North Burnet, Brentwood, and North Loop take the next three spots in rental rate rankings, and rates in those neighborhoods are growing at a faster rate, according to the report. North Loop outpaced North Burnet in Apartment List's May report and continues to have the fastest growing rents of all Austin's neighborhoods.

More generally, Austin's brief relief from rising prices reported in May has now been obliterated, with overall rent rising 0.5% between April and May and up 4.4% over last year. A one-bedroom rental in Austin now has a median price of $1,190, while a two-bedroom costs $1,500.

Downtown rents declined 0.6% since May 2015, but it's still the most expensive rental area in town, with one-bedrooms' median price at $2,090 and two-bedrooms going for $3,000.

Meanwhile, the race is on in north central Austin: North Burnet rents have increased by 5.5% from May 2015 to May 2016, the third most of any Austin neighborhood. The neighborhood has the fourth highest rents in the city, with a two-bedroom median of $1,900.

North Loop gets the prize for highest year-over-year rent growth, up 11.2% over last year. The area has a two-bedroom median price of $1,790 and a one-bedroom median of $1,380.

June 2016 Austin Rent Report [Rentonomics]