Not too very long ago (four days), we reported on a study by ApartmentList’s “Rentonomics” blog that found Austin residents’ incomes were keeping up with its rent. But that doesn’t mean the rent isn’t going up. In fact, it’s increasing at a higher rate than the rents in the rest of Texas overall.
Friday, the Rentonomics blog reported that not only have Austin rents increased 3.6% in the past year, compared to a statewide average growth of 2.7%.; our rents are also Austin rents are growing nearly 1.5 times faster than the national average.
Austin had a median one-bedroom rent of $1,200 and of $1,500 for a two-bedroom for the month of June.
Rentomics dug in even further, offering a neighborhood breakdown of current rent prices, from highest to lowest, and how much they had changed since June 2015.
As the charts and graphs show, Downtown, Zilker, and Bouldin Creek neighborhoods retained their top spots for highest rents.
However, in terms of rent growth percentages since last year, North Loop, and to a lesser extent Hancock and West University, are hot on the perennial triumvirate’s collective heels.
You can learn more about the Austin report, as well as national rents, at the ApartmentList link below.
• Rent Report: Austin [Rentonomics]