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Austin rent among highest in nation but dropping

National study ranks city No. 26 in October

Austin is the 26th most expensive rental market in the country this month, according to national rental listings site Zumper, which just published its October rental report.

While that’s up there in the rankings, it might surprise Austinites to know that the city has been falling slowly but steadily in the site’s rankings for the past two months; we were at No. 24 in July and No. 25 in August.

Nationally, the median price of both one- and two-bedrooms rentals in October fell simultaneously for the first time this year. One-bedrooms dropped 0.8%, to $1,146, while two-bedroom spaces decreased 1%, to $1,358.

Locally, the price of one-bedroom units fell 0.9%, to a median of $1,120, while two-bedrooms decreased 0.7%, to $1,430.

San Francisco, New York City, and Boston all saw overall rental decreases but remained in the top three spots in Zumper’s rankings. Dallas, at No. 22, was the only Texas city in its top 25.

Zumper used its own platform for realtors and brokers as well as other real estate sites’ listings to get its data for the study. You can read the full report here.

Zumper National Rent Report: October 2016 [Zumper]