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Austin rents dropped almost 7 percent in March

City remains second-highest for renters in metro area, however

Housing Report Suggests Rising Rents Could Lead To Home Market Turnaround Photo by Justin Sullivan/Getty Images

Rents in the Austin metro area (which, let us remember, covers five counties and includes such booming cities as Georgetown and San Marcos) can vary quite a bit. However, it might come as a surprise that, in March at least, the city of Austin did not rank highest on the list of apartment rental prices.

That’s according to a new report by rental site Zumper, which places Leander, just northwest of Austin, at the number-one spot for March, with median cost for a one-bedroom apartment running at $1,110/month—more than $200 higher the $887 state median.

Of course, Austin, with median one-bedroom rent at $1,080 for March—came in as the second most-expensive city in the area. That news is not exactly earth-shattering, though the fact rents in the city decreased 6.9% compared to the same period last year (two-bedroom apartment median prices decreased $7.9%, to $1,390).

That drop might not be as dramatic as it seems. According to Zumper’s Crystal Chen, the one-bedroom decrease represents around $75/month. She added that Austin rents tend to decrease slightly in February and March and pick up again toward summer.

As far as other Austin metro cities go, Brushy Creek ranked third-highest for March rents, with median one-bedroom units costing $1,030/month.

The least expensive in the study were: San Marcos ($860/month median one-bedroom apartment), Wells Branch ($880/month), and Kyle ($900/month).

You can dig into the full report here.