Chalk it up to the vagaries of the market or methodologies: After we recently reported on a study that found Austin rents had decreased in March, a different study informs us that Austin rents grew slightly—by 0.2%—in the past month and by 0.7% in the past year.
The latter study was just published in ApartmentList’s “Rentomics” blog, which did add the somewhat sunnier news that Austin’s rents are still lower than the national median—though not always lower than the state’s.
The report found that two-bedroom apartments run a median rent of $1,460 per month, while one-bedrooms cost $1,150.
“Rentonomics” also found that East Austin has the highest rent prices in the city, with two-bedroom apartments in the area renting for $2,110/month and one-bedrooms going for $1,510.
West Austin (we’re not sure how the study defines this area) is the second most expensive neighborhood for renters, with two-bedrooms there going for $1,940, and one-bedrooms running $1,340. West Austin rent prices have grown by 2.5% in the past year.
West University is Austin’s third most expensive neighborhood for renters. Median rents in West University are at $1,730 for two-bedrooms and $980 for one-bedrooms. Rent prices increased by 0.2% in the last month.
Garrison Park shows the fastest-growing rents in Austin, according to the study, at a 9.1% increase over last year. One- and two-bedroom apartments there cost $980 and $1,200 per month, respectively.