Austin rents are some of highest in nation

Continuing a trend that started in January, Austin rents have continued to rise slowly this year, according to various rent reports. One site that crunches rental numbers puts the rate of local rent increases on the low end compared to other large cities in the United States, but reports that Austin rent amounts are some of the highest in the nation for similar cities. That site, Apartments.com, reports that rates were flat month-over-month nationally but rose 2.6 percent year-over-year.

How do local numbers compare among rental-data sources? While each differs and has its own sets of limitations, they can give us a sense of what’s happening across the city.

Abodo

Abodo, which bases its numbers on analysis of its listings, puts Austin’s one-bedroom rent average at $1,153 (0.02 percent more than in August) and two-bedrooms at $1,461 (up 0.8 percent) for September.

Apartment List

Apartment List’s numbers track by city limits, and unlike a lot of listing site data, its numbers are weighted with census data to compensate for a skew toward luxury listings. It still attempts to track what a new renter or apartment-hunter could expect to pay for their pad, though, as opposed to what the typical renter is currently paying.

AL’s September data shows Austin rents increasing 0.4 percent over August and 0.8 percent over this time last year. It pegs current median rents in Austin at $1,150 for a one-bedroom apartment and $1,420 for a two-bedroom; this is the seventh month in a row that the city has seen rent increases after a decline in January. Austin’s year-over-year rent growth lags the state average of 1.8 percent, as well as the national average of 1.0 percent, according to the site’s research.

Austin rents have increased 0.4% over the past month, and are up marginally by 0.8% in comparison to the same time last year. Currently, median rents in Austin stand at $1,150 for a one-bedroom apartment and $1,420 for a two-bedroom. This is the seventh straight month that the city has seen rent increases after a decline in January. Austin’s year-over-year rent growth lags the state average of 1.8%, as well as the national average of 1.0%.

Zumper

Zumper, which can skew toward luxury listings and uses its listings only when calculating its stats, creates a national rent index for 100 cities every month. It reported the median September rent for one-bedroom units in Austin as $1,200, up 0.8 percent since August and 9.1 percent since this time last year. The median price for two-bedrooms this month is $1,490, a 0.7 percent increase over last month and a 6.4% year-over-year.

Looking at national numbers, the site finds $1,209 to be the rent for one-bedrooms in its study ational one and two-bedroom at a $1,447 median—a 0.1 percent increase month-over-month in both cases. On a year-over-year basis, it reports increases in one- and two-bedroom of 2.2% and 3.2%, respectively.