The median one-bedroom apartment rent in Austin has risen in the past month, according a report from real estate listings and research site Zumper, jumping to $1,250 per month for a one-bedroom apartment in October—a 3.3 percent rise from the previous month and a 1.6 percent increase from the same time last year.
Two-bedroom apartment rent median was reported to have increased 2.6% since last month, to $1,570, or 4.7 percent more than last year.
Most expensive Austin-area cities
Zumper analyzed active listings across seven cities in the Austin metro area for its report. It found that the Austin (surprise!) was the most expensive city for one-bedrooms. Cedar Park, with a 2.7 percent rent growth, ranked second, and Georgetown, with an average one-bedroom rent of $1,080, was third.
Least expensive Austin-area cities
Zumper’s study ranked San Marcos as the most affordable city in the area, with one-bedrooms priced at $900 per month, while Round Rock, with an average one-bedroom rent of $1,010, was second-lowest. Leander’s median rent for one-bedrooms took a 1.9 per cent dive to $1,040, making it the third least expensive city in the metro.
Growth rate for Austin metro rent
According to the study, Cedar Park saw the fastest growing rent, up 2.7 percent since this time last year. Austin rent climb 1.6 percent, making it the second fastest-growing city in the metro area, and Pflugerville ranked third, with rent growing 1 percent year over year.
Compared to the previous month, Austin had the largest rental growth rate, up 3.3 percent. Cedar Park rent was up 2.7% last month, and San Marcos ranked third, with rent up 1.1 percent.
Median rent for a one-bedroom in Texas, according to the report, was $964 last month.