clock menu more-arrow no yes

Filed under:

Austin rent rose sharply in 2019

Growth was sixth-fastest among nation’s large cities

A daytime shote of a seven-story, modern apartment complex with stucco walls and a three-story, glass section in front. It overlooks a green park and a hiking trail bordered by new and old trees.
Apartments in Austin
Shutterstock

The stated amount by which Austin rent increased in 2019 varies from study to study, but the numbers overwhelming show a jump that was substantially higher than the nation’s average for the year.

The outlook is better on a month-over-month basis: According to a report from real estate listings and research site Zumper, rents in Austin remained decreased in December, dropping 2.4 percent, to $1,230, for a one-bedroom unit, and 1.3 percent, to $1,550, for a two-bedroom.

Zumper’s report, which covers 100 U.S. cities and uses data aggregated from its active listings, ranked Austin as the 29th most expensive city to rent in last month.

Apartment List, a similar site, also puts Austin median rent for December at median at $1,191 for a one-bedroom apartment and $1,470 for a two-bedroom—a flat growth rate compared to the site’s November numbers. (Apartment List uses median rent statistics from the U.S. Census Bureau and its own listing data for its reports.)

Austin ranked in top 10 of large U.S. cities for highest rent growth in 2019

When viewed over longer periods of time, however, the reports find the rate of Austin’s rent growth has consistently outpaced that of the country’s largest cities.

According to AL, rents in Austin are up 3.1 percent over the past year, the sixth fastest growth rate among the nation’s large cities.

Its national rent index, by comparison, grew 1.4 percent over the past year. The city’s growth rate also leads the average increase for Texas cities, which AL puts at 1.5 percent.

Zumper’s national index shows similar numbers for 2019, putting year-over-year rent up 1.8 percent, to $1,230, for one-bedrooms and up 1.7 percent, to $1,465, for two-bedrooms over the past year.

Its report finds Austin rents, by comparison, increasing 2.5 percent for one-bedrooms and 3.3 percent for two-bedrooms since last year.