Tracking Austin’s rent growth is tricky for the layperson. Different reports often offer wildly (or moderately) different numbers, and most come from sources that have at least some skin in the game (usually apartment-listing sites and real-estate associations).
That’s not to say they’re not accurate; most of the variation has to do with their sample set, and almost all of them confirm anecdotal evidence.
That’s the case with the June rent report from rental site Apartment List. According to the report, rents in Austin have risen 3.6 percent in the past year—putting it at number five in AL’s rankings of the fastest-growing large U.S. cities in the past year.
To put that number in perspective, the study’s rent index shows national growth of just 1.5 percent over the past year. Interestingly, the cities that topped Austin for highest year-over-year rent rate are all in the Southwest United States: Henderson, Nevada, was first on the list, followed by Mesa, Arizona, Phoenix, Arizona, and Las Vegas, Nevada.
Also interesting: Since 2014, rents in Austin have grown by 17 percent, outpacing the national average of 12.7 percent.
The median rent for a two-bedroom apartment in Austin is currently $1,443, compared to the national average of $1,185.
The report concludes that “compared to most other large cities across the country, Austin is less affordable for renters.” As if we didn’t know this.