Austin city, Texas Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Austin city, Texas rental market.
Highlights
An apartment for rent in Austin city, Texas typically goes for $1,439 per month, while a single-family home for rent in Austin city, Texas has a monthly cost of around $2,339. Renter-occupied units make up 55% of the local housing market, while the rental vacancy rate in Austin city, Texas is at 6.6.
Austin city, Texas
Average Apartment Rent
$1,439
Y-o-Y Change in Apartment Rent
5.11%
Average Single Family Rent
$2,339
Compared to a year ago, Austin city, Texas apartments have recorded a 5.11% rent increase.
Austin city, Texas |Median apartment rent trend
Austin city, Texas| Average apartment rent by city
Austin city, Texas | Apartment rent ranges
At 52.93%, apartments priced $1,000 - $1,500 represent the bulk of Austin city, Texas rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.09%.
Austin city, Texas | Housing tenure
Renters take up 55% of Austin city, Texas real estate, occupying a total of 202,837 units, while homeowners live in 167,206 properties.
Median number of rooms of renter-occupied housing units
3.6
Renter Median household income
$49,474
Average household size of renter occupied-housing units
2.29
Rental vacancy rate
6.6%
Austin city, Texas | Renter-occupied housing units by no. of bedrooms
There are 76,745 rentals in Austin city, Texas with 1 bed making up the highest share of the market, at 38%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 7,891 units. Overall, the median number of rooms in Austin city, Texas homes for rent is 3.6.
Austin city, Texas |Renter-occupied units by age of householder
Most condos for rent in Austin city, Texas are occupied by residents in the 25 - 34 years age group (40%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Austin city, Texas | Renter-occupied housing units by family type
Austin city, Texas | Renter-occupied housing units by the presence of own children
A total of 78,105 apartments for rent in Austin city, Texas, or 39% of all rentals are family households. Additionally, 23% of rental homes include children under the age of 18 – that’s 45,774 units. All in all, the median size of a renter-occupied household in Austin city, Texas is 2.29.
Austin city, Texas | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 45% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Austin city, Texas.
Austin city, Texas | Renter-occupied units by year structure built
The highest share of Austin city, Texas apartment rentals, namely 22% or 44,512 units, were built 1980 - 1989, followed by those built 1990 - 1999 (18%, 36,059 units), and the ones built 2000 - 2009 (17%, 35,457 units).
Austin city, Texas | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Austin city, Texas renters (47%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Austin city, Texas condos for rent is 2014.
Austin city, Texas | Renter-occupied housing units by vehicles available
When it comes to transportation options, 53% of Austin city, Texas renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 9% have no vehicle available.
Austin city, Texas | Means of transportation to work of householders living in renter-occupied housing units
Austin city, Texas |Geographical mobility in the past year for householders living in renter-occupies housing units
Austin city, Texas | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Austin city, Texas apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
Average single family rent calculated from point2homes.com data.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates
