Austin, 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, Texas rental market.
Highlights
An apartment for rent in Austin, Texas typically goes for $1,825 per month, while a single-family home for rent in Austin, Texas has a monthly cost of around $3,446. Renter-occupied units make up 54% of the local housing market, while the rental vacancy rate in Austin, Texas is at 5.8.
Austin, Texas
Average Apartment Rent in October 2022
$1,825
Y-o-Y Change in Average
Apartment Rent
7.9%
Average Single-Family Rent in October 2022
$3,446
Compared to a year ago, Austin, Texas apartments have recorded a 7.9% rent increase.
Austin, Texas |Average apartment rent trend
Austin, Texas| Average apartment rent
Austin, Texas | Apartment rent ranges
At 43.31%, apartments priced $1,500 - $2,000 represent the bulk of Austin, Texas rentals, while condos priced $700 - $1000 hold the lowest share of the market – 1.43%.
Austin, Texas | Housing tenure**
Renters take up 54% of Austin, Texas real estate, occupying a total of 215,383 units, while homeowners live in 179,897 properties.
Median number of rooms of renter-occupied housing units**
3.5
Renter median household income**
$55,640
Average household size of renter-occupied housing units**
2.2
Rental vacancy rate**
5.8%
Austin, Texas | Renter-occupied housing units by no. of bedrooms**
There are 80,407 rentals in Austin, Texas with 1 bed making up the highest share of the market, at 37%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 8,340 units. Overall, the median number of rooms in Austin, Texas homes for rent is 3.5.
Austin, Texas |Renter-occupied units by age of householder**
Most condos for rent in Austin, Texas are occupied by residents in the 25 - 34 years age group (41%), followed by those in the 35 - 44 years age group (19%). 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, Texas | Renter-occupied housing units by family type**
Austin, Texas | Renter-occupied housing units by the presence of own children**
A total of 83,014 apartments for rent in Austin, Texas, or 39% of all rentals are family households. Additionally, 21% of rental homes include children under the age of 18 – that’s 45,884 units. All in all, the median size of a renter-occupied household in Austin, Texas is 2.2.
Austin, Texas | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 50% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Austin, Texas.
Austin, Texas | Renter-occupied units by year structure built**
The highest share of Austin, Texas apartment rentals, namely 20% or 42,317 units, were Built 1980 - 1989, followed by those Built 1990 - 1999 (17%, 37,231 units), and the ones Built 2000 - 2009 (16%, 34,852 units).
Austin, Texas | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most Austin, Texas renters (56%) moved in 2015 to 2016, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Austin, Texas condos for rent is 2016.
Austin, Texas | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Austin, Texas renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 10% have No vehicle available.
Austin, Texas | Means of transportation to work of householders living in renter-occupied housing units**
Austin, Texas |Geographical mobility in the past year for householders living in renter-occupied housing units**
Austin, 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, 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.
**Data sourced from U.S. Census Bureau; American Community Survey, 2020 American Community Survey 5-Year Estimates
