Dripping Springs, 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 Dripping Springs, Texas rental market.
Dripping Springs, Texas
Average Apartment Rent
$1,692
Y-o-Y Change in Average
Apartment Rent
1.9%
As of July 2024
Compared to a year ago, Dripping Springs, Texas apartments have recorded a 1.9% rent increase.
Dripping Springs, Texas Average apartment rent trend
Dripping Springs, Texas Average Apartment Rent
Dripping Springs, Texas Apartment rent ranges
At 70%, apartments priced $1,500 - $2,000 represent the bulk of Dripping Springs, Texas rentals, while condos priced Over $2,000 hold the lowest share of the market – 6.25%.
Dripping Springs, Texas Housing tenure**
Renters take up 45% of Dripping Springs, Texas real estate, occupying a total of 912 units, while homeowners live in 1,132 properties.
Median number of rooms of renter-occupied housing units**
3.5
Renter median household income**
$86,019
Average household size of renter-occupied housing units**
2.33
Rental vacancy rate**
0.6%
Dripping Springs, Texas Renter-occupied housing units by no. of bedrooms**
There are 386 rentals in Dripping Springs, Texas with 2 beds making up the highest share of the market, at 42%. Units with No bedrooms, on the other hand, hold the lowest percentage (4%), amounting to 33 units. Overall, the median number of rooms in Dripping Springs, Texas homes for rent is 3.5.
Dripping Springs, Texas Renter-occupied units by age of householder**
Most condos for rent in Dripping Springs, Texas are occupied by residents in the 45 - 54 years age group (28%), followed by those in the 35 - 44 years age group (28%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 2%.
Dripping Springs, Texas Renter-occupied housing units by family type**
Dripping Springs, Texas Renter-occupied housing units by the presence of own children**
A total of 597 apartments for rent in Dripping Springs, Texas, or 65% of all rentals are family households. Additionally, 48% of rental homes include children under the age of 18 – that’s 441 units. All in all, the median size of a renter-occupied household in Dripping Springs, Texas is 2.33.
Dripping Springs, Texas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 59% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Dripping Springs, Texas.
Dripping Springs, Texas Renter-occupied units by year structure built**
The highest share of Dripping Springs, Texas apartment rentals, namely 59% or 539 units, were Built 2010 - 2019, followed by those Built 2000 - 2009 (28%, 259 units), and the ones Built 1980 - 1989 (6%, 59 units).
Dripping Springs, Texas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Dripping Springs, Texas renters (45%) moved in 2010 to 2017, while only 22% of them moved in 2021 or later. Overall, the median year renters have occupied their Dripping Springs, Texas condos for rent is 2018.
Dripping Springs, Texas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Dripping Springs, Texas renters have 2 vehicles available per household, 36% of them have 1 vehicle available, and 12% have No vehicle available.
Dripping Springs, Texas Means of transportation to work of householders living in renter-occupied housing units**
Dripping Springs, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**
Dripping Springs, 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 Dripping Springs, 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, 2022 American Community Survey 5-Year Estimates
