Friday, February 27, 2015

Austin's Jump in Rental Costs Sixth Highest in Nation


The increase in rent costs for Austin from 2014 to 2015 was the sixth highest in the country, according to Zillow's Rent Index, KVUE reports.

Austin's rent jumped 7 percent to a median rent of $1,657.  Nationally, rent rose 3.3 percent to a median of $1,350.  

Zillow also found that Austin's median home price was $222,600, a 10.8 percent year-over-year increase.  The national median home value is $178,500.

By the end of 2015, Zillow thinks that the growth in rent will be more than the growth in home values.  The number one rent jump was seen in San Francisco, California.

Need help finding a new #apartment that fits your budget better?  A Plus Apartments can help with our up-to-the-minute knowledge of the latest vacancies, move-in specials, and rent rates at the best apartment communities in Austin.  Give us a call today at 512-231-1400.