Tuesday, July 25, 2017

Austin Rents Holding Steady

Austin rent prices aren’t climbing as quickly as they once were, Culturemap Austin reports.

In January through July, rent across the country remained at essentially the same level, although there was some fluctuation along the way.  Nationally, median rent for a one bedroom was at $1,016 in both January and July.

Texas has an average rent for  a one-bedroom of $871 for the first 6 months of the year, which is substantially less than the average for the nation.  There weren’t any cities in Texas that landed on the list of the highest rent in the country, but Houston saw some of the biggest rent growth, with rent increasing 3.8 percent monthly on average.  Currently $1,053 is the average rent for a one bedroom there.  

On the low end, both Lubbock and El Paso saw average rent drops of 2.6 percent and 2.3 percent respectively, some of the biggest drops of the cities studied.

Austin’s rental market seemed to be more steady during the first part of the year, even though Austin’s rent is still high compared to other cities in Texas.  The median rent for a one-bedroom is $1,124 and the median rent for a two-bedroom is $1,407.

Looking to take advantage of Austin’s lower rents?  A Plus Apartments can help!  Give us a call at 512-231-1400 to find your dream apartment quickly and easily!  

Monday, July 17, 2017

The Most Expensive Zip Codes in Austin

Austin is home to the most expensive zip code in the entire state, the Rent Cafe Blog reports.

78701, which is the Austin zip code that includes downtown, has an average rent of $2,475 per month.  That’s over $1,000 more than the national average, which is $1,316. Rent in all 50 of the most expensive zip codes in Texas exceeded that national average.

78703, which is just west of downtown and includes Tarrytown, was the 2nd most expensive zip code in the state with an average rent of $2,393.  78705 took the 4th spot at $2,102.  This zip code includes the area around the University of Texas, including West Campus.   

The next Austin zip code to make an appearance on the list is 78702, which nabbed the 12th spot with an average rent of $1,711.  This zip code includes East Austin north of Lady Bird Lake to Martin Luther King Blvd, and east to Airport Boulvard.

78704, the area West of IH-35, north of 290, east of the Barton Creek Greenbelt and south of Lady Bird Lake, had an average rent of $1,513, making it number 27 on the list.

78732, which includes Steiner Ranch, had an average rent of $1,486, 78746, which has West Lake Hills and Rollingwood, was at the 32nd spot with average rent going for $1,477 and 78751 was 33rd with $1,461 as the average rent.  This zip code includes the North Loop and Hyde Park neighborhoods and is located south of Koenig, west of IH-35, north of 38th Street, and east of Guadalupe.

Austin had two more zip codes in the 30’s range on the list: 78735 was at 35 and 78738 was at 38 with average rent of $1,448 and $1,416 respectively.  78735 is the area around Barton Creek and Southwest Parkway and 78738 includes Bee Cave and the area just south of Lakeway, the Hills.  It was the lowest charter on the list for Austin zip codes.  In all, Austin had 9 zip codes that made the list.

Looking to find an apartment in Austin?  Whether it’s in one of the most expensive or the cheapest zip codes, A Plus Apartments can help find that perfect home that fits your budget!  Give us a call today at 512-231-1400!