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.