AUSTIN, Texas — At 19.6%, Austin is among the U.S. cities that have seen an increase year-over-year in the country, according to June housing data from Realtor.com.
Miami took the top spot with a 37.4% increase, and Orlando took second with a 23.9% increase. Meanwhile, other cities that ranked high include San Diego with a 19.1% increase, Providence at 23.8%, Boston at 23.6% and New York at 21.1%.
Despite rising rent, Realtor.com said most metro areas offer rent that costs less than purchasing a starter home. Austin is one of those areas, with a median rent of $1,864 and monthly buy cost of $3,685, making for a difference of $1,822.
The difference between rent and monthly buy cost has grown across the country's 50 largest metros in the past year, Realtor.com reported.
Realtor.com reported that the Austin-Round Rock metro area has a median studio rent of $1,534, median one-bedroom rent of $1,720 and median two-bedroom rent of $2,050.
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