AUSTIN, Texas — Austin's hot housing market and skyrocketing rent prices continue to pose challenges for people trying to find a place to live. But if you're on a housing hunt, new data from Rent.com could help.
The website, which aims to connect first-time renters with all different types of rental properties, keeps track of rental market trends in Austin.
Recent data shows that the average rent in Austin has gone up 19% to 50%, depending on apartment size. According to Rent.com's trend report, the average rent for an apartment in Austin is between $1,249 (for a studio) and $1,964 (for a 3-bedroom) in 2022. The average rents for 1-bedroom and 2-bedroom apartments are $1,536 and $1,814, respectively.
That information is helpful, but if you're looking for an apartment, you might be looking for information that's a little more specific, including which neighborhoods are the most affordable or the most popular. Rent.com tracks recent data for that criteria too.
According to Rent.com, the most affordable neighborhoods in Austin are:
- North Lamar – $850 average rent for 1-bedroom apartment
- Crestview – $950 average rent for 1-bedroom apartment
- North Loop – $1,000 average rent for 1-bedroom apartment
Rent.com's trend report also lists Northeast Austin ($1,026 for a 1-bedroom) and Windsor Hills ($1,040 for a 1-bedroom) as affordable neighborhoods. A recent Rent.com blog post titled "The Cheapest Neighborhoods in Austin for Renters in 2022" listed Parker Lane, Copperfield, North University, Southeast Austin, West University, Sweetbriar, Franklin Park, Georgian Acres and MLK-183 as other affordable neighborhoods.
West University (average $1,276 for a 1-bedroom) and North University ($1,140), as well as Downtown ($3,328), also make Rent.com's list of most popular Austin neighborhoods. Other popular neighborhoods include Central East Austin ($1,500) and Old Enfield ($1,536), according to the report.
If you've got money to spare, these are the Austin neighborhoods Rent.com's report lists as the most expensive:
- Warehouse District – $4,106 average rent for 1-bedroom apartment
- Seaholm District – $3,491 average rent for 1-bedroom apartment
- Downtown – $3,328 average rent for 1-bedroom apartment
Bouldin Creek ($3,040 for a 1-bedroom) and Triangle State ($2,585 for a 1-bedroom) are also considered "premium neighborhoods," according to Rent.com's data.
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