AUSTIN, Texas — A new report released by HousingWorks Austin shows the average rent price in Austin in 2022 was greater than $1,700 per month.
HousingWorks Austin is a nonprofit that aims to increase the supply of affordable housing in the city by providing research, education and advocacy. The organization broke down rent prices for all 10 districts in the city to determine the average.
District 2, located in southeast Austin, had the lowest rate, with the average rent totaling under $1,500 per month. District 10, which encompasses a sizable amount of northwest Austin, represented the median rate, sitting at just over $1,700. And District 9, which covers downtown and the University of Texas campus, had the highest rate, totaling nearly $2,200 per month.
Woody Rogers, a research manager with HousingWorks Austin, said many renters are facing a serious cost burden.
“Over one-third of the households in Austin are paying more 30% of their income towards housing alone," Rogers said.
Rogers said average rent has risen by about $400 since 2020.
The rising rent prices are part of the motivation for some organizations that are attempting to bring more affordable living arrangements to the city, including Foundations Communities.
Foundations Communities provides affordable housing if a buyer or leaser can meet certain income requirements.
Mark Leeper Westphal was among those able to qualify. He was able to get into the Cardinal Point Apartments for just over $800 per month, thanks to Foundations Communities.
"I love where I live. I love the people I have living around. I don't know how I would have been getting by without this basic, rent-controlled apartment," Westphal said.
He said he remembers the days when rent cost much less in Austin. He said he definitely noticed price increases in the city over the last few years, and he doesn't believe he'd still be living in Austin without Foundation Communities' help.
Rogers said while the City and organizations are building more affordable housing, there is still a need for even more.
"Specifically, more affordable rental housing to make sure households don’t have to move," Rogers said.
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