Average Rent in Austin, TX: $1,095/mo

About Rent Prices in Austin, TX

Austin has transformed from a quirky college town to a major tech hub, causing rapid rent increases over the past decade. Despite recent growth, Austin maintains its unique character with live music, outdoor recreation, and no state income tax attracting young professionals and remote workers.

The fair market rent (FMR) in Austin, TX represents the 40th percentile of gross rents for standard quality rental housing. This data is published annually by the U.S. Department of Housing and Urban Development (HUD) and is used for various housing programs including Section 8 vouchers. As of 2025, the median rent for a 2-bedroom apartment is $1,095 per month.

Rent by Apartment Size in Austin, TX

The Austin Rental Market

Austin's rental market has seen explosive growth but is stabilizing after pandemic-era peaks. New apartment construction has increased supply, particularly downtown and in the Domain area. Texas has no rent control, and landlords typically require proof of income at 2.5-3x monthly rent. Competition remains high for well-located units near downtown or the University of Texas.

Neighborhoods in Austin

Downtown, South Congress, and the Domain command premium rents with walkability and amenities. East Austin has gentrified rapidly with corresponding rent increases. Zilker and Barton Hills offer access to outdoor recreation at moderate-high prices. More affordable options exist in North Austin, Pflugerville, and Round Rock. South Austin maintains some character despite rising costs.

Renter's Guide to Austin

Traffic congestion has worsened significantly - consider living near work or transit routes. Air conditioning is essential given summer heat exceeding 100°F. Many newer complexes include resort-style amenities. Pet-friendly housing is widely available. Check flood zone status near creeks. Start searching 4-6 weeks before your move date.

Cost of Living Considerations

Austin benefits from no state income tax, boosting take-home pay versus California. Summer electricity bills can be substantial due to AC needs. Car ownership is essential as public transit is limited despite recent improvements. Food truck culture and local restaurants offer affordable dining. Outdoor activities at Zilker Park and Barton Springs are free or low-cost.

Rental Market Trends in Austin

Understanding recent trends helps renters time their apartment search effectively. The Austin, TXrental market has been influenced by population migration patterns, remote work adoption, and local economic conditions. Seasonal variations typically show higher demand and prices in summer months when families prefer to move, while winter often brings more negotiating power for renters.

New apartment construction in Austin affects supply and pricing dynamics. Areas experiencing significant development may see rent stabilization or decreases as more units come to market, while established neighborhoods with limited new construction tend to see steady price appreciation. Monitoring vacancy rates provides insight into market tightness - rates below 5% typically indicate a competitive market favoring landlords.

What Affects Rent Prices in Austin?

• Location: Proximity to downtown, employment centers, and desirable neighborhoods significantly impacts rent. In Austin, location can create 30-50% price variations.
• Building Quality: Newer buildings with modern amenities command premium rents. Expect to pay 15-25% more for properties built within the last 5 years.
• Transportation: Access to public transit or major highways affects desirability and rent prices. Properties within walking distance of transit often command 10-20% premiums.
• Local Economy: Job market strength and major employer presence drive rental demand. Austin's primary employment sectors directly influence neighborhood pricing.
• Schools: Family-oriented renters pay premiums for quality school districts. Top-rated school zones can add 20-30% to comparable properties.
• Safety: Crime rates and neighborhood safety influence pricing significantly. Low-crime neighborhoods typically command meaningful premiums.
• Amenities: In-unit laundry, parking, pools, fitness centers, and other building amenities can add $100-300+ monthly to base rent.

Tips for Renting in Austin