Austin apartment rents slipping speedier than rest of Texas, claims report

In spite of the slide, they are continue to amongst the highest rents in the Lone Star Point out.

(CultureMap) Renters, choose take note: Regardless of the pandemic-induced inhabitants increase, Austin apartment charges basically fell last yr.

A report unveiled December 28 by Condominium Checklist  shows median rents in Austin took a yr-about-year slide of 5.4%, accounting for the most significant tumble among the major Texas cities tracked by Apartment Record. Lease was $1,179 for a 1-bedroom condominium and $1,440 for a two-bedroom apartment as of December 2020.

Despite the slide, they are however amongst the optimum rents in the Lone Star Point out. Only Plano, in which a median two-bed room lease averages $1,528, statements larger apartment costs.

Nationwide, rents trended downward previous year — about 1.5% — but condominium rents in “comparable towns [to Austin] have found charges enhance, in some scenarios significantly,” suggests the report. Still, Austin is still less reasonably priced than most massive cities, including Dallas, Houston, and San Antonio.

In Texas in general, hire declined 2.1% previous calendar year. A snapshot all over the condition displays:

  • Houston posted a lower of 3.5% final yr. The median lease for a just one-bed room condominium in Houston stood at $900 a month for a two-bed room apartment, it was $1,070. Nonetheless, rents have long gone up in five of the 11 largest towns in the Houston metro area.
  • In San Antonio, median rents slipped 1% calendar year about year, with a just one-bed room condominium heading for $893 and a two-bed room apartment for $1,083.
  • Dallas — in which lease fell 2.6% past yr — stays much more cost-effective than most other huge metropolitan areas throughout the place, the report notes. A one-bedroom apartment in Dallas runs $980, and two-bed room, $1,170.
  • Rents in in the preferred seashore vacation spot Galveston dropped 3.5% about a year’s time. Median rent there is $890 for a a person-bed room apartment and $1,130 for a two-bed room condominium, in accordance to Apartment Record.

This write-up initially appeared in CultureMap.


Guy putting on ‘Camp Auschwitz’ hoodie at US Capitol riot, some others arrested in Virginia

Sen. Ted Cruz’s communications director resigns subsequent Capitol riot

Justin Timberlake announces new song he’ll conduct for Biden inauguration