Rent Price Trends in the Top 30 Cities Around Austin : Looking at rent prices around Austin from 2023 to 2024 shows a mix of increases and decreases across the top 30 cities. Here’s what the latest data tells us about where and how much rent prices have changed.

In Austin, the center of all the action, rent prices haven’t changed at all; they’re holding steady at an average of $2,648. This is interesting because, in other cities around Austin, things look a bit different. For example, in Bastrop, rent went down by 2.2%, bringing the average to $1,985, and in Buda, rents dropped by 4.3% to $2,177. This tells us that not every area is experiencing the same demand or supply changes.

Looking at places where rents have gone up, Dale stands out with a significant 6.7% increase, bringing its average rent to $1,890. Elgin also saw a decent bump of 4.3%, making its average rent $1,872. These increases might be due to more people moving there or possibly new jobs and businesses popping up.

On the flip side, some areas saw larger drops. Driftwood’s rents fell by a whopping 19.8%, and Lago Vista saw a decrease of 11.9%. Despite these decreases, Driftwood still has a high average rent of $3,311, suggesting it’s still a desirable place but perhaps adjusting after a period of high growth.

Small changes are also part of the picture. Cities like Cedar Creek and Manor saw rents go up slightly by 1.9% and 1.0%, respectively. This kind of small increase might not seem like much, but it shows that these areas are holding their ground in the rental market.

This data on rent prices is a handy tool for anyone thinking about renting or investing around Austin. It gives a clear picture of where prices are heading and can help you make smarter decisions about where to live or invest based on current trends. For up to date analysis on the Multi-Year Appreciation for the Top 30 Cities in the Austin-Area.