Market Update - Renting in Austin, TX

At Perch Apartment Locating, we are committed to helping you find the perfect apartment in Austin, TX, and with the market constantly evolving, it’s important to stay up to date with the latest trends. Whether you’re moving to Austin for the first time or looking to upgrade your living situation, here’s an inside look at the current rental market.

Austin continues to be one of the fastest-growing cities in the U.S. As the tech industry booms and more people are drawn to the city's vibrant culture, demand for rental properties is on the rise. Despite this, the market is slowly stabilizing after the rapid rent increases we saw in previous years. While prices are still higher than they were pre-pandemic, they have leveled out compared to the significant spikes we witnessed in 2022.

As of late 2024, the average rent for a one-bedroom apartment in Austin hovers around $1,600-$1,800, while two-bedroom apartments range from $2,000-$2,400, depending on location and amenities. Neighborhoods like Downtown, South Lamar, and East Austin remain among the most sought-after areas, offering a mix of luxury apartments and proximity to Austin’s best dining, shopping, and entertainment.

However, if you're looking for more budget-friendly options, areas like North Austin, Riverside, and East Riverside-Oltorf are seeing increased inventory at slightly lower price points while still providing easy access to major employers and transportation hubs.

If you're flexible with your move-in dates, it’s worth noting that leasing activity in Austin tends to peak in the spring and summer months. New residents, students, and professionals moving for jobs often cause a surge in demand between March and August. This means higher rents and less availability during that time.

However, as we approach the cooler months, we typically see a dip in demand, which could present better opportunities for renters looking for deals. Fall and winter are often great times to secure leases with incentives, as apartment communities aim to fill vacancies.

The influx of people moving to Austin has led to a surge in new apartment developments. From luxury high-rises downtown to modern complexes in the suburbs, more than 10,000 new units are expected to come online over the next year. This additional inventory should offer renters more choices, especially in up-and-coming areas like Mueller and The Domain.

Navigating the Austin apartment market can be overwhelming, especially with fluctuating prices and a competitive landscape. But that's where we come in. At Perch Apartment Locating, we specialize in matching you with the perfect apartment that fits your lifestyle, budget, and timeline. With our deep knowledge of the market and access to the best deals, we can streamline your search and make the entire process stress-free.

If you’re ready to explore the latest apartment options in Austin, contact Perch today, and let’s find your next home!