Austin rents and rental comps

Name: Austin, TX rental market data
Creator: PropMetrics

The median asking rent across 20 Austin zip codes is $1,760/month, down 11.6% from a year ago.

The 2022 peaks are gone. New construction has handed pricing power back to renters, and pricing against memory instead of comps is the fastest way to sit empty.

Median Asking Rent

$1,760

Rent Change (YoY)

-11.6%

Avg Days on Market

Active Rental Listings

7,310

Median List Price

$562,500

Median Asking Rent Over Time

Average across 20 zip codes

12 months-8.7%

Median Asking Rent by ZIP Code

Rental Listings by ZIP Code

ZIP	Median Rent	YoY Growth	$/Sqft	Avg DOM	Listings
78701	$2,900/mo	+3.6%	$3.38	76	302
78749	$2,500/mo	-7.4%	$1.61	46	97
78702	$2,400/mo	-9.3%	$2.42	70	326
78703	$2,300/mo	-12.3%	$2.60	49	195
78704	$2,044/mo	-16.2%	$2.25	77	656
78750	$1,999/mo	-4.8%	$1.41	52	141
78727	$1,995/mo	+2.3%	$1.51	47	194
78744	$1,995/mo	-0.3%	$1.42	59	331
78723	$1,880/mo	-24.0%	$1.80	51	302
78748	$1,850/mo	-9.5%	$1.44	46	402
78735	$1,800/mo	-26.6%	$1.76	78	55
78757	$1,750/mo	+4.5%	$1.97	49	252
78729	$1,700/mo	-14.8%	$1.33	53	230
78745	$1,699/mo	-10.3%	$1.69	56	606
78731	$1,500/mo	-22.3%	$1.58	53	184
78705	$1,495/mo	-2.9%	$2.23	92	1,408
78759	$1,444/mo	-22.2%	$1.50	61	286
78758	$1,425/mo	-15.9%	$1.59	64	441
78753	$1,380/mo	-18.5%	$1.46	65	267
78741	$1,234/mo	-24.6%	$1.63	44	635

Comps for any address in Austin

Type the address, get the comps. No setup.

Median Asking Rent by Bedroom

Unit Size	Median Rent	$/Sqft
Studio	$1,133/mo	$2.18/sqft
1 Bedroom	$1,117/mo	$1.73/sqft
2 Bedroom	$1,550/mo	$1.56/sqft
3 Bedroom	$2,496/mo	$1.64/sqft
4 Bedroom	$3,000/mo	$1.45/sqft

Aggregated median across all Austin zip codes with available data.

For-Sale Listings by ZIP Code

ZIP	Median List Price	YoY Change	$/Sqft
78703	$1,395,000	-17.7%	$647.64
78731	$1,150,000	-4.2%	$425.91
78735	$839,000	-15.7%	$377.07
78704	$835,000	-7.1%	$549.71
78701	$765,000	+5.1%	$785.11
78702	$696,000	-0.4%	$500.00
78759	$660,000	+5.6%	$325.62
78757	$650,000	0.0%	$406.27
78750	$585,000	+4.5%	$291.79
78749	$575,000	-3.4%	$298.58
78723	$550,000	-6.8%	$355.92
78729	$485,000	+1.1%	$232.69
78745	$467,000	-6.4%	$329.06
78727	$459,000	-8.0%	$262.72
78744	$425,000	+9.0%	$223.13
78748	$420,000	-6.7%	$237.86
78758	$400,000	-5.9%	$271.78
78753	$370,000	-2.6%	$242.99
78741	$349,000	-12.8%	$269.62
78705	$324,900	-4.2%	$399.92

HUD Fair Market Rents

Unit Size	Fair Market Rent	Median Asking Rent	Difference
Studio	$2,210/mo	$1,133/mo	-49%
1 Bedroom	$2,350/mo	$1,117/mo	-52%
2 Bedroom	$2,780/mo	$1,550/mo	-44%
3 Bedroom	$3,520/mo	$2,496/mo	-29%
4 Bedroom	$4,140/mo	$3,000/mo	-28%

HUD publishes Fair Market Rents once a year for the Austin metro area. Local housing authorities use them to set Section 8 voucher payment standards, usually 90% to 110% of the FMR.

About the Austin rental market

The median asking rent across Austin, TX sits at $1,760/month, pulled from active rental listings in 20 zip codes. That's down 11.6% from a year ago.

Rents aren't uniform across the city. ZIP 78701 tops the list at $2,900/month. ZIP 78741 comes in lowest at $1,234/month. That's a 135% spread between the top and bottom zip codes, which is wide. City-wide averages won't tell you much about a specific property here.

A 2-bedroom rents for $1,550/month at the median. 1-bedrooms run about $1,117. 3-bedrooms come in around $2,496.

Listings take longer here. The average is 59 days on market, which gives renters more room to negotiate and means landlords should price carefully.

Rent-to-price math is tight in Austin. The gross figure sits at about 3.8% ($1,760/month against $562,500 median price). Most investors here are betting on appreciation, not monthly cash flow.

HUD's Fair Market Rent for a 2-bedroom in the Austin metro is $2,780/month. Asking rents come in about 37% below the federal benchmark, which can make Section 8 properties competitive here.

Austin built a lot of apartments. Like, a lot. The pandemic-era construction boom is still delivering units and pricing dynamics have flipped. Rents came off their 2022 peaks even as people keep moving in. Good news if you're buying. Bad news if you're pricing a rental against memory. Downtown and East Austin still command premium rents. Pflugerville and Round Rock have gotten meaningfully more competitive. The rent spread between zip codes is one of the widest in Texas, which means city-wide medians won't help you price a specific property here.

These numbers are city-wide averages. If you're pricing a specific property in Austin, pull comps from the same zip code. The spread is usually bigger than people expect.