Apartments for Rent in Austin, TX - Home Rentals | realtor.com® (2025)

FAQs

Are rents dropping in Austin? ›

Austin rent prices have been on the decline since last year, according to a June 11 report by Realtor.com. In the study, analysts evaluated property rent prices for studio, one and two-bedroom apartments from May 2023 to May 2024 across the 50 largest metropolitan areas in the nation.

When you rent an apartment in Austin, you can expect to pay about $1,252 per month for a studio, $1,437 for a one-bedroom apartment, and around $1,843 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,372 or more. $1,252/mo.

Is it hard to find an apartment in Austin? While it's easy to find an apartment, the real challenge lies in finding options that fit within your budget and offer the amenities you're looking for. For that reason, try to begin your search 60 to 90 days before your current lease ends.

Average Apartment Cost in Austin, TX

The average rent for apartments in Austin, TX, is between $1,342 and $1,792 in 2024. For a studio apartment in Austin, TX, the average rent is $1,342.

The trend in Texas is different from the national level where rent prices are barely coming down, partly due to how expensive buying a home has become. "Rents came up to this high level and pretty much hung out around there as the labor market has continued to be relatively strong," Jones told Newsweek.

The analysis revealed that all racial and ethnic groups in Austin earning 80% or less of the area's median family income faced a shortage of affordable homes for sale in the first half of 2023.

As for the capital city of Austin, it ranked as the 65th most expensive city of the 99 analyzed. Individuals need roughly $100,000 to live comfortably on their own, and families of four need about $224,000.

Austin is a standout choice for those seeking low-cost living. It offers significantly lower expenses across the board—housing, utilities, groceries, and transportation—all of which cost less than in California.

The average electric bill in Austin, Texas, is $162.17 per month, and the monthly electric rate is 9.51 cents/kWh. You can also calculate the monthly bill by multiplying the monthly consumption and average electric rate.

Con: Summers are scorching hot with high humidity

Austin is known for its hot and humid summers.

What is the best month to rent an apartment? ›

Generally, the best time to rent an apartment for a lower price is from November through March, when demand is lower. However, apartment hunting from May to September could be beneficial if you want a wider range of options since there tend to be more units available during these months.

With a strong sense of community, a thriving job market, and plenty of outdoor activities, Austin is a great place to start a family or launch a career. The city's vibrant food scene, creative community, and reputation as the Live Music Capital of the World offer endless opportunities for entertainment and inspiration.

The median rent in Austin fell by 0.2% over the course of July, and has now decreased by a total of 7.5% over the past 12 months. Austin's rent growth over the past year has has fallen behind both the state (-2.9%) and national averages (-0.8%).

If their tips and hourly wage do not add to the current minimum wage of $15.00 per hour, their employer must make up the difference. The minimum wage law in Austin also covers domestic workers, including housekeepers, nannies, and caregivers.

In May 2024, according to data compiled by ResiClub using the Zillow Home Value Index, home prices in Austin were down 18.7 percent compared to the May 2022 peak.

Luckily I think they knew that the rent was too high now that rents have dropped in Austin so they didn't put up a fight at all. Southwest Austin not too far from Barton springs. i was paying $1650 for a 1 bedroom in far south austin in 2022. that same apartment is available for like $1300 now.

Conclusion. In conclusion, Austin shines as a top pick for real estate investment. Its booming economy and tech growth fuel a high demand for homes. With job increases and more people moving in, properties have great value.