Austin rent prices aren’t climbing as quickly as they once were, Culturemap Austin reports
. Nationally, renters across the country experienced a break from the rent increase streak during the first half of 2017.
During January through July, rent across the country remained at essentially the same level. Furthermore, the average rent for a one bedroom was at $1,016 in both January and July.
The average rent in Austin remains steady.
Texas has an average of a one-bedroom of $871 for the first 6 months of the year. This average is substantially less than the average for the nation. There weren’t any cities in Texas that landed on the list of the highest rent in the country, but Houston saw some of the biggest rent growth. Houston experienced rent increasing 3.8 percent monthly on average. Currently, $1,053 is the average rent for a one bedroom there.
On the low end, both Lubbock and El Paso saw average rent drops of 2.6 percent and 2.3 percent respectively, some of the biggest drops of the cities studied.
Austin’s rental market
seemed to be more steady during the first part of the year, even though Austin’s rent
is still high compared to other cities in Texas. The median rent for a one-bedroom is $1,124 and the median rent for a two-bedroom is $1,407.
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