Austin had the Highest 2018 Rent Jump in Texas
According to the year end report for RentCafe — an apartment listings site — Austin’s apartment rental pricing increased by 4.4 percent over the past year.
Fort Worth came in second with the percent increase 0.6 percentage points lower than Austin’s rent jump. Austin’s average apartment rent was $1,361/month at the time of the report — higher than Dallas, San Antonio, and other big Texas cities.
“The city also made the top 10 on site’s national list of “renter mega-hubs,” ... in that set of cities for highest year-over-year increase. Other cities on that list are, naturally, places such as New York City, Los Angeles, and Seattle, Washington.”
The report credits Austin’s rise in rent to “favorable economic factors ... and rising interest rates.”Posted on Tuesday, March 12, 2019