Average Rent in 78723, Austin, TX

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Current Versus Historical 78723, Austin, TX Rents

78723 rentals average $977 for a studio rental to $3,525 for a 4-bedroom rental. The median price of all currently available listings is $1,988, or roughly $23 per square feet.

For the apartment units and housing in September 2026, median rents have risen over the last year. Studio rentals prices have decreased by $540 (-35.60%) year-over-year from $1,517 to $977. 1-bedroom rentals prices have increased by $95 (5.39%) year-over-year from $1,759 to $1,854. 2-bedroom rentals prices have decreased by $42 (-1.89%) year-over-year from $2,222 to $2,180. 3-bedroom rentals prices have decreased by $423 (-14.51%) year-over-year from $2,918 to $2,495. 4-bedroom rentals prices have increased by $667 (23.13%) year-over-year from $2,883 to $3,550. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 23.45% this month. 1-bedroom rents have gone up by 3.76% this month. 2-bedroom rents have gone up by 3.91% this month. 3-bedroom rents have gone down by 12.28% this month. 4-bedroom rents have gone up by 5.97% this month.

Beds	Price / Sqft	Sep 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$27.19	$977	$1,517 (-35.60%)	$1,429 (-31.63%)
1 BR	$28.40	$1,854	$1,759 (5.39%)	$1,637 (13.20%)
2 BR	$21.01	$2,180	$2,222 (-1.89%)	$1,956 (11.47%)
3 BR	$21.32	$2,495	$2,918 (-14.51%)	$2,845 (-12.30%)
4+ BR	$19.80	$3,550	$2,883 (23.13%)	$2,636 (34.66%)

Historical Rents in 78723, Austin, TX

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 78723

There are a total of 19 cities nearby 78723. The average rent in 78723 is currently $1,900 per month. A total of 11 cities nearby have an average rent lower than that. Our records show that Lockhart, TX, with an average rent of $1,468, is the most affordable city nearby. In contrast, the most expensive city near 78723, Austin, TX is Lakeway, TX. Monthly rents here are on average $3,000 per month.

Let's compare 78723, Austin, TX's rent against other top cities nearby by bedroom size. One bedrooms are about 20.65% more expensive. Two bedrooms in 78723, Austin, TX are about 16.62% more expensive. Finally, rent for three bedrooms are about 28.70% more expensive. Want more information? Check out the top 10 cities out of 19 total cities near 78723, Austin, TX in the following table.

City	Studio	1 Bed	2 Bed	All
Wells Branch, TX	$1,773	$1,030	$1,400	$1,525
Jollyville, TX	N/A	$1,297	$1,473	$1,750
Austin, TX	$1,275	$1,450	$1,750	$1,870
Manor, TX	N/A	$1,804	$2,009	$1,900
Round Rock, TX	$1,130	$1,519	$1,513	$2,000
Hutto, TX	N/A	N/A	$1,475	$2,050
Cedar Park, TX	N/A	$1,149	$1,424	$2,053
Pflugerville, TX	N/A	$1,170	$1,600	$2,150
Brushy Creek, TX	N/A	$1,481	$2,270	$2,395
Lakeway, TX	N/A	$981	$1,943	$3,000

Top Neighborhoods Near 78723

There are a total of 34 neighborhoods in or near 78723. Some of these neighborhoods include St. Johns, North University, and West University. We've included the top 30 neighborhoods out of 34 total neighborhoods in or near 78723, Austin, TX in the following table.

The average rent for these 30 neighborhoods in or near 78723, Austin, TX is currently around $1,862 per month. A total of 22 neighborhoods have a lower average rent. Meaning, only eight neighborhoods have a higher average rent than $1,862. Interestingly, the neighborhoods' average rent is less than 78723's average rent, which is actually $1,988. Out of all the neighborhoods in or near 78723, St. Johns has the most affordable average rent at $1,177 per month. Whereas, at $3,200 average rent per month, Downtown Austin is the most expensive neighborhood in or near 78723. View the following table for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
St. Johns, Austin, TX	$897	$1,139	$1,484	$1,177
North University, Austin, TX	$880	$999	$1,550	$1,188
West University, Austin, TX	$1,145	$1,000	$1,573	$1,269
Hyde Park, Austin, TX	$875	$1,138	$1,695	$1,275
Parker Lane, Austin, TX	$701	$1,000	$1,535	$1,340
North Austin, Austin, TX	$985	$899	$1,313	$1,400
Highland, Austin, TX	$1,185	$1,335	$1,813	$1,495
Pleasant Valley, Austin, TX	N/A	$975	$1,500	$1,498
Brentwood, Austin, TX	$1,328	$1,502	$2,025	$1,640
Hancock, Austin, TX	$1,372	$1,200	$1,895	$1,642
Riverside, Austin, TX	$1,450	$1,635	$2,085	$1,717
Windsor Park, Austin, TX	$914	$1,595	$1,598	$1,720
South Lamar, Austin, TX	$1,177	$1,650	$1,925	$1,800
Sweetbriar, Austin, TX	$1,517	$1,460	$1,704	$1,843
Crestview, Austin, TX	$1,260	$1,700	$1,885	$1,855
North Burnet, Austin, TX	$1,400	$1,770	$2,434	$1,869
North Loop, Austin, TX	$1,074	$1,360	$1,895	$1,895
South River City, Austin, TX	$1,300	$1,450	$2,350	$1,900
East Cesar Chavez, Austin, TX	$1,543	$1,837	$2,622	$1,966
Pecan Springs Springdale, Austin, TX	$1,720	$1,595	$1,495	$1,995
Montropolis, Austin, TX	$1,099	$1,750	$2,021	$2,012
Old West Austin, Austin, TX	$1,650	$1,946	$2,537	$2,044
RMMA, Austin, TX	$977	$1,908	$2,426	$2,167
Govalle, Austin, TX	$1,546	$1,766	$2,600	$2,193
MLK-183, Austin, TX	$1,396	$1,562	$2,100	$2,312
MLK, Austin, TX	$1,965	$2,310	$2,700	$2,450
West Austin, Austin, TX	$3,100	$1,717	$2,400	$2,550
Central East Austin, Austin, TX	$1,425	$1,900	$2,895	$2,600
Zilker, Austin, TX	$1,658	$2,530	$2,818	$2,751
Downtown Austin, Austin, TX	$2,067	$2,747	$3,850	$3,200

Top Counties Near 78723

There are a total of 19 counties located by 78723, Austin, TX. Some of these counties include Lockhart, TX, Austin, TX, and Cedar Creek-Red Rock, TX. The average rent for rentals in these counties is $1,975. That's roughly around $15 per sqft. A total of 10 counties have a lower average rent. The county that is the most affordable is Lockhart, TX. Its average rent per month is $1,500. Vice versa, with an average rent of $2,900, Dripping Springs-Wimberley, TX is the most expensive county by 78723, Austin, TX.

Typically, rent for studios in 78723, Austin, TX is 2.35% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 78723, Austin, TX is 14.48% more expensive than other counties nearby. Finally, rent for two bedrooms in 78723, Austin, TX is 15.57% more expensive than other counties nearby. We've listed the top 10 counties in the table below.

County	Studio	1 Bed	2 Bed	All
Lockhart, TX	N/A	$1,345	$1,250	$1,500
Austin, TX	$1,300	$1,464	$1,775	$1,885
Cedar Creek-Red Rock, TX	N/A	$1,459	$1,595	$1,950
Kyle-Buda, TX	$1,300	$1,599	$1,846	$1,975
Northwest Travis, TX	$1,563	$1,260	$1,529	$1,990
Round Rock-Georgetown, TX	$1,186	$1,494	$1,599	$2,095
Northeast Travis, TX	$1,119	$1,712	$1,656	$2,100
Cedar Park-Liberty Hill, TX	$1,378	$1,450	$1,763	$2,100
Taylor, TX	$2,500	$1,313	$1,488	$2,100
Southwest Travis, TX	N/A	$1,727	$1,861	$2,762

Top Zipcodes Near 78723

There are a total of 46 zipcodes in or near 78723, Austin, TX. The average rent for all of these zipcodes is $1,898. A total of 29 zipcodes have an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 76549, Southwest Bell, TX at $1,195 per month. In comparison, the zipcode with the most expensive average rent of $3,950 per month is 78746, West Lake Hills, TX.

Studios in these zipcodes have an average rent of $1,121. That's at least $25 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 78723, Austin, TX is $1,410 per month. Or in other words, $23 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,611 per month. Which comes out to $18 per sqft. The following table includes the top 10 zipcodes in 78723, Austin, TX. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
78705, Austin, TX	$1,060	$1,097	$1,600	$1,295
78701, Austin, TX	$2,067	$2,744	$3,850	$3,200
78704, Austin, TX	$1,352	$1,848	$2,302	$2,250
78702, Austin, TX	$1,525	$1,865	$2,674	$2,358
78752, Austin, TX	$1,155	$1,165	$1,500	$1,291
78741, Austin, TX	$1,024	$1,495	$1,845	$1,717
78751, Austin, TX	$887	$1,200	$1,895	$1,671
78758, Austin, TX	$1,400	$1,402	$1,600	$1,685
78745, Austin, TX	$1,199	$1,361	$1,615	$1,775
78660, Pflugerville, TX	N/A	$1,555	$1,606	$2,195

Frequently Asked Questions - 78723 Average Rents

What is the average rent price in 78723, Austin, TX?

The average monthly rental price for 78723, Austin, TX apartments for rent is approximately $1,988. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 78723, Austin, TX rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 78723, Austin, TX.

How much is a studio apartment in 78723, Austin, TX?

The average monthly rental price for studio apartments is $977 and an average price per square feet of $27.19. There are a total of 9 studio apartment listings currently available for rent in 78723.

How much is a one bedroom apartment in 78723, Austin, TX?

The average monthly rental price for one bedroom apartments is $1,695 and an average price per square feet of $28.40. There are a total of 117 one bedroom apartment listings currently available for rent in 78723.

How much is a two bedroom apartment in 78723, Austin, TX?

The average monthly rental price for two bedroom apartments is $1,895 and an average price per square feet of $21.01. There are a total of 119 two bedroom apartment listings currently available for rent in 78723.

How have rent prices in 78723, Austin, TX changed this year?

Rent prices for rentals in 78723, Austin, TX can fluctuate yearly. Specifically, studio rental prices have changed by -0.36%, one bedroom rental prices have changed by 0.05%, two bedroom rental prices have changed by -0.02%, three bedroom rental prices have changed by -0.15% year-over-year.

What is a reasonable rent price in 78723, Austin, TX?

A reasonable rent price in 78723, Austin, TX is around $1,590/month. You can search for these reasonably priced rental listings on RentHop.