Average Rent in Downtown Austin, Austin, TX

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Current Versus Historical Downtown Austin, Austin, TX Rents

Downtown Austin rentals average $1,435 for a studio rental to $43,375 for a 4-bedroom rental. The median price of all currently available listings is $3,325, or roughly $4 per square feet.
For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $80 (-4.14%) year-over-year from $1,934 to $1,854. 1-bedroom rentals prices have increased by $31 (1.26%) year-over-year from $2,464 to $2,495. 2-bedroom rentals prices have decreased by $120 (-3.33%) year-over-year from $3,618 to $3,498. 3-bedroom rentals prices have increased by $38 (0.58%) year-over-year from $6,555 to $6,593. 4-bedroom rentals prices have increased by $1,538 (157.69%) year-over-year from $975 to $2,513. 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 0.52% this month. 1-bedroom rents have gone up by 2.70% this month. 2-bedroom rents have gone up by 0.11% this month. 3-bedroom rents have gone down by 0.62% this month. 4-bedroom rents have gone down by 81.39% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $3.28 $1,854 $1,934 (-4.14%) $1,817 (2.02%)
1 BR $3.63 $2,495 $2,464 (1.26%) $2,284 (9.22%)
2 BR $3.69 $3,498 $3,618 (-3.33%) $3,275 (6.80%)
3 BR $5.46 $6,593 $6,555 (0.58%) $6,559 (0.51%)
4+ BR $5.62 $2,513 $975 (157.69%) $892 (181.78%)

Historical Rents in Downtown Austin, Austin, TX

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Downtown Austin

There are a total of 13 cities nearby Downtown Austin. The average rent in Downtown Austin is currently $2,195 per month. A total of 13 cities nearby have an average rent lower than that. Our records show that Canyon Lake, TX, with an average rent of $1,650, is the most affordable city nearby. In contrast, the most expensive city near Downtown Austin, Austin, TX is Lakeway, TX. Monthly rents here are on average $3,100 per month.

Let's compare Downtown Austin, Austin, TX's rent against other top cities nearby by bedroom size. One bedrooms are about 60.00% more expensive. Two bedrooms in Downtown Austin, Austin, TX are about 52.86% more expensive. Finally, rent for three bedrooms are about 81.14% more expensive. Want more information? Check out the top 10 cities out of 13 total cities near Downtown Austin, Austin, TX in the following chart.
City Studio 1 Bed 2 Bed All
Kyle, TX N/A $1,263 $1,425 $2,000
Cedar Park, TX N/A $1,344 $1,769 $2,150
Georgetown, TX $1,252 $1,225 $1,575 $2,184
Hutto, TX N/A N/A N/A $2,195
Manor, TX N/A N/A N/A $2,200
Leander, TX N/A $1,350 $1,625 $2,200
Austin, TX $1,130 $1,400 $1,900 $2,250
Pflugerville, TX N/A N/A $1,850 $2,250
Round Rock, TX N/A N/A $1,695 $2,250
Lakeway, TX N/A N/A $2,250 $3,100

Top Neighborhoods Near Downtown Austin

There are a total of 8 neighborhoods in or near Downtown Austin. Some of these neighborhoods include North University, Hancock, and West University. We've included all of these top 8 neighborhoods in or near Downtown Austin, Austin, TX in the following chart.

The average rent for these 8 neighborhoods in or near Downtown Austin, Austin, TX is currently around $1,996 per month. A total of 8 neighborhoods have a lower average rent. Out of all the neighborhoods in or near Downtown Austin, North University has the most affordable average rent at $1,300 per month. Whereas, at $2,998 average rent per month, Zilker is the most expensive neighborhood in or near Downtown Austin. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
North University, Austin, TX $1,062 $1,250 $2,150 $1,300
Hancock, Austin, TX $1,350 $1,499 $1,825 $1,763
West University, Austin, TX $1,325 $1,300 $1,963 $1,773
Hyde Park, Austin, TX $1,010 $1,195 $1,975 $1,868
Brentwood, Austin, TX $1,300 $1,500 $2,300 $2,125
South Lamar, Austin, TX $1,175 $1,595 $1,800 $2,275
North Loop, Austin, TX $1,053 $1,400 $1,898 $2,495
Zilker, Austin, TX N/A $1,825 $2,900 $2,998

Top Counties Near Downtown Austin

There are a total of 8 counties located by Downtown Austin, Austin, TX. Some of these counties include Lockhart, TX, Kyle-Buda, TX, and Austin, TX. The average rent for rentals in these counties is $2,200. That's roughly around $1 per sqft. A total of 13 counties have a lower average rent. The county that is the most affordable is Lockhart, TX. It's average rent per month is $1,713. Vice versa, with an average rent of $3,200, Southwest Travis, TX is the most expensive county by Downtown Austin, Austin, TX.

In comparison, rent for one bedroom listings in Downtown Austin, Austin, TX is 52.91% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Austin, Austin, TX is 51.07% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Lockhart, TX N/A $1,250 $1,400 $1,713
Kyle-Buda, TX N/A $1,200 $1,648 $2,150
Austin, TX $1,130 $1,400 $1,900 $2,200
Cedar Park-Liberty Hill, TX N/A $1,349 $1,750 $2,200
Northeast Travis, TX N/A $1,657 $1,875 $2,248
Taylor, TX N/A $1,889 $1,450 $2,253
Round Rock-Georgetown, TX $1,252 $1,250 $1,625 $2,295
Northwest Travis, TX N/A $1,295 $1,873 $2,600
Dripping Springs-Wimberley, TX N/A $1,550 $2,225 $2,999
Southwest Travis, TX N/A $1,399 $2,058 $3,200

Top Zipcodes Near Downtown Austin

There are a total of 39 zipcodes in or near Downtown Austin, Austin, TX. The average rent for all of these zipcodes is $2,250. A total of 37 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 78705, Austin, TX at $1,650 per month. In comparison, the zipcode with the most expensive average rent of $4,495 per month is 78746, West Lake Hills, TX.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Downtown Austin, Austin, TX is $1,218 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,773 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Downtown Austin, Austin, TX. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
78701, Austin, TX $1,435 $2,750 $3,498 $3,275
78705, Austin, TX $1,198 $1,285 $1,950 $1,650
78703, Austin, TX $1,000 $1,700 $2,773 $2,900
78702, Austin, TX $1,565 $1,930 $2,870 $2,870
78704, Austin, TX $1,175 $1,600 $2,245 $2,900
78741, Austin, TX $1,074 $1,218 $1,785 $2,000
78721, Austin, TX N/A $1,100 $2,348 $2,500
78751, Austin, TX $1,045 $1,200 $1,973 $2,300
78756, Austin, TX $1,300 $1,400 $2,286 $1,899
78723, Austin, TX $700 $1,487 $1,430 $2,285

Frequently Asked Questions - Downtown Austin Average Rents

What is the average rent price in Downtown Austin, Austin, TX?
The average monthly rental price for Downtown Austin, Austin, TX apartments for rent is approximately $3,325. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Downtown Austin, 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 Downtown Austin, Austin, TX.
How much is a studio apartment in Downtown Austin, Austin, TX?
The average monthly rental price for studio apartments is $1,435 and an average price per square feet of $3.28. There are a total of 6 studio apartment listings currently available for rent in Downtown Austin.
How much is a one bedroom apartment in Downtown Austin, Austin, TX?
The average monthly rental price for one bedroom apartments is $2,750 and an average price per square feet of $3.63. There are a total of 86 one bedroom apartment listings currently available for rent in Downtown Austin.
How much is a two bedroom apartment in Downtown Austin, Austin, TX?
The average monthly rental price for two bedroom apartments is $3,500 and an average price per square feet of $3.69. There are a total of 62 two bedroom apartment listings currently available for rent in Downtown Austin.
How have rent prices in Downtown Austin, Austin, TX changed this year?
Rent prices for rentals in Downtown Austin, Austin, TX can fluctuate yearly. Specifically, studio rental prices have changed by -0.04%, one bedroom rental prices have changed by 0.01%, two bedroom rental prices have changed by -0.03%, and three bedroom rental prices have changed by 0.01% year-over-year.
What is a reasonable rent price in Downtown Austin, Austin, TX?
A reasonable rent price in Downtown Austin, Austin, TX is around $2,660/month. You can search for these reasonably priced rental listings on RentHop.
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