Austin Had 5th Fastest Year-To-Year Rent Growth In U.S.

AUSTIN, TX — A new report confirms what beleaguered renters already know: The rent is too darn high.

So high, in fact, that Austin ranked 5th in fastest year-over-year rent growth when compared to other major metros. For their November report, Apartment List researchers tracked rent growth, median prices and market trends.

The upshot:

• Rents in Austin are up 3.2 percent over the past year, yielding the 5th fastest growth rate among the nation's large cities. For comparison, the Apartment List national rent index grew by just 1.4 percent over the past year.
• It's part of a years-long trend: Since 2014, rents in Austin have grown by 16.1 percent — outpacing the national average of 11.3 percent.
• The median rent for a 2-bedroom apartment in Austin is currently $1,471 compared to the national average of $1,189, the findings show.

To see this month's full report for Austin, click here.