Austin Rental Market Report

City rent trend

Austin rents held roughly flat over the past year

Market foundation

Austin has a large renter base and real listing competition

City population 993,588 Estimated residents as of July 1, 2024.

Population growth 961,899 to 993,588 Austin population estimate from the 2020 base to the 2024 estimate.

Owner-occupied housing rate 43.4% A lower ownership rate means a large renter base and more professional rental competition.

Median gross rent $1,729 Longer-term Census rent context for 2020-2024.

Average asking rent $1,850 Public market snapshot showed asking rent down $148 year over year.

Rental inventory 6,502 rentals Public listing snapshot also showed about a $1,800 median rent.

Neighborhood context

Rent varies meaningfully across Austin submarkets

78741

$1,250

West Campus

$1,537

Northwest Austin

$1,595

Central Austin

$1,779

78704

$1,995

Metro context

The broader Austin area is moving differently

Apr '26

$1,585

May '26

$1,590

Jun '26

$1,598

Jul '26

$1,602

Aug '26

$1,604

Sep '26

$1,603

The metro index ended at $1,603 in September 2026, up 0.7% year over year and down 6.6% from the same month three years earlier.

Leasing activity

Current Austin-area leasing snapshot

Metric	Latest value	Change / context
Number of leases	707	-14.4% from last year MTD
Median lease	$2,350	-1.9% from last year MTD
Average rent per square foot	$1.86	4.0% from last year MTD
Total lease volume	$1.99M	-12.8% from last year MTD
Median days on market	32 days	9 days lower than last year MTD
New rental listings	930	-10.2% from last year MTD
New pendings	783	-3.6% from last year MTD
Original list to close	95.4%	1.52% from last year MTD

Neighborhood-level rent detail

78704 shows why neighborhood and property type matter

Average rent $2,511 All rental property types in the ZIP-level dataset

Median $/sqft $2.23 Average $/sqft: $2.37

Median DOM 32 days Average DOM: 57.07 days

ZIP-level rental data is useful for property-type splits, bedroom splits, rent per square foot, and listing-count context. For Austin, it helps explain why a citywide number should not replace submarket comps.

Rental listings by property type

Apartment

170

Condo

164

Multi-Family

Single Family

115

Townhouse

Bedroom rent check

78704 median rent by bedrooms

Metric	Latest value	Change / context
Studio	$1,149	39 listings; median DOM 44 days
1 bedroom	$1,350	187 listings; median DOM 37 days
2 bedrooms	$2,100	209 listings; median DOM 25 days
3 bedrooms	$3,750	89 listings; median DOM 33 days
4 bedrooms	$6,950	20 listings; median DOM 18 days
5 bedrooms	$6,849	3 listings; median DOM 59 days
6 bedrooms	$6,000	2 listings; median DOM 41 days

Owner interpretation

What this report changes for Austin owners

Price from current compsCity rent movement and softer lease activity both point to a market where owners should verify current competing listings before assuming last year's rent still holds.

Separate citywide data from ZIP data78704 rents look very different from Austin's citywide index. Owners should use city data for direction and property-level comps for final pricing.

Watch lease-up frictionCurrent activity shows lower month-to-date lease volume and new listings compared with last year, while ZIP-level data shows meaningful active inventory in 78704.

Use the report as a planning baselineThe right management plan should connect rent, condition, tenant fit, maintenance readiness, renewal timing, and owner cash flow.

* IMC Capital sources data from multiple online references like Zillow Research, Unlock MLS, RentCast, and more. Report data is directional and should be reviewed with current property-level comps before making pricing decisions. Compare this city with other supported markets in Explore Central Texas Markets.

How Austin landlords should use this report

The data is most useful as a planning baseline. Citywide Austin rent trends help owners understand direction, current leasing activity helps explain market pressure, and ZIP-level data shows why neighborhood and property type matter. A single-family rental in 78704, a condo near downtown, a student-oriented property, and a suburban-style house on the edge of Austin can all behave differently.

Owners should use the report to frame these decisions:

Initial rent price: Compare the property against current active listings and recently leased comps, not just last year's rent.

Lease-up timeline: Prepare photos, access, condition, pet policy, and response workflows before listing.

Renewal strategy: Compare renewal rent against current market alternatives and vacancy risk.

Maintenance planning: Account for Austin heat, HVAC demand, make-ready timing, and tenant expectations.

Management fit: Decide whether the property needs leasing support, full-service management, reporting, maintenance coordination, or a more detailed rent analysis.

Frequently asked questions about the Austin rental market

Are Austin rents going up or down?

The city-level rent data used in this report shows Austin's rental index roughly flat year over year as of September 2026. The index shows direction, not the right price for any one property, so owners should still validate pricing against current comps and renter response.

Why can median lease data differ from rent index data?

They are different datasets. One view is designed to show rent trend direction, while another reflects recent leasing activity. They should be read together as market context, not blended into one guaranteed rent estimate.

Why include ZIP-level data for 78704?

ZIP-level rental metrics are useful for understanding property type, bedroom count, rent per square foot, listing counts, and days on market. The first pilot uses 78704 to show how local data can fill gaps that citywide data cannot.

Can IMC Capital estimate rent for my Austin rental property?

Yes. IMC Capital offers a free market analysis to help owners review rent potential, competing listings, property condition, and next steps. The analysis is guidance, not a guaranteed rental amount.

How often should this Austin rental market report be updated?

The ideal refresh cadence is monthly. Public rent exports, local market reports, and selective API data can be reviewed after the monthly data is complete, then the page can be updated with a visible source date.