Austin Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Austin, TX (the Austin-Round Rock-San Marcos metro area) was $1,327 in 2019 according to the Census ACS survey.1 Average gross rent in Austin was $1,372 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Austin median and average rent data will be released in September of 2021.
Data is also available below for Austin rental vacancy rates, Austin rent as a percent of median income and the fraction of renters in Austin.
Real Gross Rent in Austin Texas (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Texas Median Gross Rent | $1,091 | +2.44% | +8.99% |
| Austin, TX Median Gross Rent | $1,327 | -0.30% | +7.02% |
Austin, TX Real Gross Rent Trends
Median gross rent for Austin peaked in real terms in 2018 at $1,331 and is now $4 (0.30%) lower. Average gross rent for Austin peaked in real terms in 2018 at $1,377 and is now $5 (0.36%) lower.
Real Gross Rent in Austin: Austin TX Median, Austin TX Average, Texas Median, US Median
Real Gross Rent History for Austin
| Date | US Median |
Texas Median |
Austin, TX Median |
Austin, TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $1,327 | $1,372 |
| 2018 | $1,077 | $1,065 | $1,331 | $1,377 |
| 2017 | $1,043 | $1,018 | $1,261 | $1,325 |
| 2016 | $1,027 | $1,001 | $1,240 | $1,280 |
| 2015 | $1,017 | $989 | $1,200 | $1,248 |
| 2014 | $986 | $946 | $1,122 | $1,180 |
| 2013 | $953 | $902 | $1,053 | $1,124 |
| 2012 | $940 | $884 | $1,040 | $1,100 |
| 2011 | $941 | $878 | $1,004 | $1,077 |
| 2010 | $955 | $895 | $1,027 | $1,079 |
| 2009 | $960 | $898 | $1,036 | $1,099 |
| 2007 | $927 | $862 | $988 | $1,042 |
| 2005 | $910 | $839 | $934 | $989 |
Austin Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Austin Texas was 5.57% according to Census ACS data.
Rental Vacancy Rate in Austin Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Austin, TX | 5.57% | -1.05% | -0.91% |
Trends in Austin, TX Rental Vacancy Rate
The rental vacancy rate in Austin peaked in 2005 at 10.32%. Since then it has fallen by 4.75% to 5.57%. Data records for this series originated in 2005. From a 2013 post peak low of 4.91%, the rental vacancy rate has increased by 0.66%.
Rental Vacancy Rate: Austin TX, Texas, US
Historical Rental Vacancy Rate data for Austin
| Date | US | Texas | Austin, TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | 5.57% |
| 2018 | 6.15% | 8.21% | 6.62% |
| 2017 | 6.18% | 8.49% | 7.55% |
| 2016 | 5.89% | 7.65% | 6.48% |
| 2015 | 5.85% | 6.95% | 6.29% |
| 2014 | 6.32% | 7.30% | 5.48% |
| 2013 | 6.49% | 7.86% | 4.91% |
| 2012 | 6.77% | 8.53% | 5.01% |
| 2011 | 7.40% | 9.23% | 5.10% |
| 2010 | 8.17% | 10.60% | 6.38% |
| 2009 | 8.43% | 10.69% | 7.78% |
| 2007 | 7.87% | 10.61% | 6.34% |
| 2005 | 7.74% | 10.60% | 10.32% |
Rent as a Fraction of Income
Using median household income data for Austin, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Austin, median monthly gross rent as a fraction of median household income was 19.67% in 2019 according to the ACS.
Austin Texas Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Texas | 20.45% | -0.26% | +0.16% |
| Austin, TX | 19.67% | -0.72% | -0.34% |
Trends in Austin, TX Rent as a Fraction of Income
The fraction of median Austin household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 20.39%. Since then it has fallen by 0.72% to 19.67%.
Fraction of Income towards Rent: Austin TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Austin Texas
| Date | US | Texas | Austin, TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 19.67% |
| 2018 | 20.50% | 20.70% | 20.39% |
| 2017 | 20.13% | 20.00% | 19.89% |
| 2016 | 20.43% | 20.28% | 20.01% |
| 2015 | 20.63% | 20.10% | 20.20% |
| 2014 | 20.89% | 20.27% | 20.06% |
| 2013 | 20.78% | 19.89% | 19.43% |
| 2012 | 20.65% | 19.65% | 19.75% |
| 2011 | 20.70% | 19.75% | 19.65% |
| 2010 | 20.50% | 19.77% | 19.78% |
| 2009 | 20.12% | 19.59% | 19.40% |
| 2007 | 18.66% | 18.52% | 17.78% |
| 2005 | 18.89% | 19.11% | 17.76% |
Renter Fraction in Austin Texas
You can calculate the renter fraction in Austin in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Austin as a fraction of total Austin households. In 2019 42.37% of households were renters according to Census ACS data.
Austin Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Texas | 38.12% | -0.16% | -0.79% |
| Austin, TX | 42.37% | +0.40% | +0.01% |
Trends in the Austin, TX Renter Fraction
The Austin household renter fraction peaked in in 2011 at 43.31% and is now 0.94% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Austin TX, Texas, US
History of Austin Renter Fraction
| Date | US | Texas | Austin, TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 42.37% |
| 2018 | 36.05% | 38.28% | 41.97% |
| 2017 | 36.13% | 38.03% | 42.29% |
| 2016 | 36.88% | 38.91% | 42.36% |
| 2015 | 36.97% | 38.94% | 42.47% |
| 2014 | 36.90% | 38.84% | 42.90% |
| 2013 | 36.50% | 38.16% | 41.81% |
| 2012 | 36.09% | 37.72% | 42.35% |
| 2011 | 35.42% | 37.08% | 43.31% |
| 2010 | 34.65% | 36.42% | 42.56% |
| 2009 | 34.13% | 36.32% | 41.34% |
| 2007 | 32.80% | 34.82% | 40.19% |
| 2005 | 33.10% | 35.29% | 39.62% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
