Austin, Texas, July 23, 2025
News Summary
According to RentCafe’s recent study, Austin and nearby Round Rock have been recognized as two of the best cities for renters in the U.S., thanks to their affordability and quality of life. Austin’s median asking rent has decreased significantly, making it a favorable location for renters. With a rental market characterized by upscale amenities, these cities are appealing to seek rental properties. The analysis highlights the strong job market and new construction driving down rental prices, ultimately benefiting renters in the region.
Austin, Texas, has been recognized as one of the top cities in the United States for renters, alongside nearby Round Rock, according to a recent study by RentCafe. The study highlights the affordability and quality of life these cities offer, making them enviable locations for those seeking rental properties. Austin’s median asking rent has dropped significantly, contributing to its ranking as a favorable place for renters.
In particular, Austin’s rental market is characterized as high-end, with nearly 70% of its apartments featuring upscale amenities. The average size of an apartment in Austin is 866 square feet. While Austin remains attractive, Round Rock stands out by providing larger average apartments of 915 square feet and boasts a cost of living that is 8% below the national average. In comparison, Austin’s cost of living is reported to be 2.7% below the national average.
Austin’s economic landscape is bolstered by prominent employers including Dell Technologies, NXP Semiconductors, Keller Williams Realty, and Facebook. This has attracted a high share of college-educated residents and is part of the reason driving strong job growth in the area. Furthermore, statistics show that nearly 78% of apartments in Round Rock were built recently, indicating a fresh and modern housing stock is available.
To assess the best cities for renters, RentCafe’s analysis utilized 20 metrics that focused on factors such as affordability, job opportunities, and community feeling. The study found that a significant 41 out of the 50 best cities for renters in the U.S. are located in the Southern region. McKinney, Texas, topped the rankings, followed closely by Plano, Denton, and Fort Worth.
Recent data indicates that Austin’s median asking rent decreased by 9.6% year-over-year, dropping to $1,399. This decline marks the largest rent reduction among the U.S. metropolitan areas analyzed by Redfin. Additionally, the city has seen a substantial uptick in new apartment construction, outpacing other cities in this aspect. The increase in rental inventory has played a crucial role in driving down rental prices.
Affordability remains a focal point for Austin’s rental market, as renting is currently more economical than homebuying in many cases. For example, monthly rent for an apartment averages around $1,900, whereas purchasing the same property would cost around $3,200 for the mortgage. This contrast has led many renters to opt for leasing rather than investing in homeownership.
Austin has seen its average hourly wage for renters at approximately $33.25, which translates to an annual income nearing $70,000. This figure, combined with the lower costs associated with renting alongside dipping rental prices, has boosted renters’ negotiating power in the market due to a surplus of apartments available.
The trend toward new apartment construction in Austin is expected to slow in the future, which may impact rental prices. Overall, the findings suggest that Austin’s rental market is currently favorable for renters, providing lower prices and improved living conditions. The area’s ability to balance quality of life with affordability has made it an appealing destination for those looking to rent.
Frequently Asked Questions
Which cities are considered the best for renters?
Austin and Round Rock, Texas, have been recognized among the best cities for renters due to their affordability and quality of life.
What is the current rental market trend in Austin?
The rental market in Austin has seen a significant decline, with median asking rent dropping by 9.6% year-over-year, now averaging $1,399.
How does Round Rock compare to Austin in terms of living space?
Round Rock offers larger average apartments at 915 square feet compared to Austin’s average of 866 square feet.
What are the major employers in Austin?
Major employers in Austin include Dell Technologies, NXP Semiconductors, Keller Williams Realty, and Facebook.
How is the cost of living in Austin versus the national average?
The cost of living in Austin is 2.7% below the national average, while Round Rock’s cost of living is 8% below the national average.
Key Features Overview
| Feature | Austin | Round Rock |
|---|---|---|
| Average Apartment Size | 866 square feet | 915 square feet |
| Cost of Living | 2.7% below national average | 8% below national average |
| Median Asking Rent | $1,399 | Lower than Austin |
| Upscale Apartments | Nearly 70% | Recent constructions (78% built recently) |
| Average Hourly Wage for Renters | $33.25 | Similar to Austin |
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Additional Resources
- Newsweek: Austin Rent Prices Collapsing
- Wikipedia: Rent Control
- CBS Austin: Austin Passes Ordinance Requiring AC
- Google Search: Rental Market Austin
- The Mortgage Point: Renters Gain Bargaining Power
- Google Scholar: Rent Affordability
- CultureMap Austin: Pet-Friendly Rental Apartments
- Encyclopedia Britannica: Austin Texas Economy
- Spectrum News: Austin Highest Rent Price Drop
- Google News: Austin Rental Market
Author: STAFF HERE AUSTIN WRITER
The AUSTIN STAFF WRITER represents the experienced team at HEREAustinTX.com, your go-to source for actionable local news and information in Austin, Travis County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as SXSW, Austin City Limits Music Festival, Formula 1 United States Grand Prix, and the Austin Film Festival. Our coverage extends to key organizations like the Greater Austin Chamber of Commerce and Visit Austin, plus leading businesses in technology, automotive, and retail that power the local economy such as Dell Technologies, Tesla, and Apple. As part of the broader HERE network, including HERECollegeStation.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
