Department of Numbers

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 $1,131 in 2015 according to the Census ACS survey.1 Average gross rent in Austin was $1,176 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Austin median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Austin Texas (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Texas Median Gross Rent $932 +4.48% +11.88%
Austin, TX Median Gross Rent $1,131 +6.90% +15.29%

Austin, TX Real Gross Rent Trends

At $1,131, real median gross rent in Austin was at its highest level in 2015 since the series began in 2005. At $1,176, real average gross rent in Austin was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Austin: Austin TX Median, Austin TX Average, Texas Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Austin

Date US
Median
Texas
Median
Austin, TX
Median
Austin, TX
Average
2015 $959 $932 $1,131 $1,176
2014 $930 $892 $1,058 $1,113
2013 $898 $851 $993 $1,059
2012 $886 $833 $981 $1,037
2011 $887 $828 $947 $1,015
2010 $901 $844 $968 $1,018
2009 $905 $847 $977 $1,036
2008 $920 $857 $994 $1,042
2007 $874 $813 $931 $982
2006 $883 $823 $934 $992
2005 $858 $791 $880 $932

Austin Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Austin Texas was 6.29% according to Census ACS data.

Rental Vacancy Rate in Austin Texas

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Texas 6.95% -0.35% -1.58%
Austin, TX 6.29% +0.81% +1.28%

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 4.03% to 6.29%. Data records for this series originated in 2005. From a 2013 post peak low of 4.91%, the rental vacancy rate has increased by 1.38%.

Rental Vacancy Rate: Austin TX, Texas, US

Rental vacancy rate in Texas

Historical Rental Vacancy Rate data for Austin

Date US Texas Austin, TX
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%
2008 7.86% 10.24% 7.33%
2007 7.87% 10.61% 6.34%
2006 7.70% 10.28% 8.38%
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 20.20% in 2015 according to the ACS.

Austin Texas Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Texas 20.10% -0.18% +0.44%
Austin, TX 20.20% +0.14% +0.45%

Trends in Austin, TX Rent as a Fraction of Income

Austin renters paid 20.20% of median household income towards the median monthly gross rent in 2015. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Austin TX, Texas, US

Percent of median household income going towards median monthly gross rent in Austin Texas

Historical Data for Annual Rent as a Fraction of Income in Austin Texas

Date US Texas Austin, TX
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%
2008 19.00% 18.42% 18.03%
2007 18.66% 18.52% 17.78%
2006 18.90% 18.99% 18.31%
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 2015 42.47% of households were renters according to Census ACS data.

Austin Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Texas 38.94% +0.10% +1.22%
Austin, TX 42.47% -0.43% +0.12%

Trends in the Austin, TX Renter Fraction

The Austin household renter fraction peaked in in 2011 at 43.31% and is now 0.84% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Austin TX, Texas, US

Fraction of renters in Austin

History of Austin Renter Fraction

Date US Texas Austin, TX
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%
2008 33.36% 35.10% 39.44%
2007 32.80% 34.82% 40.19%
2006 32.73% 34.75% 39.76%
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.