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 $1,184 in 2016 according to the Census ACS survey.1 Average gross rent in Austin was $1,222 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Austin median and average rent data will be released in September of 2018.

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 (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Texas Median Gross Rent $956 +1.27% +10.90%
Austin, TX Median Gross Rent $1,184 +3.32% +17.69%

Austin, TX Real Gross Rent Trends

At $1,184, real median gross rent in Austin was at its highest level in 2016 since the series began in 2005. At $1,222, real average gross rent in Austin was at its highest level in 2016 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
2016 $981 $956 $1,184 $1,222
2015 $972 $944 $1,146 $1,191
2014 $942 $903 $1,072 $1,127
2013 $910 $862 $1,006 $1,073
2012 $898 $844 $994 $1,050
2011 $898 $839 $959 $1,028
2010 $912 $855 $981 $1,031
2009 $916 $858 $989 $1,049
2008 $932 $869 $1,007 $1,055
2007 $885 $824 $944 $995
2006 $895 $834 $946 $1,005
2005 $869 $801 $892 $944

Austin Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Austin Texas was 6.48% according to Census ACS data.

Rental Vacancy Rate in Austin Texas

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Texas 7.65% +0.70% -0.21%
Austin, TX 6.48% +0.19% +1.57%

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 3.84% to 6.48%. Data records for this series originated in 2005. From a 2013 post peak low of 4.91%, the rental vacancy rate has increased by 1.57%.

Rental Vacancy Rate: Austin TX, Texas, US

Rental vacancy rate in Texas

Historical Rental Vacancy Rate data for Austin

Date US Texas Austin, TX
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%
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 20.01% in 2016 according to the ACS.

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

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Texas 20.28% +0.19% +0.39%
Austin, TX 20.01% -0.19% +0.58%

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 2015 (relative to the 2005 series origin) at 20.20%. Since then it has fallen by 0.19% to 20.01%.

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
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%
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 2016 42.36% of households were renters according to Census ACS data.

Austin Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Texas 38.91% -0.03% +0.75%
Austin, TX 42.36% -0.11% +0.55%

Trends in the Austin, TX Renter Fraction

The Austin household renter fraction peaked in in 2011 at 43.31% and is now 0.95% 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
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%
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.