Real Estate Confidential Austin
Rental Rumblings

6 popular Austin neighborhoods where rent prices have actually dropped

6 popular Austin neighborhoods where rent prices have actually dropped

South Shore District Austin apartment rent patio downtown skyline Riverside
Rent has actually decreased in downtown Austin, but went up in the Riverside area. South Shore District/Facebook
Zumper rental map report Austin most least expensive neighborhoods July 2015
Between December and July, prices fluctuated up and down neighborhood-by-neighborhood. Photo courtesy of Zumper
South Shore District Austin apartment rent patio downtown skyline Riverside
Zumper rental map report Austin most least expensive neighborhoods July 2015

The Austin housing market is heating up, but does the same hold true for rentals? The most recent report from rental website Zumper shows that prices have actually decreased in our fair city.

It’s not a significant drop, but the median cost of a one-bedroom unit in Austin was $1,110 for June down $20 since December. And on a neighborhood-by-neighborhood basis, there are a a few surprising decreases.

Downtown Austin is still the most expensive area to rent, but the current price is $1,860, down $60 from December's median. Rent in Zilker went down by $125 (now a median of $1,525); East Cesar Chavez decreased by $70 ($1,630); West Austin is $70 cheaper ($1,420); Holly decreased by $60 ($1,540); and Old West Austin went down $50 ($1,650).

Outside of Central Austin, prices jumped, contributing to the Capital City being named the 24th most expensive market in the nation. In West Lake Hills, median rent increased $150, to $1,300. Prices in Bouldin went up by $120, to $1,620; South Lamar by $80, to $1,230; and Riverside by $50, to $1,200.

Similar hikes also happened in Austin's least expensive neighborhoods. Rent in the University of Texas campus, the cheapest 'hood in town, increased by $70 per month, to $940. Windsor Park, another more affordable area, saw a $150 increase, setting renters back $950 per month.