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.