This is how big Austin apartments get for $1,500 a month

NO SPACE TO WASTE

Photo courtesy of Riata Austin

We all know what renters dream about when they’re not thinking about the logistics of owning a home: low rent prices with the perfect amount of space. In a city like Austin, that’s getting harder and harder to come by.

In fact, for renters who have a budget of $1,500 a month, the average apartment size they can get in Austin spans about 714 square feet. That’s according to a new study by apartment rental marketplace RentCafe. The study looked at data from their sister site, Yardi Matrix, to determine the average size and price per square foot for a $1,500 monthly budget in 200 of the largest American cities.

Austin is at the bottom of the list in the overall analysis of Texas cities with the smallest space for the price. In Killeen, which is only 70 miles north, renters can find apartments that span a whopping 1,095 square feet. San Antonio renters can similarly find apartments that are nearly 300 square feet larger for the same budget.

If you head to the Houston area, Pasadena residents get an average of 1,180 square feet of space for $1,500 a month, whereas renters searching for apartments in Houston proper will only get about 997 square feet.

Renters looking to live in Fort Worth or Dallas will notice a nearly 100 square foot difference between apartments, at 909 and 805 square feet, respectively. Residents can get the most bang for their buck in the suburbs with an average apartment size well into the 900-square-foot range. Mesquite residents, by far, get the most space, at 999 square feet, whereas renters in Garland and Arlington get an average of 937 and 928 square feet for the same budget.

Elsewhere in Texas, apartments in the Rio Grande Valley have the best price per square foot in the state. McAllen residents get the most space out of any other Texas city with an average apartment size of 1,471 square feet. Renters in Brownsville, which is 60 miles east on the border, can get a similarly sized apartment that’s 1,307 square feet for the same $1,500 a month budget.

Here’s how much space you can rent for $1,500 a month in other Texas cities:

Amarillo – 1,318 square feet
El Paso – 1,222 square feet
Lubbock – 1,218 square feet
Corpus Christi – 1,126 square feet
Grand Prairie – 873 square feet
Denton – 868 square feet
Irving – 848 square feet
McKinney – 809 square feet
Plano – 766 square feet
Frisco – 740 square feet

The full report can be found on rentcafe.com.

Photo courtesy of TexasApartmentRentals.com

Austin rent prices increased nearly 10 percent from 2022, report finds

RENT'S DUE

Apartment rent keeps going up in Texas, and in Austin the increase is nearly 10 percent more than last year, making it increasingly difficult to afford living in the city. That’s according to a new national rent report from online rental marketplace Zumper.

Despite rent increases showing a small slowdown month-over-month, overall prices are still on the high side from the previous year. For example, the average rent for a two-bedroom apartment in Austin is $2,070 now, in March of 2023, which is a one percent increase from the previous month, but a nearly 10 percent increase from 2022 at 8.4 percent. The average rent for a one-bedroom is $1,670, which is a mere .60 percent increase month-over-month, but a whopping 7.7 percent increase from last year.

The report looked at rental data from more than one million active listings in the top 100 cities in the United States to determine the rankings. Zumper ranked Austin the No. 25 most expensive rental market across the nation in February of 2023, up two places from the last report.

The report attributes these recent rental increase trends to the nation's rising inflation rate and unpredictable economy. Though unemployment is low (less than 3.4 percent), potential homebuyers are being sidelined with increasing interest rates. This is causing more competition among renters all over the country.

“Many markets continue to either normalize or correct following the steep increases in rent seen in 2021 [and 2022] in the zero interest rate [and] QE environment we went through,” said Zumper CEO Anthemos Georgiades in the report. “With interest rates expected to rise further in 2023, we anticipate continued deceleration in rent rises as new household formation freezes or is at least postponed.”

Much further down the list from Austin is San Antonio, coming in as the No. 66 most expensive rental market, which is a three-place increase from a previous report. Average rent for a one-bedroom apartment stayed relatively flat over the last month, at $1,160, yet is still 7.4 percent higher than it was last year. Two-bedroom apartments saw a smaller year-over-year increase at 4.4 percent, with the average rent price at $1,430.

Several cities in the DFW metro area also made the list, as well as Houston (No. 51) and El Paso (No. 95). Most notably, Irving (No. 34) is experiencing a nearly 15 percent year-over-year rent increase for both one- and two-bedroom apartments.

The nine total Texas cities that made the list include:

No. 25 – Austin
No. 34 – Irving
No. 36 – Dallas
No. 40 – Plano
No. 51 – Houston
No. 55 – Fort Worth
No. 66 – San Antonio
No. 67 – Arlington
No. 95 – El Paso

The full data from Zumper’s National Rent Report can be found at zumper.com.

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Property Showcase

Breathtaking Hill Country hideaway is one of Vrbo's top 10 vacation homes in the country

RIVERFRONT OASIS

A magnificently hidden home located just an hour away from Austin has been chosen as one of Vrbo's "Vacation Homes of the Year" for 2023. It was the only Texas home chosen out hundreds of thousands of private residences on the vacation rental site.

The Vacation Homes of the Year showcases several popular homes throughout the country (with the occasional international spot) that range from "idyllic lakeside escapes to cozy mountain retreats and desert paradises." In all, two homes are based in California, and one each in Arizona, North Carolina, Oregon, New York, Florida, South Carolina, Idaho, Colorado, and Mexico.

Texas' Hill Country Riverfront Hideaway is tucked away on five acres of land bordering the Pedernales River in Dripping Springs. The home spans 2,150 square feet with an open-concept living area, three spacious bedrooms, two lavish bathrooms, a modern chef's kitchen, fireplace, and a breathtaking wrap-around terrace.

Floor-to-ceiling windows complete the space, allowing guests to take in all of the tranquility the Hill Country has to offer. With the home's 430 feet of river access, visitors can enjoy escaping the city and relax into the views of the vast canyon below.

Dripping Springs Riverfront Hideaway Imagine a getaway to this Hill Country paradise. Photo courtesy of Vrbo

The property is within a half hour drive to many of the finest wineries, breweries, and must-see outdoor recreation spots in nearby Dripping Springs. Fredericksburg is only an hour's drive west for those wanting to put a greater distance between them and downtown Austin.

The average nightly cost for the riverfront oasis is $475, making it an ideal destination for small groups, a family trip, or a couple's getaway.

Photo courtesy of Vrbo

The Hill Country Riverfront Hideaway was the only Texas home chosen on Vrbo's list.

Expedia Brands president Jon Gieselman shared in a press release that there were plenty of eye-catching homes to wade through for the report.

"This year’s Vacation Homes of the Year range from an urban oasis and a cozy ranch home under $400 a night to a beachfront estate that can sleep the whole family and more," said Gieselman. "Every single Vacation Home of the Year has a beautiful view, and combined boast seven private pools and fire pits, eight hot tubs and even five putting greens."

The full list of Vrbo's 2023 Vacation Homes of the Year are:

No. 1 – The Oasis Estate in Palm Springs, California
No. 2 – The Happy Roadrunner in Phoenix, Arizona
No. 3 – The Chasestone in Lake Norman, North Carolina
No. 4 – The Contemporary Gem in Manzanita, Oregon
No. 5 – Ocean View Oasis in Montauk, New York
No. 6 – The Riverfront Hideaway in Dripping Springs, Texas
No. 7 – 30A My Way in Rosemary Beach, Florida
No. 8 – Port of Call in Isle of Palms, South Carolina
No. 9 – Salmonfly Lodge in Victor, Idaho
No. 10 – Trestle House in Winter Park, Colorado
No. 11 – Villa Luna Nueva in Cabo San Lucas, Mexico

More information about Vrbo's 2023 Vacation Homes of the Year can be found on their website.

Whataburger weighs in as healthiest cheeseburger in the nation

THEMS EATIN' WORDS

With its love of greasy enchiladas, gluttonous fried steaks, and fat-speckled brisket, Texas isn’t always known as a healthy eating mecca. But it turns out that one locally beloved dish isn’t as unhealthy as one might think.

Inspired by February’s American Heart Month (albeit belatedly), Gambling.com decided to dig deep into which fast-food burger was best for the ticker and the body overall. What that has to do with online slots is anyone’s guess, but perhaps open-heart surgeries are not conducive to risk-taking.

Surprise, surprise, surprise! Local favorite/ food cult Whataburger took the top slot, earning honors with its standby cheeseburger. Assumably, the gambling site considered the mustard-slathered original, eschewing calorie bombs like bacon slices and creamy pepper sauce. Where’s the fun of Whataburger if you can’t get it just like you like it?

To arrive at the rankings, Gambling.com analyzed each burger for sugar, fat, salt, and calorie content per ounce. Each metric was given a one to ten score that factored into the final report card shared with content-hungry food journalists everywhere.

Coming in a close second was In-N-Out’s cheeseburger, a comforting fact for Texans who enjoy complaining about Californians. Rounding out the top five were Checker’s Checkerburger with Cheese, Culver’s ButterBurger Cheese, and Del Taco’s del Cheese Burger.

For those trying to make better eating choices, that list should give some pause. Yes, Whataburger beats out other fast-food faves, but it was competing against a chain that literally toasts all their buns in churned cream. Health is a relative concept.

Elsewhere on the list was another Texas darling, the No. 6 ranked Dairy Queen. Apparently, all that “hungr” is being busted by a hefty dose of sodium. Yes, we will take fries with that.

Texas ranks No. 2 best state to start a small business in new report

SUPPORT SMALL BIZ

Texas regularly ranks highly among business-friendly states, earning the No. 1 spot in Chief Executive magazine's recent annual report and the No. 5 spot in a February study of the best states for female entrepreneurs. Now, new research shows the Lone Star State stands out as one of the best places to start a small business, specifically.

Business credit card experts Capital on Tap determined Texas is the second best state to start a small business, right after Florida. They retrieved their data from the U.S. Bureau of Labor Statistics based on several factors, including new firm survival rates, corporate tax rates, the number of entrepreneurs per state, and more.

Texas has very friendly tax frameworks when it comes to small businesses; it is one of five total states that don’t impose any income tax. Furthermore, all Texas businesses that make less than $1.08 million in revenue don’t owe any franchise tax. That also includes all businesses that have less than $1,000 in tax liability.

If a small business owner in Texas needed to take out a loan, they’d be able to secure $4,811 per employee, which is the fifth-highest average loan amount in a calculation of all 50 states.

Capital on Tap COO Damian Brychcy says in a release that the decision to start a small business involves assessing several factors and risks, but he hopes his team’s research can provide future guidance for businesses and entrepreneurs no matter where they reside.

“Entrepreneurship is driven by the desire for independence,” he says. “This includes the freedom to pursue your passion, choose your workplace and working hours, and foster personal growth.”

Florida earned its top spot in the report due to its strong support of local economies with the highest number of jobs created by start-ups per 1,000 residents in the state. However, unlike Texas, Florida small businesses have to pay a 5.5 percent corporate tax rate.

The top states that are the best places to start a small business include:

No. 1 – Florida
No. 2 – Texas
No. 3 – Idaho
No. 4 – Nevada
No. 5 – North Carolina
No. 6 – Colorado
No. 7 – Washington
No. 8 – Georgia
No. 9 – California and Montana (tied)
No. 10 – Utah

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