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

RENT'S DUE

Photo courtesy of TexasApartmentRentals.com

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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These 5 major arts organizations are packing Austin's summer calendar

Summer Calendar

As the days get longer and Austinites' schedules start looking a lot more fun, our premier arts organizations start kicking off their summer programs. Whether you're a regular visitor looking for something new, or completely clueless but ready to jump in, there are plenty of opportunities this summer to break the mold. Take a class or see a movie with friends; it's as involved as you want it to be.

The following five arts organizations offer year-round programming in Austin, often at little or no cost. The summer schedules generally run through the end of May to August or even September. Most require RSVPs.

ACL Radio and The Long Center: The Drop In concert series
Thursdays, May 25 to August 10
It's hard to keep track of all these events, especially a month or more out. The Drop In, a free outdoor concert series held annually by ACL Radio and the Long Center, addresses this calendar fatigue with a timed-release schedule. On Fridays, the organizers announce the artist, and members get to RSVP; on Mondays, RSVPs open up to everyone, and the concert is held that Thursday. This process happens weekly, and will include 21 artists over the course of the series, including some Austin names like Urban Heat, Moddy Bank$, and Thebrosfresh.

Announcements will be made weekly by email and on social media. Sign up at thelongcenter.org.

The Contemporary Austin — Laguna Gloria: Art school classes
Starting May 27, dates vary by class
We don't all have the time or funds for an art degree, but art school at the Contemporary Austin — Laguna Gloria can make an artist out of any Austinite. Classes cover pottery, drawing, sound art, even smartphone photography, and more, for a well-rounded course list. Artists who are just starting out might consider "Intro to Art: 2-D," which invites artists to try several different media over seven classes, while some classes like "Advanced Watercolor Techniques" could be good for people who actually did go to art school. There are more than 100 in-person classes for adults and children of various ages in the summer programming, and seven adult classes are available online.

Classes are open to members only, but annual memberships ($50) can be bought at a 20 percent discount using the code ARTSCHOOL. Visit thecontemporaryaustin.org to browse classes.

Paramount Theatre: "Summer Classics"
May 27 to September 2
Summer feels like a good time to catch up on all those film classics you haven't seen, but it's not a time for planning. The Paramount Theatre is doing the work with more than 90 titles slated through the first few days of September, with creative scheduling blocks like "I’m Sure ChatGPT Will Turn Out Just Fine," featuring The Terminator and Robocop on June 11. Partner organizations are helping with curation, including Hyperreal Film Club, We Luv Video, and UMLAUF Sculpture Garden. Some of the screenings will celebrate anniversaries, Pride Month, and more, and some will invite special guests.

Visit austintheatre.org to see the full schedule of films, join the fan club, and more.

Waterloo Greenway: Free community events
June 5 to August 18
The Greenway is undergoing some changes this summer, but throughout the longterm projects, it's still offering lots of free programming for diverse audiences. The first several events for summer celebrate Pride Month, with workout classes, a discussion on identity, performances, and more. Then, the rest of the schedule through August is more varied, addressing different topics pertaining to conservation for kids and adults in different ways. There will also be two outdoor movie screenings, with more fun included like live music and themed snacks.

These free classes are open to everyone. Visit waterloogreenway.org to see the schedule.

Texas Performing Arts
June 10 to August 6
Texas Performing Arts recently announced a new season starting on September 7 with a staging of The Book of Life, but there are a few more events to fill up the summer before it kicks off. A few iconic shows including the long-awaited Hairspray and a rare joint concert by soul singers Gladys Knight & Patti LaBelle will sweep Austinites off their feet. Most of the programming would happen in any season, but two shows are made in collaboration with Summer Stock Austin, a student theater collective: The Wizard of Oz and Grease.

Check texasperformingarts.org for event listings, which vary in type, price, and venue.

Peek inside the $50 million renovation at this popular Hill Country resort

Staycation anyone?

If you've been looking for the perfect excuse to book yourself (or a loved one) a staycation, the Hyatt Regency Hill Country Resort has got you covered.

Located about two hours from Austin, the Hyatt Regency Hill Country Resort announced via an official press release that the extensive $50 million dollar renovations are now complete.

In addition to updated luxury amenities in every guest room at the resort, visitors will find brand new wood floors in guest rooms, updated tech for guests to use during their stay, and a brand new emphasis on Texas artwork, featured inside the hotel lobby and guest rooms.

For the techies out there, guests can expect an LG 65-inch class 4K smart ultra high-definition TV in their room, in addition to marble countertops, tilework, toilets, vanity lighting and more in their bathrooms.

Another neat detail in most (keyword most, not all) of the renovated bathrooms at the Hyatt are walk-in showers. Some of the new Texas artwork featured at the Hyatt will include graphic sketches by a local Hill Country artist, and photos and artwork paying tribute to the Hyatt's historic significance as the location of the Rogers-Wiseman ranch.

Renovations aside, what can first-time guests expect from a visit to the Hyatt Hill Country? For starters, you really don't have to leave the resort to get a nice meal — the Hyatt has five restaurants onsite, including their main dinner spot, the Antler's Lodge, which also pays tribute to the Rogers-Wiseman ranch with its wild-game centric menu.

The Hyatt Regency Hill Country Resort is also famous for its 5-acre water park, featuring a lazy river (ideal for the upcoming hot Texas summers.) They've also got the Windflower Spa and a 27-hole championship golf course on the premises.

"As we celebrate the 30-year anniversary of our beautiful resort this year, we are thrilled to offer an enhanced product paired with the premier service and experiences our guests have come to know and love over the years," says Steven J. Smith, general manager of the Hyatt Regency Hill Country Resort, via release. "We look forward to welcoming travelers, groups, and our local community to experience the updated Hyatt Regency Hill Country for an unforgettable getaway they will cherish for years to come."

Here's what the Austin airport's record-breaking summer could mean for ongoing expansions

Summer Travel

As Memorial Day approaches, staff at Austin's airport say they're getting ready to see another record-breaking summer travel season. So what does this mean for projects that are in the works and what's already been done to accommodate growth?

Officials with Austin-Bergstrom International Airport said last summer, around 7.7 million passengers traveled through between May and August. Airport spokesperson Elizabeth Ferrer said that number is expected to increase significantly this year.

"Our biggest crown jewel short-term that we are excited to be starting off is the west side expansion. So on the west side of the terminal, we are going to be adding over 84,000 square feet of space. It's going to be on three levels," Ferrer said.

Other expansions include updates to TSA's machines to allow for an easier check-in as well as updates to baggage processing systems. However, larger projects are in the works.

As far as the West Gate expansion, a groundbreaking will happen this summer, and its completion is expected in about three years' time. It will include three new gates for the airport.

Read the full story and watch the video at KVUE.com.

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