Downtown Austin renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Downtown Austin is about $2,430 per month. This puts it in the 99th percentile compared to the city average cost of rent, which is $1,561. Households in Downtown Austin have a median income of $11,832 per month so the average renter in Downtown Austin is spending roughly 21% of their earnings on housing.
Nationally, and in Downtown Austin, home values are the data point most closely correlated with the cost of rent. The median price of a home in Downtown Austin is $645,309 right now, which is higher than nearby neighborhoods, meaning that rents in Downtown Austin also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the southern parts of Downtown Austin while lower rent rates are often available in northeastern areas.
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