A new study shows Austin’s rental cost growth rate puts the city in the top ten fastest growing in the country.
Apartment List Housing economist Chris Salviati said the city has seen massive rent growth over the last two years. From August 2018 to August 2019 alone he notes Rent costs grew by 3.3{211d4eaff5f6ab776b9f468c919065fc3aae4df093916ddbc4a838f2fb9137eb}, “and that is actually more than double the national growth rate of 1.6{211d4eaff5f6ab776b9f468c919065fc3aae4df093916ddbc4a838f2fb9137eb}.” And that, he continued, makes Austin’s rents the 6th fastest growing among large cities nation wide. However Salviati said just last month, local rents grew by less than 1{211d4eaff5f6ab776b9f468c919065fc3aae4df093916ddbc4a838f2fb9137eb}.
Rents in other major Texas Cities, Dallas and San Antonio, also beat the national average. Dallas with 2{211d4eaff5f6ab776b9f468c919065fc3aae4df093916ddbc4a838f2fb9137eb} rent growths while in San Antonio’s grew by 2.3{211d4eaff5f6ab776b9f468c919065fc3aae4df093916ddbc4a838f2fb9137eb}. Houston’s rents however remained relatively flat with a growth rate of 0.6{211d4eaff5f6ab776b9f468c919065fc3aae4df093916ddbc4a838f2fb9137eb}.
(Photo:Shutterstock/Chinnapong)
