Austin rents have surpassed pre-pandemic levels after a temporary slump that was a rare boon to tenants. The most in-demand submarkets right now are:
This ranking is based on a combination of factors, including the average rent, rental rate growth and absorption, which measures how many units were leased against how many were vacated, according to a market report from ApartmentData.com.
1. Cedar Park / Leander / Four Points
Trail Oaks apartments in Leander. (Apartment List)
The top-ranked submarket has an average rental rate of $1.42 per square foot per month. The average size of an Austin apartment is 875 square feet, which would put a unit in this area at $1,242.50 a month, slightly less than the overall Austin average of $1,335.
Demand in suburban areas was growing pre-pandemic as renters were priced out of the urban core and only accelerated over the past year. "The pandemic really opened the eyes of Austin residents that there's a beautiful city outside of the urban core," said Cindi Reed, vice president of sales and development at ApartmentData.com.
Like the other suburban submarkets on this list, Cedar Park / Leander / Four Points offers a relatively affordable, family-friendly experience in beautiful the Hill Country only a short drive away from central Austin.
2. Downtown / South Congress / Barton Springs
The downtown rental submarket has rebounded after a pandemic-fueled migration into more suburban areas. (Emma Freer/Austonia)
The second-place submarket has an average rental rate of $2.57, which would put an average unit at $2,248.75.
Although the pandemic led residents to migrate out of downtown areas all over the country, demand is picking up as restrictions ease and urban amenities—bars, restaurants and crowds—regain their appeal. "Now that we're opening back up, you're seeing everything go right back to where it was," Reed said.
3. UT / Mueller
West Campus and the Mueller development came in third. (Mueller Austin)
The average rental rate in this submarket is $1.94, which would put an average unit at $1,697.50.
The return of students has helped buoy the rebound in West Campus, Reed said. The Mueller development similarly offers a central location and walkability. It also includes a diverse mix of Austin favorites such as Kerbey Lane Cafe, Torchy's and Alamo Drafthouse; plenty of green space; and fewer house parties.
4. Round Rock / Georgetown
Suburban markets, including Round Rock / Georgetown, are attractive to those renters who are priced out of more urban areas or want more space. (Bexley Round Rock)
The average rental rate in this suburban submarket is $1.36, which would put an average unit at $1,190—or $145 less than the greater Austin average.
Fast-growing Round Rock and Georgetown offer family friendliness, affordability and a small town vibe thanks to beloved institutions such as Round Rock Donuts. But they also benefit from being part of a major metro, with big-time employers such as Dell and Kalahari in Round Rock and AirBorn and St. David's Hospital in Georgetown.
5. Pflugerville / Tech Ridge / Wells Branch
Similar to Round Rock / Georgetown and Cedar Park / Leander / Four Points, the average rental rate in this suburban submarket is $1.37, which would put the average unit at $1,198.75 a month.
These northeastern suburbs also offer small-town charm—the first season of Friday Nights Light was filmed in Pflugerville—and affordability as well as relatively quick access to downtown Austin.
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Show your love for Tito's and for the community this year with a wide selection of not that ugly, uglyish, ugly, uglier, and ugliest holiday sweaters.
There's lots choose from, and plenty of accessories like scarves and socks, plus gear for your dog, too.
All of the items can be purchased online or at the Love, Tito’s Retail Store in Austin, TX. 100% of all net proceeds from online or in-store purchases go to one of the nonprofits we’ve teamed up with.
🗓 All weekend
Check out this highly anticipated art exhibition with illuminated art along Waller Creek. Tickets are free and the event includes food vendors, dazzling lights, live music, and hands-on activities
All weekend 6 p.m - 10 p.m | 📍Waterloo Park
This iconic holiday tradition lights up for the first time this holiday season starting this weekend! Reserve your spot for an enchanting light and sound performance, delicious hot cocoa, sweet treats, and some overall fun with your friends or family. The show runs till January 6th.
6 p.m and 9 p.m | 📍Mozart's Coffee Roasters - 3825 Lake Austin Blvd, Austin, TX 78703
This fitness event is free and open to the public. Get your morning started right with a "Fitness in the park" class for kickboxing! The class will be led by certified instructors and is a great way to get a cardio workout in while also honing your self-defense skills.
10 a.m - 11 a.m | 📍 Metz Park
Support local LBGTQ+ and female artists at this outdoor market with over 150 vendors. Get your holiday shopping out of the way at this event, with vendors for food trucks, handmade goods, raffles, hands on workshops and activities, and more.
Did someone say cheese?! If you're like me and always willing to get your hands on a bowl of mac and cheese, then this event is for you. Check out the Mac and Cheese festival happening this weekend to decide which vendor has. the best mac and cheese for yourself, and enjoy the bar with creative cocktails while you're at it. Tickets start at $45.
11 a.m - 3 p.m | 📍Lantana Place - 7415 Southwest Parkway