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Austin's one-bedroom rent has more than doubled—a 112% increase—from April 2021 to 2022, the report said. Only Oklahoma City saw a higher year-over-year increase with a 133% jump.
Austin also had the fourth-highest increase in two-bedroom rent, with a 50% increase in the past year. The city joined a nationwide trend where rents were up 8.3% year-over-year across the U.S, a trend exacerbated by a 6.2% increase in inflation in the same time period.
But "not everyone is experiencing inflation the same way," Redfin Deputy Chief Economist Taylor Marr said in the report, and a brunt of the load has gone to cities with more move-ins. While over 90% of state rental markets increased in the last year, that jump was seen most in Sun Belt states, including Texas, Arizona and Florida.
Even with breakneck increases in rent, however, Austin's rent prices still haven't cracked the top 10: the city's one-bedroom apartments are the 12th most expensive in the nation with an average price of $2,918. Meanwhile, its two-bedrooms fall behind Texas cities Frisco, Dallas and Plano and come out 34th on the list with a $2,302 average monthly rent.
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With some of the most expensive rent in the country—$1,735 per month on average in Austin according to RentCafe—you’re going to want to search for any apartment discounts you can get.
Don’t move without weighing your options. Here are nine average-priced apartment complexes around the city with specials going on right now.
Starting at $1,335 | Parkwood Terrace | 1201 East Old Settlers Blvd.
For a taste of Round Rock living, Parkwood Terrace is offering two weeks free on its 777-square foot, $1,335 per month apartment. These apartments have big open concept floor plans. Must book through Smart City apartment locator to get this deal.
Starting at $1,395 | Iron Rock Ranch | 1215 W Slaughter Lane
These sparkling white south Austin apartments come with sky-high ceilings, built-in desks for the work-from-home grind and expansive walk-in closets. Iron Rock Ranch is currently offering $750 off classic units. Must book through Smart City to get this deal.
Starting at $1,457 | Reveal Onion Creek | 12000 S I-35 Frontage Rd.
Located in the far south Onion Creek neighborhood, Reveal offers stylish one-to-four bedroom apartments home with high ceilings, expansive windows and integrated smart entry. Reveal is currently offering six weeks free on one bedroom, one bathroom units.
Starting at $1,495 | The Mont | 2405 Montopolis Dr.
Make yourself at home in East Austin all while enjoying four weeks free on rent from 726-square foot one bedroom, one bathroom units starting at $1,495 to 1,105-square foot two-bedroom units that run for $2,260.
Starting at $1,515 | Alta Austin Ave. | 2601 N Austin Ave.
If you want to get outside the hustle and bustle of the city, head to Alta Austin in Georgetown, where you can enjoy one month free on one-bedroom, 783-square foot apartments. Residents can indulge in a 24/7 fitness center, community garden and fenced-in pet park.
Starting at $1,535 | Alexan Springdale | 5521 Springdale Rd.
This brand-new complex is bringing luxury living to the northeast side with plank flooring, nine-foot ceilings and community amenities. Currently, Alexan Springdale is offering two weeks free, on rent and utilities, for its $1,535/monthly 542-square foot apartment. Units up to two bedrooms are subject to up to four weeks free.
Starting at $1,540 | Highline | 13201 Legendary Dr.
This McNeil-area home comes with nine-foot ceilings, granite countertops and walk-in closets. Catch six weeks free on a one-bedroom, one-bathroom, 668 square foot apartment. Must book through Smart City to get this deal!
Starting at $1,665 | Lenox Park | 6000 Ed Bluestein Blvd.
Tucked in the Mueller area, Lenox Park’s apartments could be mistaken for a new home with built-in shelving and designer finishes. You can take a month off of one bedroom, one bathroom apartments starting at 528 square feet.
Starting at $1,750 | Falconhead | 3400 Ranch Road 620
The westernmost property on this list, located in Lake Travis, Falconhead will have you living in style. Act quick to get six weeks free in a 791-square foot one bedroom, one bathroom home. Must book through Smart City to get this deal!
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