AUSTIN (KXAN) — Many in Austin have felt the pinch of rising costs — it’s something city and county leaders have discussed at great length. That’s also a factor for University of Texas at Austin students, many of whom are moving back to our city this weekend.
“A lot of the things that are still available when I’m looking for them are like way out of my price range,” Cole Alley, a UT senior said as he lugged the last of his belongings up to his new apartment.
Alley, from Houston, said Austin seems to be much less affordable than his hometown and finding a room near the school was a project — from word of mouth, to scouring websites, to doing tours.
“The things that I think are kind of necessary for a proper apartment like good amenities, good security, good management are hard to find,” he said.
According to Redfin, a real estate company that provided KXAN with it’s most recent rental report from July, Austin saw a nearly 20% increase in median asking rent in July compared to the year prior. The median asking rent sat at roughly $2,500, the report noted. That’s around $500 more than the national average.
Looking through an off-campus apartment finder through the University, it appears as of this weekend, one bedroom near UT can cost anywhere from $500 to thousands of dollars.
Alley said he finally landed with an apartment he’s comfortable with near campus, one that he’ll share with a roommate, but that affordability in Austin is difficult for students like him.
“Rent in west campus has just gotten so high,” he said. “It wasn’t easy to find this place.”