AUSTIN (KXAN) — Two Austin neighborhoods have had a more than 100% increase in average one-bedroom rent prices in the past year, according to new data released by rent.com.
The report found south Austin’s Travis Heights neighborhood took the crown for the largest annual spike in one-bedroom rent costs, with an increase of 138%. The average one-bedroom rate is listed at $1,910 in the neighborhood, per rent.com.
Central Austin followed in second place with a 108% increase, and the average one-bedroom rent clocks in at $2,613.
North Lamar is the only neighborhood noted with an average one-bedroom monthly rent costing less than $1,000, with a reported average of $850.
Nearly 50% of all available apartment units within the city cost more than $2,100, according to the report. The dataset shows that 29% of all units range between $1,501 and $2,100 per month, and there aren’t any units with average rental listings between $501 and $700.
From a metro-level snapshot, Austin isn’t the only city seeing significant spikes in average one-bedroom rent costs.
Of Austin’s neighbors, Dripping Springs came in first for the largest annual increase. Rents in the city increased 48%, with an average one-bedroom having a monthly sticker price of $1,851.
Only one city saw an annual decline in rent costs, rent.com reported: Pflugerville’s rent averages declined 5% annually, with an average one-bedroom rent of $1,293.