The average Austin rent is steadily increasing after a months-long pandemic slump, largely due to prospective homebuyers who have been exhausted by the frenzied local housing market and turned to apartments. After a nine-month pandemic downturn, the average rent in the Austin metro began to creep up in December. It is now $1,442 a month, up from $1,278 in July 2020 and $1,311 in July 2019, according to the latest market report from AparrtmentData.com. Austin-area renters should expect this rate of increase to accelerate as property owners get higher and higher appraisals and the resulting tax bills that they have to pass along to tents in the form of higher rents.
Full Article here: Hot housing market pushes Austin rents to all-time high
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