Questions about real estate? We’ve got answers.
What’s the average rent in Austin?
According to RentCafe & TAR as of May 2019 the average rent for a 620 sqft 1 bdrm is $1363 for a 12 month lease. The nation’s average 2 bdrm price is $1174. Thus making Austin about 16% more expensive than the nation’s average. Entry level into Austin (10 mile radius of downtown) is > $850 for a 1 bdrm. Typically these will have carpeting and laundry facilities on the property but not inside the individual unit.
What are the rental markets in the Greater Austin Metropolitan Area?
There are 3 leasing markets in Austin. TAA (Texas Apartment Association) offers apartment communities from 50 units to 500 units per community. TAR (Texas Realtors Association) typical caters to the Private Owners offering their houses, condos, duplexes, townhomes, fourplexes, triplexes and multifamily properties.Last there is the Pre-Leasing market. Solely servicing the college campuses where they begin leasing 10-12 months in advance.
When should I tour properties?
We encourage you to wait visiting any TAA property until you’re ready to lease. Often there are Look n Lease specials (incentives) that retain a 6-48 hours time expiration. Meaning that if you do not lease within the time frame you lose the offer. So if you visit then go back after the expiration you have forfeited the incentive which can be 2-8 weeks of free rent or a $500-1000 gift card.