More than 100 neighborhoods make up Austin and in addition to being the state capitol of Texas, it’s known for its vibrant live music scene and hosting the second largest music festival, South by Southwest (SXSW).
The demographics tend to lean younger with the University of Texas at Austin campus located near downtown but many individuals and families choose to put down roots in neighborhoods throughout the city.
There are plenty of affordable apartments to be had in Austin but rent is increasing in some neighborhoods thanks to its diversity and the welcoming personalities of its residents.
Here are five Austin neighborhoods in which rent for one-bedroom apartments has been increasing over the past year.
Photo courtesy of Beck at Wells Branch
- Price increase over the past year: 11.55 percent
- Average rent for one-bedroom in Milwood: $1,116
A relatively young neighborhood, Milwood‘s homes were mostly built in the late ’70s and early ’80s. Located in north Austin, the family-friendly community organizes everything from neighborhood-wide garage sales to plant sales at the Adelphi Acre Community Garden, an all-volunteer organic growing cooperative.
Word has been getting out about this quiet neighborhood as rents have been increasing in Milwood. A one-bedroom can be found for $878 in Milwood, more than 17 percent from last year.
Fun Fact: Balcones District Park nearby has a hiking trail with a natural waterfall when the creek is flowing after it rains.
4. Barton Hills
- Price increase over the past year: 14.28 percent
- Average rent for one-bedroom in Barton Hills: $1,410
Located in the southern part of Austin, residents who love the outdoors and nature will appreciate Barton Hill‘s natural scenery and abundance of greenery. The Barton Creek Greenbelt, a stretch of 12 miles of trails, runs through the neighborhood and Zilker Park, the location of South by Southwest music festival. Lady Bird Lake and downtown are a quick trip away by car or public transportation.
Its convenient location, access to natural green spaces and top-rated schools make it attractive to many residents which is among the reasons rents have been increasing in this neighborhood. A one-bedroom can be had for $1,140 in Barton Hills, an increase of 14 percent from last year.
Fun Fact: The Trail of Lights is one of Austin’s beloved annual holiday traditions and takes place in neighboring Zilker Park.
3. West University
- Price increase over the past year: 15.51 percent
- Average rent for one-bedroom in West University: $1,234
West University also goes by West Campus and, perhaps not surprising, gets its name from its close proximity to the University of Texas at Austin, which it borders. The dense area is only 10 blocks wide and 10 blocks long and popular among university students who want to live within walking distance of campus, as well as those participating in fraternities or sororities since the majority have houses here.
For those who need to use public transit, it’s not only easily accessible in West University but free for UT students, making it even more attractive to live in the neighborhood without a car.
Its popularity among college students is part of the reason rents keep increasing. In just one year, rents have risen more than 15 percent, bringing a one-bedroom to approximately $1,234 per month.
Fun Fact: West University is a historic area and considered the second most bike-friendly community in Austin.
2. Parker Lane
Photo courtesy of Montecito
- Price increase over the past year: 18.65 percent
- Average rent for one-bedroom in Parker Lane: $1,064
Those seeking a quieter neighborhood within an urban environment might find the suburban feel of Parker Lane more their style. Unlike other Austin neighborhoods filled with shops, restaurants and nightlife, Parker Lane is a residential community complete with mature tree-lined streets but conveniently located near three major local highways and thoroughfares.
Even though it maintains a relatively low profile, rent has been increasing in this quiet neighborhood. In the past year alone, rent for a one-bedroom has risen by nearly 19 percent to $1,064 per month.
Fun Fact: Mabel Davis District Park is a 50-acre park that features one of the first public concrete skate parks in the city.
1. Garrison Park
Photo courtesy of 6103 Woodhue Dr.
- Price increase over the past year: 20.48 percent
- Average rent for one-bedroom in Garrison Park: $1,078
Located in the southern part of Austin, Garrison Park is a family-friendly and quiet community filled with mostly two and three-bedroom, single-story homes built around the 1970s and 1980s.
The close-knit community appreciates its friendly neighbors, whether it’s seniors, families with young children or young professionals. Its location just south of South Congress Avenue (or SoCo to the locals) and downtown make it easy to get to attractions and events in those areas and its proximity near MoPac I-35 make it just as convenient to get to other parts of the city.
Rental rates have increased by almost 21 percent in Garrison Park, raising the rent to about $1,078 per month.
Fun Fact: While Garrison Park is more subdued, locals head to SoCo to hear music, shop at the art galleries and boutiques and dine at the restaurants or enjoy the dishes from the food trucks.
We looked at all neighborhoods in Austin with sufficient available inventory on Apartment Guide and Rent.com and compared the average price from November 2018 to November 2019 to find the neighborhoods with the highest percentage increase in one-bedroom rent prices.
The current rent information included in this article is based on November 2019 multifamily rental property inventory on Apartment Guide and Rent.com and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.