Austin Rental Market Update – October 2005
Average rents in Austin improved very slightly in August over July to $1258 per month. The average rented price per square foot remains at $0.69 citywide and the average size rental home is 1823 square feet.
A total 4,456 single-family homes have leased through the Austin MLS Jan 2005 thru Sep 2005, an average of 495 homes per month. We continue to have just below 3 months of rental inventory in Austin, which is an over-supply and remains a renter’s market. Homes take an average of 58 days to rent in Austin.
2005 median rents remain at $1150, the same level as the 2003/2004 median rents. See graphs below.
Call or email Steve Crossland with questions or comments. You can download a pdf version of this report by clicking here. Also, let me know if you’d like this repoert emailed to you each month.