In a Bloomberg news article, Paulina Cachero reports that one-bedroom apartment rental rates in the Austin market have grown the fastest around the country.

Rising by more than 108%, while other markets in Texas are decreasing, (sometimes by 50%, over the past year) Austin’s rental market is outpacing every other city in the country. The expectation is that rental rates will continue to rise for some time:

“The housing market is still hot, and the levers being used to cool it are all making home ownership more expensive. This means more people will remain renters and rental demand will stay high.” – Jon Leckie, Data Journalist for Rent.com

Although rates are higher in Austin, the Austin economy is also doing very well. The monthly economic indicators at the Austin Chamber of Commerce report that with a 7.7% increase in nonfarm payroll jobs between February 2020 and May of this year, the Austin MSA is the second best performing in the country.

With its booming tech industry, strong economy, and fast growth Austin promises to remain among the best places to live well into the future.