Austin was 1 of 3 U.S. cities where rent prices dropped since 2024

Austin renters might be seeing more affordable prices this year compared to last. A new Redfin report shows that the city’s average asking rent decreased by 3.1 percent year-over-year (YoY) from August 2024 to August 2025, making it one of only three U.S. metros – and the only Texas city – that saw a dip.

The average rent in Austin, Georgetown, and Round Rock was $1,501 YoY. In comparison, the average asking rent for U.S. buildings with 25 or more units increased by 2.6 percent YoY to $1,790. This marked the biggest jump since December 2022.

The only other two metros that reported a decline in median asking rent were Louisville, Kentucky, which dipped by 2.4 percent, and Jacksonville, Florida, which decreased by 1.9 percent.

The cities with the biggest jump in average asking rent prices were Chicago at 10.7 percent, the San Jose, California, area at 10.6 percent, Philadelphia at 9.9 percent, Pittsburgh at 9.8 percent, and the Washington, D.C., area at 8.7 percent.

Across Texas, various metros saw increases as well. Redfin reported that Dallas’ rent grew by 2 percent YoY, while Houston’s increased by 0.8 percent.

Still, the Houston area reported a lower average rent than any other Texas city, including Austin. There, the average rent was $1,442, roughly $60 cheaper than the Texas capital YoY.

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Read the full story at KVUE.com.