Austin's rent closes gap with Dallas-Fort Worth, matching costs

Renters in Dallas and Austin are now encountering roughly the same rents, marking a major shift in the Texas housing dynamic, according to new data from Co-Star, a company specializing in real estate data.

Multifamily market rents in Dallas and Austin are essentially equal, according to a new report from Co-Star. Through the third quarter of 2025, Dallas-Fort Worth saw market rents of $1,550 per month, while in Austin, market rents hit a four-year low of $1,553, the data shows.

Market rents got cheaper over spring and summer, according to Co-Star analysis, but Austin saw a much bigger dip. Market rents in Austin dropped by about $100 from the end of 2024 to the end of 2025, data shows.

“Through boom and bust, Austin has carried a premium in asking rents relative to other major Texas markets,” Co-Star’s report reads. “The historical rent gap between Austin and Dallas-Fort Worth averaged about $130 per month, but that margin has narrowed significantly due to Austin’s unprecedented development surge.”

Austin’s rental inventory has grown by 27 percent in three years, while DFW’s grew by 13% in the same time, Co-Star analysts Israel Linares and Bill Kitchens said. Market rents in downtown Austin remain the highest in the state at $3,563. Dallas’ most expensive neighborhood for renters, Uptown, has an average asking rent of $2,400.

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