Over the past 3–6 months, Austin has experienced a consistent softening in rent prices, with most unit types seeing year-over-year declines of roughly 4% to 7%. While some high-demand neighborhoods have stabilized, the overall market continues to trend downward as the city works through a historic backlog of new apartment completions. This shift is primarily driven by a massive supply wave—specifically the delivery of over 30,000 units in the last year—which has pushed vacancy rates to a multi-year high of nearly 13.8%. Consequently, landlords have increased the use of rent concessions, such as "two months free," to maintain occupancy amidst this unprecedented inventory surplus. As of April 2026, the current median rent across all unit types in Austin is approximately $1,385.
Georgetown
Over the past 3–6 months, Georgetown has experienced a visible softening in rental prices, with the average rent decreasing by approximately 2.9% year-over-year. This cooling trend has brought relative stability to the market, as prices have transitioned from the rapid escalations seen in previous cycles to a period of modest month-to-month fluctuations. This shift is primarily driven by a significant influx of new multifamily inventory and a broader rebalancing of supply and demand across the Greater Austin metro area. As local builders pivot toward more entry-level and mid-range construction, the increased competition has granted renters more leverage, often resulting in stabilized rates and increased move-in concessions. As of April 2026, the current median rent across all unit types in Georgetown is approximately $1,495
Round Rock
Over the past 3–6 months, Round Rock has experienced a measurable downward shift in rent prices, with overall rates decreasing by approximately 4.5% year-over-year. While certain high-end complexes have maintained their pricing, the majority of the market has seen a transition toward stability or slight decline following the rapid growth of previous years. This change is primarily driven by a significant volume of new multifamily deliveries reaching the market, which has elevated the local vacancy rate to nearly 7%. The resulting increase in inventory has shifted leverage toward tenants, prompting landlords to offer more frequent concessions, such as reduced security deposits and "one month free" specials, to maintain occupancy levels. As of April 2026, the current median rent across all unit types in Round Rock is approximately $1,345.
Apartment listings
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(Data sourced from Apartments.com)