By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Once ‘dead’ thrusters on the farthest spacecraft from Earth are in action again
    Once ‘dead’ thrusters on the farthest spacecraft from Earth are in action again
    May 15, 2025
    ‘Don’t know what to do’: Johor Bahru’s heritage businesses near RTS station grapple with rising rents, inflation
    ‘Don’t know what to do’: Johor Bahru’s heritage businesses near RTS station grapple with rising rents, inflation
    May 15, 2025
    Jurors view ‘Freak off’ images too graphic to be shown to public
    Jurors view ‘Freak off’ images too graphic to be shown to public
    May 15, 2025
    Gaza hospital attack: Analysis contradicts Israel’s evidence justifying airstrike | World News
    Gaza hospital attack: Analysis contradicts Israel’s evidence justifying airstrike | World News
    May 15, 2025
    For U.S. Defense Industry, These Minerals Really are ‘Critical’
    For U.S. Defense Industry, These Minerals Really are ‘Critical’
    May 14, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    MOODENG price drops 14% to alt=
    MOODENG price drops 14% to $0.2613 after 703% weekly rally
    May 15, 2025
    Bitwise CIO bats for diversified crypto investment, compares Bitcoin to Google
    Bitwise CIO bats for diversified crypto investment, compares Bitcoin to Google
    May 15, 2025
    The Role of Altcoins in 2025’s Crypto Market
    The Role of Altcoins in 2025’s Crypto Market
    May 15, 2025
    Bitcoin Spread Oscillator Signals Growing Altcoin Momentum – Altseason Entry Signal?
    Bitcoin Spread Oscillator Signals Growing Altcoin Momentum – Altseason Entry Signal?
    May 15, 2025
    Dan Morehead Sees Decades of Bitcoin (BTC) Upside Ahead as Pantera Bets on Broad Crypto Future
    Dan Morehead Sees Decades of Bitcoin (BTC) Upside Ahead as Pantera Bets on Broad Crypto Future
    May 15, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Austin is the best place for renters, according to Realtor.com—forget the northeast or west
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Austin is the best place for renters, according to Realtor.com—forget the northeast or west
Austin is the best place for renters, according to Realtor.com—forget the northeast or west
Business

Austin is the best place for renters, according to Realtor.com—forget the northeast or west

Published July 24, 2024
Share
5 Min Read
SHARE

“Silicon Hills,” a “California-like city,” a boomtown: all terms once used interchangeably for none other than Austin, Texas. It’s a metropolitan area that finds itself in almost every conversation concerning housing, and this one is no exception because, according to Realtor.com, Austin is the best place for renters. 

Affordability is a big part of this, with Austin’s rent-to-income ratio at about 20%. That means renters aren’t paying more than 20% of their earnings on housing, well under the 30% cutoff that marks someone as rent-burdened. Realtor.com also accounted for a metro’s rental vacancy rate, a forecasted unemployment rate, a measure of job opportunities, among other things, too. 

After Austin, came: Oklahoma City, Oklahoma; Birmingham, Alabama; San Antonio, Texas; Minneapolis, Minnesota; Sandy Springs, Georgia; Nashville, Tennessee; Kansas City, Missouri; Raleigh, North Carolina; and Norfolk, Virginia. Notice anything? There isn’t a single city in the northeast or west on the list, and that might not be too surprising because everyone knows how unaffordable California and New York can be for renters. To compare, the median rent for all bedrooms and all property types in Austin is $2,254; in Los Angeles, it is $2,800, and in New York City it’s $3,632, per Zillow. 

In early June, an analysis from Redfin found rents fell more than 7% in Austin in May from a year earlier. It wasn’t the only city in the Sunbelt seeing declines, and the cause was simple. “Rents are falling in the Sunbelt in part because the region has been building more apartments than other parts of the country (like the Midwest and Northeast) to meet demand brought on by the influx of people who moved in during the pandemic,” Redfin wrote at the time. “But the pandemic housing boom is now in the rearview mirror, and property owners are facing vacancies, which is causing rents to cool.” 

The trend continued, and in June, rents plummeted a record 12.6% in Austin from a year ago, a separate Redfin analysis showed. Austin built a lot of homes, so rents are falling. But it wasn’t always like that; roughly two years ago, during the pandemic, Austin’s rents shot up as its population increased along with demand. Still, Austin isn’t the cheapest metro on the list, that’s Oklahoma City, with a rent-to-income ratio just under 18%. 

“Each of these leading cities is experiencing economic growth, attracting many young professionals,” the report read. “For instance, Austin, TX, and Raleigh, NC, are also top rental markets for 2024 college graduates. Furthermore, Oklahoma City, OK, Birmingham, AL, and Kansas City, MO, are located among the top metros with favorable investment environments, attracting real estate investors due to their growing populations and strong rental demands.”

It continued: “Additionally, cities such as San Antonio, TX, and Norfolk, VA, with large military presences, offer strong community support, quality services, cultural diversity, enhanced security, and real estate stability, making them attractive places to live.”

Each of the 10 metropolitan areas included in the ranking are considered more affordable with plenty of options in stable job markets with employment opportunities—plus they have higher shares of renter households and relatively short commutes, according to Realtor.com. Consider this: Austin’s rental vacancy rate is 9%, its expected unemployment rate is 3.3%, the share of those 25 and older who are renters is roughly 56%, and its typical commute time is 26 minutes (if you live in Los Angeles, that’s pretty much unheard of). Not to mention, it is headquarters to Elon Musk’s Tesla—and, potentially soon, X. 

Recommended Newsletter: CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about–and from inside–the C-suite. Subscribe Now.

#Austin #place #renters #Realtor.comforget #northeast #west

TAGGED:apartment rentAustinHousinghousing costsnortheastplacereal estateRealtor.comforgetRedfinrentRent pricesRentersWest
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Trump allies crush misinformation research ahead of election, despite Supreme Court ruling Trump allies crush misinformation research ahead of election, despite Supreme Court ruling
Next Article US has a doping problem – WADA — RT World News US has a doping problem – WADA — RT World News
- Advertisement -

Latest Post

Once ‘dead’ thrusters on the farthest spacecraft from Earth are in action again
Once ‘dead’ thrusters on the farthest spacecraft from Earth are in action again
World News
MOODENG price drops 14% to alt=
MOODENG price drops 14% to $0.2613 after 703% weekly rally
Cryptocurrency
Bitwise CIO bats for diversified crypto investment, compares Bitcoin to Google
Bitwise CIO bats for diversified crypto investment, compares Bitcoin to Google
Cryptocurrency
The Role of Altcoins in 2025’s Crypto Market
The Role of Altcoins in 2025’s Crypto Market
Cryptocurrency
‘Don’t know what to do’: Johor Bahru’s heritage businesses near RTS station grapple with rising rents, inflation
‘Don’t know what to do’: Johor Bahru’s heritage businesses near RTS station grapple with rising rents, inflation
World News
Bitcoin Spread Oscillator Signals Growing Altcoin Momentum – Altseason Entry Signal?
Bitcoin Spread Oscillator Signals Growing Altcoin Momentum – Altseason Entry Signal?
Cryptocurrency
- Advertisement -

You Might Also Like

Copper miner Freeport-McMoRan reports cybersecurity incident
Business

Copper miner Freeport-McMoRan reports cybersecurity incident

August 12, 2023
Ex-NatWest boss Dame Alison Rose who resigned over Nigel Farage row could bank £2.4m
Business

Ex-NatWest boss Dame Alison Rose who resigned over Nigel Farage row could bank £2.4m

August 23, 2023
Japan’s prime minister Fumio Kishida to step down
Business

Japan’s prime minister Fumio Kishida to step down

August 14, 2024
Rishi Sunak aide under investigation for bet on election date
Business

Rishi Sunak aide under investigation for bet on election date

June 13, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?