austin apartments / housing for rent "burnet" - craigslist (2024)

FAQs

Is it hard to get an apartment in Austin? ›

Is it hard to find an apartment in Austin? While it's easy to find an apartment, the real challenge lies in finding options that fit within your budget and offer the amenities you're looking for. For that reason, try to begin your search 60 to 90 days before your current lease ends.

Austin's population grew by nearly 100,000 people in the first years of the pandemic. With buying a house increasingly out of reach, more people sought out rental homes. The average price of monthly rent jumped 24 percent in one year. Some renters had to outbid their neighbors to get a home.

Prepare All Your Necessary Documents

This includes your driver's license or ID, Social Security Number, birth certificate, and more. You'll also need to provide proof of income and previous rental history. If you're moving from out of state, you may need to provide additional documentation.

Landlords generally prefer a minimum credit score of at least “good,” which is 670 to 739. A score at or above that range will make apartment applications easier. Still, even a “fair” (580 to 669) or “poor” (300 to 579) score won't necessarily put the kibosh on your rental hopes.

Key Takeaways. Austin's cost of living index stands at 129.1, making it more affordable than some major US cities, but higher than the national average, with estimated monthly and annual incomes required to live comfortably set at $2,600 and $58,800 for singles, and $110,520 for families.

KEY TAKEAWAYS. Significant Rent Decline: Austin experienced the most significant decrease in average rent in the first quarter of 2024 among major U.S. cities, with the annual effective rent falling 6.2% to $1,562 compared to the first quarter of 2023.

Austin rents are flat month-over-month and down 7.3% year-over-year. The median rent in Austin rose by 0.3% over the course of May, and has now decreased by a total of 7.3% over the past 12 months. Austin's rent growth over the past year has has fallen behind both the state (-2.9%) and national averages (-0.8%).

In conclusion, the proliferation of population, job marketplace expansion, and flourishing tourism have all been factors in inflating the cost of living in Austin.

What are some affordable neighborhoods in Austin, Texas? Austin offers a variety of affordable neighborhoods, such as North Lamar, Windsor Hills, Garrison Park, and Southland Oaks. Avery Ranch is also considered to be an economical option for those looking to buy or rent in the city.

What is the best month to rent an apartment? ›

The lowest rental rates are usually found between October and April, particularly right after the December holiday season. Fewer people are interested in moving—the weather's bad, schools are in session, etc. So individuals renting between the months of December and March typically find the best rental bargains.

Residents that are unable to verify the income needed to properly qualify, must have a qualified Guarantor (see Guarantor details below) or pay for the lease in its entirety up front in full. Credit History: Landlords will obtain a credit report, in order to verify your credit and rental history.

San Antonio, Fort Worth, Tyler, New Braunfels, and Houston are the top five rental markets in Texas for 2024.

Landlords are required to provide applicants with written notice of their selection criteria. For example, the landlord may deny an application because of the applicant's criminal background, rental history, income, or credit score.

Most people or companies renting out apartments will expect you to have a score of 620 or higher. However, because Austin is a hot market with high demand, rental companies and landlords may want to see scores over 700.

As for the capital city of Austin, it ranked as the 65th most expensive city of the 99 analyzed. Individuals need roughly $100,000 to live comfortably on their own, and families of four need about $224,000. Alternatively, cities on both coasts ranked as the most expensive for single earners and families.

Owning a rental property in the 'landlord-friendly' state of Texas has plenty of perks. Texas boasts a potent combination of great weather, strong employment and low taxes that attract plenty of renters to thriving cities like Austin, Dallas, Houston and San Antonio.

Rapid growth means more traffic congestion

While Austin, Texas, boasts an array of appealing attributes, it's essential to consider some potential drawbacks before deciding to call the city home. One notable challenge is the city's rapid population growth, which has led to increased traffic congestion.