Average Rent in Austin 2026
The average rent in Austin, TX is $1,500 for a 1-bedroom, $1,900 for a 2-bedroom, and $2,400 for a 3-bedroom apartment in 2026. The cost of living in Austin is 14% above the national average. To afford a 1-bedroom apartment here using the 30% rule, you need an annual income of at least $60,000.
Austin Rent Prices by Bedroom
1 Bedroom
$1,500
per month
2 Bedrooms
$1,900
per month
3 Bedrooms
$2,400
per month
Cost of Living in Austin
114
Cost of Living Index (100 = national average)
Austin's cost of living index is 114, which is 14% above the national average. This index factors in housing, groceries, transportation, healthcare, and utilities. A higher number means you need more income to maintain the same standard of living compared to the national average.
Austin at a Glance
Population
979K
Median Income
$75,752
COL Index
114
Rent Control
No
How Much Income Do You Need to Rent in Austin?
The widely accepted guideline is to spend no more than 30% of your gross income on rent. Here is the minimum annual income you need to afford an apartment in Austin by bedroom count:
1-Bedroom
$1,500/mo rent
$60,000/yr
2-Bedroom
$1,900/mo rent
$76,000/yr
3-Bedroom
$2,400/mo rent
$96,000/yr
Based on the 30% rule: monthly rent should not exceed 30% of gross monthly income.
How Much You Save with a Roommate in Austin
Save $550/month
by splitting a 2-bedroom with a roommate
Solo 1BR
$1,500
per month
Split 2BR
$950
per person/month
Annual Savings
$6,600
per year
Instead of paying $1,500 for a 1-bedroom on your own, splitting a 2-bedroom ($1,900) with one roommate brings your share to $950. That is $6,600 per year you could put toward savings, investments, or paying down debt.
Rent Control in Austin
Austin, TX does not currently have rent control or rent stabilization laws. Landlords can raise rent by any amount at lease renewal, though they are typically required to provide advance notice (usually 30-60 days). If you are concerned about rent increases, consider negotiating a longer lease term for price stability.
Rent Calculators for Austin Renters
Use these free calculators to plan your Austin rental budget, split rent with roommates, and check if you qualify for an apartment.
Rent Affordability Calculator
Find out how much rent you can afford based on your income.
Fair Rent Split Calculator
Split rent fairly by room size, features, and income.
Rent-to-Income Calculator
Check if you meet the 3x rent rule landlords require.
Renter Budget Calculator
Build a 50/30/20 budget around your rent payment.
Frequently Asked Questions About Renting in Austin
Is Austin expensive to rent in?
Austin is moderately priced for a fast-growing tech hub. A 1-bedroom averages $1,500 per month in 2026, about 14% above the national average. Rents surged during the 2020-2022 tech boom but have stabilized as new supply has come online. Texas has no state income tax, which helps offset higher rents.
How much income do you need to rent in Austin?
Using the 30% rule, you need about $5,000 per month ($60,000 annually) to afford an average $1,500/month 1-bedroom apartment in Austin.
How much can you save by splitting rent with a roommate in Austin?
Splitting a 2-bedroom ($1,900/month) with one roommate brings your share to $950, saving $550 per month or $6,600 per year versus renting a 1-bedroom alone.
Planning to rent in Austin?