Austin second in nation in rising rents, average rent more than $2,200

The cost of rent continues to surge across the U.S. and new research finds that Austin is second in the nation when it comes to rising rents. 

According to Redfin, between January 2021 and January 2022, rents in Austin surged by an average of 35%. Redfin found that the average rent in Austin is now $2,245. 

Portland, Oregon was the only city to increase more. It saw an increase of 39%.  The rest of the top 10 metro areas, all in the New York/New Jersey area and Florida, all saw increases of more than 30% as well. 

  1. Portland, OR (+39%)
  2. Austin, TX (+35%)
  3. Newark, NJ (+33%)
  4. Nassau County, NY (+33%)
  5. New York, NY (+33%)
  6. New Brunswick, NJ (+33%)
  7. Tampa, FL (+31%)
  8. Fort Lauderdale, FL (+31%)
  9. West Palm Beach, FL (+31%)
  10. Miami, FL (+31%)

Only two of the top 50 metro areas saw rents fall in January from a year earlier: Kansas City, Missouri and Milwaukee both saw decreases in rent by 4%.

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