x
Breaking News
More () »

Report: Rent is falling in mid-size cities, but Austin's rent is still skyrocketing

Housing experts say now that work has called some people back to bigger cities, housing demand in mid-sized towns is down.

AUSTIN, Texas — Everywhere you look, rents are skyrocketing across Central Texas — especially in Austin. But that's not the case in some of the nation's mid-size cities, according to new data.

Housing experts say now that work has called some people back to bigger cities, housing demand in mid-sized towns is down. On the flip side, that's the same reason rent is up in cities like Austin.

According to data from Rent.com, Austin and Oklahoma City, Oklahoma, are experiencing incredible rent growth, with 112% and 133% increases respectively year-over-year for one-bedrooms. Outside the northeast, west and Texas, Rent.com said Little Rock, Arkansas, is among the biggest price movers with a 36.8% increase in one-bedrooms and a 45.2% increase in two-bedroom rents.

Austin also made the list for cities that have experienced the biggest increases in two-bedroom rent prices year-over-year, with a 50% increase.

Meanwhile, Baltimore and Cleveland are tied at the top for the biggest rent drops in the U.S., both with 11.8% drops. Lubbock, Texas, is seeing around a 3% drop and Arlington, Texas, is seeing a 10% drop, depending on the type of apartment.

Read Rent.com's full Rent Report for May 2022 to learn more about current trends.

KVUE on social media: Facebook | Twitter | Instagram | YouTube

PEOPLE ARE ALSO READING:

No, stickers on trucks saying they aren't responsible for breaking your windshield aren't correct

'I was confused, scared, nervous' | Man says roommate robbed, kidnapped him at gunpoint

Abbott says agreement reached to reopen baby formula plant

Burnet County deputies investigating death at off-road trail park

Paid Advertisement