How Much Is Rent In Round Rock, Texas
How much will you pay for rent in Round Rock, TX? Whether you're relocating to this dynamic suburb of Austin because of a job or simply looking for one of the best cities in the state to raise your family, it's time to understand the cost of housing. Further, Round Rock Cleaning Services helps you make the move more smoothly, but everything starts with first diving into the numbers that back up Round Rock's apartment rental market.
Average Rent in Round Rock by Number of Bedrooms
According to Zumper's most recent data for August 2024, the median rent for all bedroom counts and property types in Round Rock comes out to $1,995 per month. Still, rent varies based on the size of the rental:
The average rent for a studio apartment in Round Rock goes for $1,250.
The average rent increases to $1,450 for a 1-bedroom.
The average rent for a 2-bedroom apartment was listed at $1,698 in Round Rock.
It upgrades with a 3-bedroom apartment to an average of $2,100/month.
You should expect to pay an average of about $2,586 per month for a 4-bedroom rental.
Worth noting, all those prices are medians, meaning that half of the rentals go for above that price, while half of the rentals go for below that price. In reality, rent price will be quite different according to various factors mentioned: how old the building is, what amenities it includes, and where in Round Rock.
Rent Prices by Round Rock Neighborhood
Rent prices can be also very different depending on a neighborhood. Following is a list of some of the most expensive neighborhoods in Round Rock as of July 2024:
Avery Ranch East - $2,500
Avery Ranch-Lakeline - $2,595
Ranch at Brushy Creek - $3,350
Vizcaya - $2,700
Arbor Place - $2,650
While some of the more affordable neighborhoods are:
Cat Hollow - $2,497
Teravista - $2,500
Stone Canyon - $2,595
Chandler Creek - $2,550
Turtle Creek - $2,575
Keep in mind that these neighborhood averages include all property types, from studios to single-family homes. Within each neighborhood you can likely find rentals both above and below the average price.
Round Rock Rent Compared to Nearby Cities
So, how does rent in Round Rock compare to other cities in the Austin metro area? Here's a quick comparison of the median rents for August 2024:
Round Rock - $1,475
Austin - $2,088
Cedar Park - $1,915
Georgetown - $2,059
Pflugerville - $1,824
Leander - $1,902
Hutto - $1,750
You can see that Round Rock rent is very similar to surrounding suburbs like Cedar Park, Pflugerville, Leander, and Hutto. Comparatively speaking, though, Round Rock is much more affordable than renting in Austin proper, which has an average rent over $600 a month higher than this.
Round Rock Rent Trends
Like much of the country, Round Rock rents were also down over the past year. In August 2024, the median rent in Round Rock was $1,630 - down 1.6% from the previous month and down 10.3% from one year earlier.
That's a steeper drop than what has occurred in the Austin metro area as a whole, where rents have declined 7.4% over the past year. Even with that decline, Round Rock's median rent remains a bit above the $1,441 metro-wide median.
Taking a longer-term view, rent growth in Round Rock has cooled significantly from its recent peak:
Rents were up 5.2% between January and July 2022.
During the same period of this year, 2023, rents actually contracted by 0.1%
Rent has dropped by 2.1% in the first half of 2024 alone.
The latest slowdown and recent declines in rent growth are probably partly due to increased supply in new apartments and economic uncertainty. However, Round Rock's strong job market and quality of life continue to make it an appealing choice for renters.
Is Round Rock Affordable?
The median rent for Round Rock is $1,475 compared to the national median of $1,314. Incomes in Round Rock are notably higher than the median nationwide, though. The U.S. Census reports the median household income in Round Rock is $96,179 while nationally it is $67,521.
Using this general rule, a household should pay no more than 30% of its gross income on rent. This means that a household would have to make at least $59,000 annually to afford median rent in Round Rock. As the high median income is $93,400, Round Rock's average rental would be decidedly affordable to many households.
Of course, being 'affordable' is a question of your specific income, expenses, and housing needs. But for many people, Round Rock can offer a great balance of quality of life and reasonable cost of living, in comparison with Austin.
Summary
In August 2024, the average rent in Round Rock for a studio rental is $1,250 while the 4-bedroom averages at $2,586. Though rent varies depending on property type and neighborhood, Round Rock's rental prices remain very comparable to other Austin suburbs while much lower than Austin itself.
While Round Rock rents have come down over the past year at a faster tempo than the overall metro area of Austin, the median rent for the city remains a tad higher than the metro median. But with great quality of life, strong job market, and more reasonable rent compared to central Austin, Round Rock continues to be an appealing option for renters.
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