The home prices in Texas’ capital city might be cooling down compared to COVID-era highs, but its renters market continues to sizzle as one of the fastest-growing in the nation.
Austin is the third-fastest-growing renters market in the United States, according to a MoveBuddha relocation trends report published on Tuesday, May 26. The analysis revealed the Live Music Capital of the World underwent a whopping 29% increase in renter-occupied units from 2019 to 2024, trailing just behind Lexington Park, Maryland (34% increase) and Atlantic City, New Jersey (31% increase) for the speediest upticks in the U.S.
Austin wasn’t the only Southern city making its mark on the renters market front; MoveBuddha’s study noted 28 out of the Top 50 fastest-growing renter communities are in the South. Texas dominated in the Sun Belt region, with the highest share of renter markets at 10 listed in the Top 50 alone…