Austin also has approximately 150,000 students living (renting) in the Austin area.
A number of Fortune 500 companies have headquarters or regional offices in Austin including Advanced Micro Devices, Apple, eBay, Google, IBM, Intel, Texas Instruments, 3M. Dell’s worldwide headquarters is located in nearby Round Rock, a suburb of Austin. These major companies employ approximately 200,000 people, many of which are new to Austin & choose to rent.
More than half of the Austin-area population rent.
So the tradeoff with all this growth is that rents in Austin have reached historic highs with average rental prices of $1.15 per square foot and depending on location up to $3.00 per square foot.
As of December 2015, average apartment rent within 10 miles of Austin, TX is $1383.
One bedroom apartments in Austin rent for $1223 a month on average and two bedroom apartment rents average $1554.
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