Cedar Park Third-Priciest City For Renters In Austin Area

CEDAR PARK, TX — Cedar Park ranks as the third most expensive city to rent in an eight-city metro area, according to a study released Wednesday.

Analysts at Zumper assessed the cost to rent an apartment in the region in achieving its rankings. Cedar Park emerged in the top three costliest cities for renters in January, with the price of a one-bedroom unit growing by 0.9 percent from last month to a median of $1,130. The rental cost of a two-bedroom dropped by 1.9 percent to $1,510, the research found.

The statewide median rent for a one-bedroom unit was $958 last month, researchers noted. That's $172 less than a comparably sized apartment in Cedar Park. On a year-over-year basis, one- and two-bedroom rents are up 0.9% and 9.4%, respectively, researchers found.

Responding to a Patch inquiry, a Zumper representative noted the 9.4 percent year-over-year growth rate in two-bedrooms indicates demand in the market that is driving prices up.

Chart provided by Zumper.

Austin remained the most expensive city in the region, with rent for a one-bedroom apartment costing $1,200, according to the report. The Williamson County seat of Georgetown experienced a 0.9 percent rent increase for a one-bedroom unit to $1,150 as the second-priciest, researchers found.

Conversely, San Marcos ranked as the most affordable city with a one-bedroom unit priced at $930. Round Rock was second with rent at $1,050, and Pflugerville ranked as the third least expensive with rent at $1,060.

For more analysis, read the full Austin Metro Report.