Austin, TX
As rents across the country go up, Austin prices continue to fall – Austin Monitor
Photo by Gabriel C. Pérez/ KUT News
During the pandemic, Austin came to exemplify the story of housing across the country: Prices went through the roof. In 2021, the average monthly rent in the region rose 25 percent. Similar increases happened in cities in California and Arizona.
But that narrative has flipped. As tens of thousands of new apartments have opened in Austin and the rate of people moving to the city has slowed, rent prices have been falling. For more than a year.
According to new numbers from Zillow, Austin is now leading the country in declining rents. But this time few other large U.S. cities are following.
The typical monthly rent in the Austin metro is down nearly 4 percent compared to last summer. Rents in similarly priced cities – including Dallas, Phoenix and Atlanta – are rising. The average monthly rent in Austin is now anywhere between roughly $1,500 and $1,800.
In the early years of the pandemic, demand for apartments rose. Tens of thousands of people moved to the city because they could suddenly work remotely. Meanwhile, some residents already living here decided to leave shared living situations and find apartments on their own.
In response to the demand for housing, rent prices rose at an incredible pace. To builders, this indicated a need and a business opportunity: more homes.
“A lot of builders … they look at the demographics and they look at the job growth and they look at projections and they say, ‘You know what, this is going to be a good place for me to build,’” Kim Betancourt, vice president of multifamily research at mortgage-backer Fannie Mae, said. “This is what happened with Austin.”
In 2021, local governments in the Austin area issued permits to build nearly 51,000 homes, according to census data. While not every developer that receives a permit eventually builds, this represents a rate of permitting much higher than in other cities at the time.
Because construction takes several years, apartments permitted years ago are now opening. At the same time, the population surge that defined Austin in 2020 and 2021 has slowed.
More homes, fewer new people. Thus, rent prices began to fall last summer.
“It’s that building bonanza that helped to bring costs back down to earth,” Orphe Divounguy, a senior economist at Zillow, said.
Divounguy stressed that “back down to earth” does not necessarily mean more affordable. In 2022, nearly half of all renters in the Austin area lived in housing they could not afford, according to Harvard University’s Joint Center for Housing Studies.
Economists predict that Austin’s falling rents won’t last beyond next year. Because of construction costs, developers are building less than they were just two years ago.
“It’s not gonna last long,” Betancourt said.
This story was produced as part of the Austin Monitor’s reporting partnership with KUT.
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Austin, TX
More dangerous Texas floods expected after at least 2 killed and hundreds of people rescued in high water, governor says – WTOP News
AUSTIN, Texas (AP) — More dangerous Texas floods expected after at least 2 killed and hundreds of people rescued in…
AUSTIN, Texas (AP) — More dangerous Texas floods expected after at least 2 killed and hundreds of people rescued in high water, governor says.
Copyright
© 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
KERRVILLE, Texas (KXAN) — The City of Kerrville issued a shelter-in-place Thursday morning, with heavy rain causing reported evacuations early Thursday morning. A Flash Flood Warning is currently in place for Kerr County as the Guadalupe River continues to rise.
Around 5:30 a.m., the National Weather Service said a “large and deadly flood wave is moving down” the Guadalupe River.
KXAN First Warning Weather Meteorologist Kristen Currie said approximately 11 inches of rain have fallen northwest of Kerr County since 10 p.m. on Wednesday. The Guadalupe River is expected to reach major flood stage in multiple areas.
Kerr County PIO Lisa Walter said “there have been multiple swift water rescues and evacuations.” Officials emphasized not to drive through flooded streets and to turn around if water covers the roadway.
Evacuations were underway in multiple areas, according to the county, including:
- Goat Creek
- Arcadia Loop
- Lowery/Guadalupe area
- Junction Highway low-water crossings
- Other low-lying neighborhoods
Emergency shelters are open at Impact Church (Goat Creek evacuation point), Calvary Temple Church and City West Church for people in West Kerr County, the county said.
Here are the latest headlines:
Live updates
7:03 a.m.: KXAN’s Kevin Baskar is in Gillespie County providing updates on the latest flood conditions in the area. Watch his update below.
6:37 a.m.: Kerr County officials emphasized not to drive through flooded streets and to turn around if water covers the roadway.
Evacuations were underway in multiple areas, according to the county, including:
- Goat Creek
- Arcadia Loop
- Lowery/Guadalupe area
- Junction Highway low-water crossings
- Other low-lying neighborhoods
Emergency shelters are open at Impact Church (Goat Creek evacuation point), Calvary Temple Church and City West Church for people in West Kerr County, the county said.
6:27 a.m.: Video shows emergency crews hauling boats and rescue equipment through Kerrville.
6:15 a.m. NewsNation correspondent Xavier Walton and his photographer captured a structure being swept up in river water and crashing into a Kerrville bridge. The structure appears to be some sort of shipping container, pushing against the bridge.
Watch the video below:
6:08 a.m.: Kerr County PIO Lisa Walter confirms “there have been multiple swift water rescues and evacuations.”
6:02 a.m.: The Guadalupe River at Center Point is expected to crest at 35 feet, which is the same crest as July 4, 2025.
5:57 a.m.: The National Weather Service said “a large deadly flood wave” is moving down the Guadalupe River.
5:49 a.m.: The Comfort Volunteer Fire Department said it has units in Kerrville and Centerpoint alerting people along the Guadalupe River. They’re helping Kerr County with evacuations along Highway 27 between Comfort and Centerpoint. They said all VFD personnel are OK.
5:30 a.m.: The Kerr County Sheriff’s Office said in a Facebook post that it’s received reports of “street flooding in Ingram, and it’s likely many roads and city streets are flooded as well.”
AUSTIN (KXAN) — As flood threats continue across parts of South Central Texas, Austin Pets Alive! has activated emergency response efforts to support animal shelters affected by the inclement weather.
In a social media post, APA! wrote, “We began offering aid last night, working to secure fosters for 10 dogs in the Castroville shelter, an open-air shelter that sits at the bottom of a valley.”
APA! said the situation escalated overnight with additional shelters reporting flooding. One shelter confirmed that floodwaters reached its facility, APA! added.
Communities overwhelmed due to weather include Uvalde, Castroville and Sabinal.
The nonprofit is asking the Austin community to foster, adopt or donate to free up capacity for animals displaced by the disaster. APA! needs to clear out its facilities to assist the animals in need of shelter.
Here are ways you can help:
- Adopt: APA! is offering a “Name Your Own Adoption Fee” on all animals.
- Foster: The shelter is seeking foster homes for a minimum of three weeks.
- Donate: Proceeds will fund vans and response teams setting up a staging and triage center at the heart of the disaster zone, along with an expanded stockpile of preventatives, PPE and additional supplies.
If you would like to donate, click here.
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