July 15,2025: Lease prices across the Austin MLS have increased significantly over the last decade, showing long-term growth but recent signs of market stabilization. In 2015, the average lease price was $1,668. By 2025, that number climbed to $2,420, reflecting a 45% increase over ten years. Despite this growth, the past two years have shown a slowdown in price gains.
Monthly data from 2015 to 2025 shows steady increases, with sharp jumps in 2021 and 2022. In January 2020, the average lease price was $1,872. By January 2022, prices rose to $2,325, a $453 increase in just two years. In 2021 alone, lease prices increased by an average of 12.2%, followed by another 12.7% increase in 2022. These two years saw the fastest rent growth during the entire ten-year period.
The highest lease price on record occurred in August 2022, reaching $2,560. Prices remained above $2,500 for several months that year, including June and July. Summer months consistently show higher prices compared to winter, with June, July, and August being the peak rental seasons. For example, July lease prices rose from $1,724 in 2015 to $2,460 in 2025, a 42.7% increase over ten years and 24.2% over five years.
Since 2023, lease prices have started to level out. The average lease price in 2023 was $2,444, nearly identical to 2022. In 2024, the average dipped slightly to $2,389, marking a -2.2% year-over-year change. So far in 2025, prices continue to soften, with a small -1.0% decline compared to the previous year. For example, March 2025 lease prices averaged $2,372, down from $2,472 in March 2024, showing a $100 drop or -3.9%.
Year-over-year data confirms this shift. From 2021 to 2025, June lease prices rose 29.1%, while from 2016 to 2025, they increased 45.4%. May saw a five-year gain of 24.3% and a ten-year gain of 41.1%. April prices grew 28.3% over five years and 45.2% over ten years. These long-term gains show strong upward momentum despite recent declines.
Winter months typically show lower lease rates. In January 2025, the average lease price was $2,325, slightly down from $2,370 in January 2024. December 2025 saw prices average $2,320, lower than the $2,362 in December 2023. These patterns reflect seasonal trends in the rental market, with lower demand during colder months.
Overall, the Austin MLS lease market has experienced strong long-term growth. While prices peaked during 2022, recent years have shown signs of stabilization. The data shows both the strength of the market over time and a cooling trend that may reflect shifting demand, new inventory, or broader economic changes.
Austin Lease Market: Your Top Questions Answered
1. How much have lease prices increased in the Austin MLS over the past 10 years?
Lease prices in the Austin MLS rose from an average of $1,668 in 2015 to $2,420 in 2025. This represents a 45% increase over the past decade, showing strong long-term growth in the rental market.
2. When did Austin MLS lease prices reach their peak?
The highest lease prices were recorded in August 2022, when the average reached $2,560. Lease rates remained above $2,500 during much of the summer of 2022.
3. Have lease prices in Austin dropped in recent years?
Yes. After peaking in 2022, lease prices began to soften. In 2023, the average was $2,444. That number dropped to $2,389 in 2024 and has continued to decline slightly into 2025.
4. What months have the highest and lowest lease prices in the Austin MLS?
Lease prices are typically highest in the summer months—June, July, and August. They tend to be lower in the winter, particularly in December and January. For example, January 2025 averaged $2,325, while July 2022 reached $2,510.
5. What is the average yearly growth rate of lease prices in Austin since 2021?
From 2021 to 2025, the average lease price grew by around 24% to 29%, depending on the month. For example, June prices rose 29.1%, and April prices increased by 28.3% over the same period.
