The increase: about 11 to 12 percent year over year, with the average price of a two-bedroom now sitting around $1,800.
Apartment prices in Austin have soared over the past few years, but experts now say there is some relief in sight.
In addition to exploding population, experts say higher property taxes, spiking insurance premiums and supply chain and inflation issues are all contributing to rent hikes.Kelly, who lives in Northwest Austin, says it hit her in the wallet just like so many others.Emily Blair of the Austin Apartment Association says if your lease renewal is giving you sticker shock, talk to your management company or landlord.
In addition to exploding population, experts say higher property taxes, spiking insurance premiums and supply chain and inflation issues are all contributing to rent hikes.
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