A new report tracking the price of rent in the biggest U.S. cities has revealed Austin saw the No. 1 biggest decrease in year-over-year rents nationwide.

SmartAsset’s annual report, “Where Rent Increased and Decreased Most – 2026 Study,” analyzed the change in average rent costs in the 100 largest U.S. cities from February 2025 to February 2026, and compared them to the typical rent price in 2021.

Austin’s typical rent prices have dipped nearly 3 percent compared to what they were a year ago, which is more than any other large U.S. city, the report said. For comparison, elsewhere in the U.S., San Francisco saw the highest one-year increase in rent nationally — with typical rent prices soaring nearly 14 percent.

In February 2025, Austin residents paid an average $1,577 for their monthly rent, which has reduced to $1,531 as of February 2026.

However, Austin’s rent prices are still up 11.63 percent since 2021 when the average rental cost $1,372 per month.

Austin was one of 21 total U.S. cities where rent has fallen since last year. But across all 100 cities, SmartAsset found typical rent prices grew by an average of 1.73 percent, from $1,810 to $1,843. Combined with a 2.41 percent inflation rate that “exceeded” rent increases, the study said some households saw “extra purchasing power of their biggest monthly expense.”

“Still, many hot spots saw rent far outpace annual inflation, some in excess of a 5 percent annual increase,” the study said. “These recent trends can reveal housing and job market momentum in a particular locale, along with other contextual insights.”

Six other Texas cities had year-over-year decreases in their typical rent prices: San Antonio, Katy, Houston, Arlington, Plano, and Spring. San Antonio and Katy had the fourth and sixth biggest drops nationally.

Rent in San Antonio fell 1.72 percent year-over-year to $1,361 as of February 2026, and Katy rent prices dipped 1.43 percent to $1,896.

El Paso was the Texas city with the highest one-year rent hike, with typical rents increasing by 1.36 percent to $1,441.

The top 10 U.S. cities where rent decreased the most since 2025 are:

No. 1 – AustinNo. 2 – Saint Petersburg, FloridaNo. 3 – Washington, D.C.No. 4 – San AntonioNo. 5 – PhoenixNo. 6 – Katy, TexasNo. 7 – Aurora, ColoradoNo. 8 – Tampa, FloridaNo. 9 – Mesa, ArizonaNo. 10 – Chandler, Arizona