Austin is the third-fastest-growing renters market in the United States, according to a MoveBuddha relocation trends report published on Tuesday, May 26. The analysis revealed the Live Music Capital of the World underwent a whopping 29% increase in renter-occupied units from 2019 to 2024, trailing just behind Lexington Park, Maryland (34% increase) and Atlantic City, New Jersey (31% increase) for the speediest upticks in the U.S.
Austin wasn’t the only Southern city making its mark on the renters market front; MoveBuddha’s study noted 28 out of the Top 50 fastest-growing renter communities are in the South. Texas dominated in the Sun Belt region, with the highest share of renter markets at 10 listed in the Top 50 alone.
As for the Capital City’s draw, MoveBuddha credited that surge in renters’ interest due to an explosion in the construction of rental households during the reporting period. Between 2019 and 2024, Austin gained a staggering 93,206 renter units — the highest individual count among the Top 25 fastest-growing renter havens in the U.S.
“[Austin’s] robust development has helped stabilize housing prices and increased supply, even amidst waves of in-migration interest,” MoveBuddha experts added.
Within Texas, Dallas surpassed Austin in the number of individual renter units added, with 119,839 additional units added to the North Texas hub across the five-year timespan. However, its overall renter growth grew just 11.59%, well under half of Austin’s nearly 30% increase.
The closest Texas contender for renter growth came via San Antonio, which observed a 16.76% increase and the addition of 50,909 new units.