Rents are 8% above what Lakeway's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,603 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Lakeway is at its highest level since Zillow's records here began in January 2022.
Rent in Lakeway changed +5.0% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
Rent has risen 8 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($190,060) is $4,752 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,680).
Lago Vista, 5 miles away, rents for 33% less ($1,754/mo), about $10,200 a year in savings.
From Zillow's monthly rent index (ZORI) for Lakeway. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Lakeway, TX is majority owner-occupied, has a large retiree population, has a median income above the national average, 74% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Lakeway, TX has changed in 5 years
Compared with 2022, rent in Lakeway, TX has increased by $35 per month, settling near $2,603 after starting the period at $2,568. Census figures show median household income at $190,060 today, compared with $142,566 five years earlier. Income growth outran rent by about 31.9 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 18,471 to 19,307 between 2021 and 2024, a 4.5% change. About 13.7% of households rent today, against 16.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 71.6% to 74%. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.
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Can you afford rent in Lakeway on your salary?
At $2,603/mo, how Lakeway rent compares to typical pay (30% rule).
Lakeway rent by bedroom count
Median rent for each apartment size in Lakeway. Click any size for full breakdown.
Tips for renters in Lakeway
Last updated: October 17, 2026
The median rent in Lakeway is $2,603/mo as of October 2026. A studio apartment averages $1,980/mo while a 2-bedroom runs $2,490/mo. One-bedroom apartments average $2,110/mo and 3-bedroom units go for $3,170/mo.
At 16% of local median household income ($190,060/yr), Lakeway ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.
Frequently asked questions
How much income do you need to rent in Lakeway?
Is rent going up or down in Lakeway?
How does Lakeway rent compare to other cities in Texas?
Which nearby cities are cheaper to rent in than Lakeway?
At $2,603/mo, rent takes ~16% of Lakeway's median household income ($190,060/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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