How much does it cost to rent in Lakeway, TX?

As of August 2026, the median monthly rent in Lakeway, TX is $2,680. This figure is based on aggregated data from public sources and community-submitted rents.

Is Lakeway cheaper than other Texas cities?

Lakeway is one of the pricier cities in Texas, ranking #6 out of 267 cities tracked at $2,680/mo.

When was Lakeway rent data last updated?

Lakeway rent data reflects August 2026 and was last refreshed on August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.

What is the Fair Market Rent in Lakeway, TX?

HUD sets the Fair Market Rent for a two-bedroom home in Lakeway, TX at $2,490 per month, which is 7% below the $2,680 market median. Fair Market Rent is the Housing Choice Voucher (Section 8) payment standard. It is a 40th-percentile gross rent that includes essential utilities such as electricity, water, gas, sewer, and trash, and HUD updates it once a year, so it measures something different from current market asking rent.

City Report · TX

Lakeway

Name: Average Rent Prices in Lakeway, TX
Creator: RentDataNow
License: https://creativecommons.org/licenses/by/4.0/

Pop. 19,307·6th most expensive in Texas·Lakeway rents are up 19.4% over the past year

Median rent (all units)

$2,680/mo

Year-over-Year

+19.4%

Month-over-Month

-3.7%

vs US Median

+$718

Falling (Monthly)

Be the first to discuss Lakeway rents ↓

Most AffordableMost Expensive

Lakeway · $2,680

More expensive than 84% of US cities · National median $1,962/mo

Rent Reality Score

13/100

Overheated

OverheatedFairGreat value

Rents are 19% above what Lakeway's 10-year trend predicts — running hotter than its own history.

Actual rent

$2,680/mo

Expected by trend

$2,262/mo

The Rent Reality Score compares today's median rent to where Lakeway's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,980

1 BR

$2,110

2 BR

$2,490

3 BR

$3,170

4 BR+

$3,680

Fair Market Rent (HUD)

$2,490/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,680 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 →

Rent trends

12-month history

Loading…

Last updated: August 17, 2026

Annual cost

$32,160/yr

At $2,680/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 19.4% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+19.4% YoY, -3.7% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population

19,307

Median income

$190,060

Median age

49.8

Renters

13.7%

Age distribution

22.5%

29.7%

16.1%

23%

Under 1822.5%

18–348.8%

35–5429.7%

55–6416.1%

65+23%

Gender

49.8%

50.2%

Male49.8%

Female50.2%

Race & ethnicity

78.5%

White78.5%

Black1.5%

Hispanic10.8%

Asian6.1%

Other3.2%

Education (25+)

18%

74%

No HS diploma1%

HS diploma7%

Some college18%

Bachelor's+74%

Housing tenure

86.3%

13.7%

Owner86.3%

Renter13.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Lakeway, TX has changed in 5 years

Rent

$2,738 → $2,680

down 2.1%

Income

$142,566 → $190,060

up 33.3%

Population

18,471 → 19,307

up 4.5%

Renter share

16.4% → 13.7%

-2.7 pts

Bachelor's+

71.6% → 74%

+2.4 pts

Median age

49.2 → 49.8

+0.6 yrs

Compared with 2022, rent in Lakeway, TX has declined by $58 per month, settling near $2,680 after starting the period at $2,738. Census figures show median household income at $190,060 today, compared with $142,566 five years earlier. Income growth outran rent by about 35.4 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.

Community

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View Lakeway rent history (2015–2026) →

Salary vs rent

Can you afford rent in Lakeway on your salary?

At $2,680/mo, how Lakeway rent compares to typical pay (30% rule).

Registered Nurse

Avg $93,535/yr · Rent = 34.4% income

stretched

Elementary School Teacher

Avg $66,409/yr · Rent = 48.4% income

rent-burdened

Police Officer

Avg $76,497/yr · Rent = 42% income

rent-burdened

Software Developer

Avg $136,729/yr · Rent = 23.5% income

affordable

Lawyer

Avg $174,705/yr · Rent = 18.4% income

very comfortable

Firefighter

Avg $62,182/yr · Rent = 51.7% income

severely rent-burdened

Truck Driver

Avg $56,143/yr · Rent = 57.3% income

severely rent-burdened

Electrician

Avg $69,201/yr · Rent = 46.5% income

rent-burdened

By apartment size

Lakeway rent by bedroom count

Median rent for each apartment size in Lakeway. Click any size for full breakdown.

Local insights

Tips for renters in Lakeway

About renting in Lakeway, TX

Last updated: August 17, 2026

The median rent in Lakeway is $2,680/mo as of August 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 17% of local median household income ($190,060/yr), Lakeway ranks as affordable compared to the national benchmark of 30%. Rents have increased 19.4% over the past year.

FAQ

Frequently asked questions

Is Lakeway an affordable city for renters?

Lakeway is considered very affordable for renters. At $2,680/mo, rent takes approximately 17% of the local median household income ($190,060/yr). The standard benchmark is 30%. Lakeway falls comfortably within that range.

How much income do you need to rent in Lakeway?

To keep rent at or below 30% of gross income, you would need to earn at least $107,000/year (~$51/hour full-time) to afford the median rent of $2,680/mo in Lakeway. The local median household income is $190,060/yr, meaning the typical Lakeway household meets that threshold.

Is rent going up or down in Lakeway?

Rent in Lakeway has increased 19.4% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Lakeway rent compare to other cities in Texas?

Lakeway is one of the pricier cities in Texas for rent, ranking #6 out of 267 tracked cities at $2,680/mo.

Which nearby cities are cheaper to rent in than Lakeway?

Several nearby cities have lower median rents than Lakeway ($2,680/mo): Cedar Park ($1,728/mo), Leander ($1,922/mo), Anderson Mill ($1,981/mo).

What percentage of Lakeway residents rent vs. own?

According to Census data, approximately 13.7% of Lakeway households are renters, while 86.3% are owner-occupied. Lakeway leans toward homeownership, which can mean a smaller rental inventory.