ZIP Code · TX

ZIP 78620

Part of Dripping Springs, TX

Pop. 22,860·Hays County·64th most expensive ZIP in Texas

Median rent (all units)

$2,088/mo

Year-over-Year

+1.5%

Month-over-Month

-1.1%

vs US Median

+$156

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 78620 · $2,088

More expensive than 66% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,470

1 BR

$1,560

2 BR

$1,850

3 BR

$2,350

4 BR+

$2,760

Research median

$1,850/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 78620 is 1.2% below its high of $2,113 in July 2026, at $2,088 as of September 2026.

Past year vs. the rest of Texas

Rent in ZIP 78620 changed +1.5% over the year to September 2026. Across the 629 Texas ZIP codes Zillow tracks, the typical change was +1.2%.

Recent direction

Rent has fallen 2 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($153,477) is $3,837 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,760).

From Zillow's monthly rent index (ZORI) for ZIP 78620. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,056/yr

At $2,088/mo median

Location

CityDripping Springs

StateTX

CountyHays County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+1.5% YoY, -1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 78620 (Dripping Springs, TX) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 66.7% of residents hold a bachelor's degree or higher.

Population

22,860

Median income

$153,477

Median age

42.7

Renters

14.1%

Age distribution

26.5%

12.8%

31.5%

13.1%

16.1%

Under 1826.5%

18–3412.8%

35–5431.5%

55–6413.1%

65+16.1%

Gender

49.5%

50.5%

Male49.5%

Female50.5%

Race & ethnicity

79.9%

12.8%

White79.9%

Black0.7%

Hispanic12.8%

Asian3.6%

Other2.9%

Education (25+)

19.9%

66.7%

No HS diploma2.6%

HS diploma10.8%

Some college19.9%

Bachelor's+66.7%

Housing tenure

85.9%

14.1%

Owner85.9%

Renter14.1%

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

2023 vs 2026

How ZIP 78620 in Dripping Springs, TX has changed in 5 years

Rent

$2,056 → $2,088

up 1.6%

Income

$118,145 → $153,477

up 29.9%

Population

18,564 → 22,860

up 23.1%

Renter share

14.6% → 14.1%

-0.5 pts

Bachelor's+

53.1% → 66.7%

+13.6 pts

Median age

42 → 42.7

+0.7 yrs

Compared with 2023, rent in ZIP 78620 in Dripping Springs, TX has increased by $32 per month, settling near $2,088 after starting the period at $2,056. Median household income grew from $118,145 to $153,477 between 2021 and 2024, a 29.9% shift. Income growth outran rent by about 28.3 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 18,564 to 22,860 between 2021 and 2024, a 23.1% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 53.1% to 66.7%. Taken together, the five-year picture in ZIP 78620 in Dripping Springs, TX reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 78620

Last updated: October 17, 2026

ZIP code 78620 covers Dripping Springs, TX. The median rent here is $2,088/mo as of October 2026. A 1-bedroom rents for a median of $1,560/mo. A 2-bedroom rents for a median of $1,850/mo.

At 16% of local median household income ($153,477/yr), ZIP 78620 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 78620?

To keep rent at or below 30% of gross income, you would need to earn at least $84,000/year (about $40/hour full-time) to afford the median rent of $2,088/mo in ZIP 78620. The local median household income is $153,477/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 78620?

Rent in ZIP 78620 has risen 1.5% over the past year as of September 2026. It sits 1.2% below its high of $2,113 in July 2026.

How does ZIP 78620 compare to other ZIPs in Texas?

ZIP 78620 is one of the pricier among Texas ZIP codes for rent, ranking #64 of 693 at $2,088/mo. Over the year to September 2026, rent in ZIP 78620 changed +1.5%, against a typical +1.2% across the 629 Texas ZIP codes Zillow tracks.