ZIP Code · TX

ZIP 78721

Part of Austin, TX

Pop. 10,997·Travis County·199th most expensive ZIP in Texas

Median rent (all units)

$1,782/mo

Year-over-Year

-0.9%

Month-over-Month

+0.2%

vs US Median

-$150

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 78721 · $1,782

More affordable than 52% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,510

1 BR

$1,600

2 BR

$1,900

3 BR

$2,410

4 BR+

$2,830

Research median

$1,900/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 78721 is 10.1% below its high of $1,983 in July 2022, at $1,782 as of September 2026.

Past year vs. the rest of Texas

Rent in ZIP 78721 changed -0.9% over the year to September 2026. Across the 629 Texas ZIP codes Zillow tracks, the typical change was +1.2%.

Recent direction

Rent rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($84,573) is $2,114 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,900); a 3-bedroom is $2,410.

Rank in Austin

25th cheapest of 37 ZIP codes in Austin.

Cheaper nearby

ZIP 78741, 3 miles away, rents for 23% less ($1,367/mo), about $5,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 78721. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,384/yr

At $1,782/mo median

Location

CityAustin

StateTX

CountyTravis 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 (-0.9% YoY, +0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 78721 (Austin, TX) is roughly split between renters and owners, skews toward younger working-age adults, 51.6% of residents hold a bachelor's degree or higher.

Population

10,997

Median income

$84,573

Median age

33.8

Renters

48.7%

Age distribution

20.8%

34.2%

26.8%

Under 1820.8%

18–3434.2%

35–5426.8%

55–649.5%

65+8.6%

Gender

46%

54%

Male46%

Female54%

Race & ethnicity

43.7%

17.4%

38.8%

White43.7%

Black17.4%

Hispanic38.8%

Asian3%

Education (25+)

15.2%

18.6%

14.7%

51.6%

No HS diploma15.2%

HS diploma18.6%

Some college14.7%

Bachelor's+51.6%

Housing tenure

51.3%

48.7%

Owner51.3%

Renter48.7%

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

2022 vs 2026

How ZIP 78721 in Austin, TX has changed in 5 years

Rent

$1,894 → $1,782

down 5.9%

Income

$61,462 → $84,573

up 37.6%

Population

10,728 → 10,997

up 2.5%

Renter share

46.4% → 48.7%

+2.3 pts

Bachelor's+

43.9% → 51.6%

+7.7 pts

Median age

34.3 → 33.8

-0.5 yrs

The median rent in ZIP 78721 in Austin, TX stood at $1,894 in 2022 and currently runs about $1,782, reflecting a 5.9% decrease over the period. Median household income rose from $61,462 to $84,573 between 2021 and 2024, a 37.6% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 2.5% since 2021, moving from about 10,728 residents to roughly 10,997. Renters now make up 48.7% of households, compared with 46.4% five years ago. College-educated residents now make up 51.6% of adults here, versus 43.9% in 2021. Taken together, the five-year picture in ZIP 78721 in Austin, 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 78721

Last updated: October 17, 2026

ZIP code 78721 covers Austin, TX. The median rent here is $1,782/mo as of October 2026. A 1-bedroom rents for a median of $1,600/mo. A 2-bedroom rents for a median of $1,900/mo.

At 25% of local median household income ($84,573/yr), ZIP 78721 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 78721?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (about $34/hour full-time) to afford the median rent of $1,782/mo in ZIP 78721. The local median household income is $84,573/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 78721?

Rent in ZIP 78721 has fallen 0.9% over the past year as of September 2026. It sits 10.1% below its high of $1,983 in July 2022.

How does ZIP 78721 compare to other ZIPs in Texas?

ZIP 78721 is one of the pricier among Texas ZIP codes for rent, ranking #199 of 693 at $1,782/mo. Over the year to September 2026, rent in ZIP 78721 changed -0.9%, against a typical +1.2% across the 629 Texas ZIP codes Zillow tracks.