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ZIP Code · TX

ZIP 78723

Part of Austin, TX
Pop. 38,129·Travis County·157th most expensive ZIP in Texas
Median rent (all units)
$1,851/mo
Year-over-Year
+0.2%
Month-over-Month
-0.8%
vs US Median
-$114
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 78723 · $1,851
More expensive than 52% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,400
1 BR
$1,490
2 BR
$1,760
3 BR
$2,240
4 BR+
$2,620
Research median
$1,760/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: July 20, 2026

Annual cost
$22,212/yr
At $1,851/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 (+0.2% YoY, -0.8% MoM), not inventory.
Demographics

Who lives here

ZIP 78723 (Austin, TX) is roughly split between renters and owners, has a median income above the national average, 58.4% of residents hold a bachelor's degree or higher.

Population
38,129
Median income
$100,329
Median age
34.8
Renters
51.4%
Age distribution
22.6%
27.8%
31%
Under 1822.6%
18–3427.8%
35–5431%
55–646.9%
65+11.6%
Gender
51%
49%
Male51%
Female49%
Race & ethnicity
50.3%
36.8%
White50.3%
Black9.8%
Hispanic36.8%
Asian5.1%
Education (25+)
13.6%
17.6%
58.4%
No HS diploma10.4%
HS diploma13.6%
Some college17.6%
Bachelor's+58.4%
Housing tenure
48.6%
51.4%
Owner48.6%
Renter51.4%

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

2021 vs 2026

How ZIP 78723 in Austin, TX has changed in 5 years

Rent
$1,598 → $1,851
up 15.8%
Income
$76,535 → $100,329
up 31.1%
Population
36,114 → 38,129
up 5.6%
Renter share
51.3% → 51.4%
+0.1 pts
Bachelor's+
50.8% → 58.4%
+7.6 pts
Median age
35.4 → 34.8
-0.6 yrs

The median rent in ZIP 78723 in Austin, TX stood at $1,598 in 2021 and currently runs about $1,851, reflecting a 15.8% increase over the period. Local incomes tracked alongside that move, going from a median of $76,535 in 2021 to $100,329 more recently. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 5.6% since 2021, moving from about 36,114 residents to roughly 38,129. College-educated residents now make up 58.4% of adults here, versus 50.8% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 78723 in Austin, TX market of 2021.

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Local insights

Tips for renters in ZIP 78723

About renting in ZIP 78723

Last updated: July 20, 2026

ZIP code 78723 covers Austin, TX. The median rent here is $1,851/mo as of July 2026. A 1-bedroom rents for a median of $1,490/mo. A 2-bedroom rents for a median of $1,760/mo.

At 22% of local median household income ($100,329/yr), ZIP 78723 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 78723?

As of July 20, 2026, the median monthly rent in ZIP 78723 (Austin, TX) is $1,851. This is based on aggregated data from public sources and community submissions.

How does ZIP 78723 rent compare to the US average?

ZIP 78723's median rent of $1,851/mo is $114 (6%) below the US national median of $1,965/mo.

How does ZIP 78723 compare to other ZIPs in Texas?

ZIP 78723 is one of the pricier ZIP codes in Texas, ranking #157 out of 689 ZIPs tracked at $1,851/mo.

How much income do you need to rent in ZIP 78723?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (~$36/hour full-time) to afford the median rent of $1,851/mo in ZIP 78723. The local median household income is $100,329/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 78723?

Rent in ZIP 78723 has been relatively stable over the past year, with a 0.2% change year over year as of July 20, 2026.

Is ZIP 78723 an affordable place to rent?

ZIP 78723 is considered very affordable for renters. At $1,851/mo, rent takes approximately 22% of the local median household income ($100,329/yr). The standard benchmark is 30%. ZIP 78723 falls comfortably within that range.

What percentage of ZIP 78723 residents rent vs. own?

According to Census data, approximately 51.4% of ZIP 78723 households are renters, while 48.6% are owner-occupied. With a majority renter population, ZIP 78723 has a strong rental market.

How does ZIP 78723 compare to the rest of Austin?

ZIP 78723 is pricier than Austin as a whole. At $1,851/mo, it's $236 above the Austin citywide median of $1,615/mo.

When was rent data for ZIP 78723 last updated?

Rent data for ZIP 78723 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $1,851/mo, rent takes ~22% of ZIP 78723's median household income ($100,329/yr). The standard benchmark is 30%.

ZIP 78723 22%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 78723 (Austin, TX)

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