ZIP Code · TX

ZIP 78724

Part of Austin, TX

Pop. 31,103·Travis County·348th most expensive ZIP in Texas

Median rent (all units)

$1,581/mo

Year-over-Year

+2.8%

Month-over-Month

+0.9%

vs US Median

-$351

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 78724 · $1,581

More affordable than 67% 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

$1,400

1 BR

$1,490

2 BR

$1,760

3 BR

$2,240

4 BR+

$2,600

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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 78724 is 7.2% below its high of $1,704 in April 2023, at $1,581 as of September 2026.

Past year vs. the rest of Texas

Rent in ZIP 78724 changed +2.8% over the year to September 2026. Across the 629 Texas ZIP codes Zillow tracks, the typical change was +1.2%.

Recent direction

Rent has risen 3 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($77,926) is $1,948 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,760); a 3-bedroom is $2,240.

Rank in Austin

16th cheapest of 37 ZIP codes in Austin.

Cheaper nearby

ZIP 78754, 5 miles away, rents for 10% less ($1,416/mo), about $2,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 78724. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,972/yr

At $1,581/mo median

Location

CityAustin

StateTX

CountyTravis County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.8% YoY, +0.9% MoM), not inventory.

Demographics

Who lives here

ZIP 78724 (Austin, TX) is majority owner-occupied, has a large share of families with children, 31.6% of residents hold a bachelor's degree or higher.

Population

31,103

Median income

$77,926

Median age

32.2

Renters

39.4%

Age distribution

29%

25.8%

29%

Under 1829%

18–3425.8%

35–5429%

55–6410.2%

65+5.9%

Gender

53.9%

46.1%

Male53.9%

Female46.1%

Race & ethnicity

28.5%

19%

58.6%

White28.5%

Black19%

Hispanic58.6%

Asian2.3%

Education (25+)

21.5%

25.4%

31.6%

No HS diploma21.5%

HS diploma21.5%

Some college25.4%

Bachelor's+31.6%

Housing tenure

60.6%

39.4%

Owner60.6%

Renter39.4%

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

2023 vs 2026

How ZIP 78724 in Austin, TX has changed in 5 years

Rent

$1,704 → $1,581

down 7.2%

Income

$58,631 → $77,926

up 32.9%

Population

25,936 → 31,103

up 19.9%

Renter share

33% → 39.4%

+6.4 pts

Bachelor's+

20.1% → 31.6%

+11.5 pts

Median age

30.5 → 32.2

+1.7 yrs

Five years ago, renters in ZIP 78724 in Austin, TX paid around $1,704 a month. That figure now sits near $1,581, down 7.2% from the 2023 baseline. Local incomes tracked alongside that move, going from a median of $58,631 in 2021 to $77,926 more recently. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 78724 in Austin, TX adding about 5,167 residents over the five-year window, up 19.9% on net. The renter share has risen from 33% to 39.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 20.1% to 31.6% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 78724 in Austin, TX market of 2023.

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About renting in ZIP 78724

Last updated: October 17, 2026

ZIP code 78724 covers Austin, TX. The median rent here is $1,581/mo as of October 2026. A 1-bedroom rents for a median of $1,490/mo. A 2-bedroom rents for a median of $1,760/mo.

At 24% of local median household income ($77,926/yr), ZIP 78724 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 78724?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (about $30/hour full-time) to afford the median rent of $1,581/mo in ZIP 78724. The local median household income is $77,926/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 78724?

Rent in ZIP 78724 has risen 2.8% over the past year as of September 2026. It sits 7.2% below its high of $1,704 in April 2023.

How does ZIP 78724 compare to other ZIPs in Texas?

ZIP 78724 is in the middle among Texas ZIP codes for rent, ranking #348 of 693 at $1,581/mo. Over the year to September 2026, rent in ZIP 78724 changed +2.8%, against a typical +1.2% across the 629 Texas ZIP codes Zillow tracks.