ZIP Code · TX

ZIP 78734

Part of Lakeway, TX

Pop. 22,145·Travis County·8th most expensive ZIP in Texas

Median rent (all units)

$2,787/mo

Year-over-Year

+4.8%

Month-over-Month

+1.0%

vs US Median

+$855

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 78734 · $2,787

More expensive than 86% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,830

1 BR

$1,940

2 BR

$2,300

3 BR

$2,910

4 BR+

$3,430

Research median

$2,300/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 78734 is at its highest level since Zillow's records here began in October 2022.

Past year vs. the rest of Texas

Rent in ZIP 78734 changed +4.9% 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 4 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($130,784) is $3,270 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,910); a 4-bedroom is $3,430.

Cheaper nearby

ZIP 78732, 3 miles away, rents for 27% less ($2,047/mo), about $8,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 78734. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$33,444/yr

At $2,787/mo median

Location

CityLakeway

StateTX

CountyTravis County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 4.8% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+4.8% YoY, +1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 78734 (Lakeway, TX) is majority owner-occupied, has a large retiree population, has a median income above the national average, 59.1% of residents hold a bachelor's degree or higher.

Population

22,145

Median income

$130,784

Median age

Renters

16.5%

Age distribution

18.6%

30.6%

16.5%

22.6%

Under 1818.6%

18–3411.6%

35–5430.6%

55–6416.5%

65+22.6%

Gender

52.6%

47.4%

Male52.6%

Female47.4%

Race & ethnicity

75.3%

18%

White75.3%

Black1.8%

Hispanic18%

Asian3.8%

Other1.1%

Education (25+)

24.3%

59.1%

No HS diploma6.7%

HS diploma9.9%

Some college24.3%

Bachelor's+59.1%

Housing tenure

83.5%

16.5%

Owner83.5%

Renter16.5%

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

2023 vs 2026

How ZIP 78734 in Lakeway, TX has changed in 5 years

Rent

$2,627 → $2,787

up 6.1%

Income

$116,955 → $130,784

up 11.8%

Population

21,625 → 22,145

up 2.4%

Renter share

18.9% → 16.5%

-2.4 pts

Bachelor's+

60% → 59.1%

-0.9 pts

Across the past five years, the going rent in ZIP 78734 in Lakeway, TX has shifted from $2,627 to $2,787, up 6.1% since 2023. Census figures show median household income at $130,784 today, compared with $116,955 five years earlier. 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 78734 in Lakeway, TX adding about 520 residents over the five-year window, up 2.4% on net. The renter share has eased from 18.9% to 16.5%, with owner-occupied housing accounting for the remainder. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.

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About renting in ZIP 78734

Last updated: October 17, 2026

ZIP code 78734 covers Lakeway, TX. The median rent here is $2,787/mo as of October 2026. A 1-bedroom rents for a median of $1,940/mo. A 2-bedroom rents for a median of $2,300/mo.

At 26% of local median household income ($130,784/yr), ZIP 78734 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 78734?

To keep rent at or below 30% of gross income, you would need to earn at least $111,000/year (about $53/hour full-time) to afford the median rent of $2,787/mo in ZIP 78734. The local median household income is $130,784/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 78734?

Rent in ZIP 78734 has risen 4.8% over the past year as of September 2026. That is the highest level since Zillow's records here began in October 2022.

How does ZIP 78734 compare to other ZIPs in Texas?

ZIP 78734 is one of the pricier among Texas ZIP codes for rent, ranking #8 of 693 at $2,787/mo. Over the year to September 2026, rent in ZIP 78734 changed +4.9%, against a typical +1.2% across the 629 Texas ZIP codes Zillow tracks.