Cedar Park Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Cedar Park, TX. Currently, the overall median rent in the city stands at $1,575, after falling 1.1% last month. Prices are now down 7.6% year-over-year. Read on to learn more about what’s been happening in the Cedar Park rental market and how it compares to trends throughout the broader Austin metro area and the nation as a whole.

Cedar Park rents are down 1.1% month-over-month and down 7.6% year-over-year

The median rent in Cedar Park fell by 1.1% over the course of April, and has now decreased by a total of 7.6% over the past 12 months. Cedar Park’s rent growth over the past year has has fallen behind both the state (-2.7%) and national averages (-0.8%).

Cedar Park rent growth in 2024 pacing below last year

Four months into the year, rents in Cedar Park have fallen 2.6%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 1.0%.

Cedar Park rents are 9.2% higher than the metro-wide median

If we expand our view to the wider Austin metro area, the median rent is $1,442 meaning that the median price in Cedar Park ($1,575) is 9.2% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -7.4%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 9 cities in the Austin metro area that are included in our database. Among them, Leander is currently the most expensive, with a median rent of $1,640. San Marcos is the metro’s most affordable city, with a median rent of $1,204. The metro's fastest annual rent growth is occurring in San Marcos (-2.6%) while the slowest is in Round Rock (-10.3%).

You can also use the map below to explore the latest rent trends in the Austin metropolitan area.