Tips For Landlord Insurance

Being a landlord is more than just paying a mortgage and collecting rent. You’re operating a business and you’ll want to protect yourself the same way any other business protects itself from potential liability. It’s a cost to consider when deciding how much you need to charge for rent so plan accordingly. Here are some tips when looking for landlord insurance: 

Why landlord insurance is required

So you decided to become a landlord but your current home insurance isn’t enough. Why is that? This is because your homeowner’s insurance only covers the home when you are living in it. It won’t cover your tenants and many municipalities and states require landlord insurance in order to do business. If there’s damage to the property or someone were to get injured on your property, you want to make sure you are covered for any potential liabilities that may put your entire investment at risk. 

What does landlord insurance do?

What exactly does landlord insurance cover? First, you need to remember that when you become a landlord, you are becoming a business. Just like any other business, you want to protect yourself from any unforeseen misfortunes. This includes property damage. Landlord insurance covers all kinds of damage. It can be natural or accidental damage. It can be from vandalism. Any kind of damage you can think of. 

There’s also a loss of income/rental default insurance. This can help protect you in the unfortunate circumstance where your rental property becomes uninhabitable for any reason. This feature will cover any rent you cannot collect over a short period of time because of the damage to the property.

Landlord insurance will also cover any injuries that happen on your property. This will protect you if a tenant gets injured on the property or even a guest they may have over. This will protect you if these injuries are caused by any maintenance issues, for example, if something collapses on the property. 

Options to consider

When it comes to picking the policy that is best for you, you’ll also want to look into any add-ons that may address any additional coverage you need. One example is guaranteed income insurance. This can help protect your cash flow by making up for rent if a tenant comes up short. 

Flood insurance is one that ultimately may be required depending on where you live. If you live in a floodplain or an area where there are severe storms, you might want to consider getting flood insurance. 

Additional construction expenses are a great option if you are renting out an older property that may need to be brought up to code. While plenty of older properties are covered by a grandfather clause, that may not always be the case, especially if it comes to health and safety issues.  

What are the costs?

There’s no way to know how much landlord insurance is going to cost when it comes to your specific property. There are a variety of factors that come into play when calculating the cost. Some of these factors are the location and the age of the property. When you are budgeting or considering becoming a landlord, this will be a cost you want to consider to make sure leasing your property will be profitable.

Helpful Tax Tips For Landlords

Managing a rental property, especially if it isn’t your primary source of income, can be difficult and complex. Over time, you’ll learn more tricks of the trade, and some of those that are important to learn how to properly file your taxes as a landlord. This isn’t professional advice, and it is recommended to seek out professional help to assist you with the process. Here are a few tips on filing your taxes: 

Don’t forget your home office

Even if being a landlord isn’t your primary source of income, it is still a business and should be treated as such. This means that your home office space where your work can be used as a tax write-off. There are some rules in regards to how much office space you can write off, but the space must be a dedicated space for working. How much you write off can be based on the number of rooms or the square footage of your office space. 

Keep track of your mileage 

Managing and owning a rental property can require a lot of driving. You’re constantly needing to pick up supplies, show the property to potential tenants, pick up rent checks, and resolve any other issues on site. Make sure you keep track of all your mileage used on your personal vehicle when working because that can be deducted against the rental revenue from your property.

Be careful of recapture

If your rental property is in an area with increasing property values, you should be mindful of recapture. The tax code allows you to expense the cost of purchasing your rental property building but not the land over a number of years through depreciation.  This expense can help lower your taxable rental income significantly. What you need to be aware of is that if you sell the property for more than the depreciated value, you might need to pay some or all of that back after the sale. 

Repairs and improvements

Repairs are anything that returns the property to its original condition. This means that you put in new doorknobs or repair a broken window and any other routine maintenance that keeps the property in the same state. Maintenance costs can be expensed for the calendar year. 

Improvements are a little different and more complex. Improvements are anything that improves the value of your property over the long term. This is anything from adding an additional room to solar panels, or a new roof. These improvements can be capitalized and expensed over a number of years through depreciation. 

When it comes to running a business, you want to make sure you’re doing everything the right way in order to protect yourself from any liability. This means you may consider hiring a lawyer to draft your rental leases or assist with any evictions. It would also be wise to hire an accountant to handle any financial issues like long-term financial planning and filing taxes. The cost of hiring these professionals can be expensed.

5 Texas Cities Where Rent Is Increasing Fast

The state of Texas as a whole is one of the fastest-growing states in the country. While the state grows as a whole, various cities are growing at different paces. The growth depends on a variety of factors. It could be due to economic opportunity, location, and affordability. As these cities grow and the demand for housing increases, the rent increases as well. The rent increases depend on both the current housing supply as well as housing construction. Here are 5 cities in Texas where rent is increasing the fastest: 

Austin

Austin has long been one of the fastest-growing cities in Texas as well as one of the most popular tourist destinations in the state. Demand for housing has always been high in part because of the number of college students throughout the city. The growing start-up industry has generated a lot of high-paying jobs which has contributed to the rapid rise in rent. 

The year-to-year increase in the city for a one-bedroom is 32% while the year-to-year for a two-bedroom has increased by 17%. One reason for the increase in rent is the population growing from 709k to just over a million residents since 2010. The supply of housing has been unable to keep pace with the demand and unless construction of new housing increases, the trend will continue. 

El Paso

Since 2010 the population of El Paso has gone from 649k thousand residents all the way up to 679 thousand. Because of the population growth, the city has seen rents increase year over year dramatically. While it isn’t one of the fastest-growing cities in the state, the low supply of housing has contributed to the rapid increase in average rent. The year-over-year rent increase for a one-bedroom home is 23% while the increase for a two-bedroom is 15.5%. Without any changes in housing construction, expect rent increases to move in the same direction. 

Arlington

According to the census in 2020, the population of Arlington is 394 thousand. That’s up from 265 thousand residents in 2010. The increase in the population has also increased the demand for housing which has pushed the average rent up 13.8% for a one-bedroom over the last few years. It has also seen the average rent for a two-bedroom home increase at about the same pace at 13.1%. As demand for housing increases statewide, residents will continue to go where the homes are available making cities like Arlington popular places to move. 

Plano

While the largest cities in Texas grab all the headlines when it comes to growth, it’s the midsize cities like Plano that have been increasing their populations and rents at a faster pace. Since 2010, the population has increased by 28 thousand residents going from 260 thousand, up to 286 thousand. The year-over-year rent increases have shot up as well, especially for one-bedroom homes where the average rent has increased 24%. Two-bedroom rents have increased rapidly as well, though not as much as one bedroom. Two bedrooms increased by 14.7% in the same time frame. 

Irving

Similar to Plano, Irving is another midsize city that has seen a large population increase. Since 2010 the population went up by 41 thousand residents from 216 thousand to 257 thousand. Also similar to Plano, the rent for a one-bedroom in Irving has gone up dramatically year over year by 24.5%.  Two bedrooms on the other hand have increased their average rent at a slower pace by 11.8% year over year. 

6 Renovations To Reduce Maintenance Costs

By Ryan Shure

Homeowners often have a lot of maintenance costs to upkeep the home and property, especially with older homes. It can be of great benefit in the long run to make some renovations that will cut down on maintenance costs. Here are some durable renovation projects that will reduce maintenance costs down the line. 

1. Swap Out Old Siding

Though many homeowners don’t think about the siding on their house, siding can actually be a big contributor to maintenance costs since it often has to be repaired and cleaned due to the environment. 

One great alternative to most siding options is steel lap siding. Steel lap siding can drastically reduce maintenance costs over time especially compared to traditional vinyl, wood, and aluminum siding. This is because steel thrives in nearly any environment. Harsh weather conditions are no match for steel which means that it requires fewer repairs and can be cleaned with a quick pressure washing. 

Swap out your old siding and upgrade to steel lap siding as your next renovation project to save on maintenance costs.  It comes in multiple colors so you can get the look you want. 

2. Take Control of Flooring

Floors take a lot of abuse in any home but that can be tenfold if you have renters. One durable home renovation project you should consider is replacing your flooring. There are several durable flooring options including faux hardwood, tile, and stained concrete. 

Each of these is great for different reasons, but they are all durable. Faux hardwood flooring has the benefit of being affordable, easy to clean, and matches a variety of interior designs. Tiling is highly customizable. It can be laid in any pattern and there are endless combinations of designs, colors, and sizes. Stained concrete provides a uniform look and has ultimate durability. 

Replacing your flooring with one of these options is a great place to start when reducing your home maintenance costs.

3. Redeem Your Roof

Roofing maintenance and repairs are costly especially if you own a home in an area with rough weather conditions like snow or thunderstorms. Roofs are one of the hardest maintenance projects to keep up with as you often have to hire professionals for every repair. 

During your next home renovation project, replace your roof with a more durable alternative. Slate roof tiles are an excellent choice over traditional asphalt shingles. They are far more durable and will need to be repaired less often. Slate roof tiles may cost more upfront, but you will have far fewer maintenance costs in future years.

4. Eliminate Garage Door Costs

The garage door is another item homeowners rarely think about. However, garage door replacement costs can get crazy, but it is part of the maintenance of a home. Reduce your garage door maintenance costs by upgrading your garage door to a heavy-duty steel garage with a powerful motor during your next renovation project. It will be far less likely to require repairs or costly maintenance.

5. Seal Off From the Environment

One thing that can skyrocket maintenance costs is the environment seeping into the interior of a home. For instance, water and termite damage are costly repairs that are vital to maintaining a home. The best way to prevent these unnecessary maintenance costs is to replace and fortify all seals, doors, and windows during your next home renovation. 

Ensure there are no gaps around doors and windows and they all shut and seal properly. If not, choose a durable epoxy or silicone sealant so no weather can be let in. It is important to also check grout lines and seals around tubs, showers and sinks to keep water where it is supposed to be and prevent damage and future repairs.

6. Prevention with Landscaping

Landscaping can be expensive. Not only do you have the cost of maintaining the landscaping itself for curb appeal, but it can also cause damage to the house. For instance, trees too close to the house can fall and bushes along the foundation can rub over time or even create mold. There are ways to landscape that can reduce maintenance costs. 

Many people choose to go with mulch around their house and while it does look good, it can attract more insects like termites and has to be replaced frequently due to washing away and fading racking up the cost. 

Consider moving the landscaping a couple of feet from the foundation of the house and trim any trees short that hang over the house. This will prevent the landscaping from causing undue damage to the house itself. 

Finally, you should look into xeriscaping, which is landscaping that not only uses less water but essentially maintains itself which gets rid of landscape maintenance costs over time. 

Don’t Want To Maintain Your Property Yourself? 

Maintaining homes and properties yourself can be difficult and take up a lot of time, especially if you have multiple properties or don’t live where you own. ZipRent can help. They provide professional property management and will even find and manage tenants for you. Skip the hassle and let ZipRent do it all for you. Contact them today to learn more!

Ryan Shure is an editor for the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value. 

5 Indoor Plants That Improve Air Quality

The quality of the air in your home can be impacted by a number of things. Toxins can be introduced through construction materials, furniture, and other objects in the home. If you live on a busy street, the quality of the air can also be impacted by the traffic nearby. While it’s most likely the level of toxins is too low to have any impact on your health, the quality of air can impact your focus and productivity

If you’re renting or if you’re a landlord, you can use an air-quality monitor to check the toxins in the home as well as their levels. While electric air filters can remove toxins from the air and improve air quality, house plants offer a passive way to remove toxins while also improving oxygen levels and aesthetics. Here are some of the most efficient plants for improving indoor air quality:

The Areca Palm 

By KENPEI – KENPEI’s photo, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=717261

The Areca Palm is extremely effective at removing indoor toxins xylene and toluene from the air. It has the added benefit of being reasonably low maintenance. It does well with limited sunlight and little watering. The Areca Palm enjoys a humid climate so a bit of moisture in the air will help it thrive.

Bamboo Palm

By Aris riyanto – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=81971998

One of the most common toxins that can be found in a home is formaldehyde which makes the bamboo palm a good choice when it comes to air filtering plants for the home. It is one of the most efficient when it comes to removing formaldehyde. It’s also effective at removing benzene concentrations from the air. The plant also gives off moisture which can help when it comes to growing other plants that requires a more humid environment. The Bamboo Palm is a low-maintenance plant that does well in low light while not requiring much watering.  

Rubber Plant 

By Mokkie – Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=31954353

The Rubber Plant is efficient at removing formaldehyde from the air and it has the added benefit of being able to grow in most temperatures. It can thrive between 60 and 75 degrees and requires moderate sunlight and watering. You can place this plant near a window, keep the soil moist and it’ll help filter the air in your home for a long time. 

Dracaena

By User SeanMack on en.wikipedia – This is an image I took myself using
an Olympus C8080W digital camera., CC BY-SA 3.0,
https://commons.wikimedia.org/w/index.php?curid=1056446

The Dracaena is one of the most efficient plants at removing toxins in the air. It’s most effective when it comes to removing trichloroethylene. It can also remove 78% of benzene in a room within 24 hours. One benefit of the Dracaena is that it is a low-maintenance plant. It doesn’t require direct sunlight or much water. It only needs to be misted on the leaves and soil. 

Peace Lily 

By JJ Harrison (https://www.jjharrison.com.au/) – Own work, CC BY-SA
3.0, https://commons.wikimedia.org/w/index.php?curid=7268669

The Peace Lily filters out a wide variety of toxins that can be found in the air in your home. IT removes alcohols, acetone, benzene, TCE, and formaldehyde. Peace Lilies are low-maintenance house plants and require very little watering. The soil should be kept lightly moist and the plant should be kept in bright, indirectly sunlit areas of your home.

5 Best Places To Live In Houston

Houston is one of the more unique cities in Texas and the country. While Texas has seen a huge population increase over the last decade most of the state has been unable to build enough housing to keep pace with the population boom. Houston has managed to build enough housing capable of handling the influx of over 200,000 residents over the last decade. 

This means landlords in Houston are competing for tenants unlike most cities throughout the country. This dynamic has made it one of the more affordable cities and a popular destination for those who have been priced out of cities like Austin or states like California and New York. While over the last decade housing has kept pace with population growth, it has shown signs of struggling recently.  

River Oaks

While River Oaks is best known for its large estates and mansions, there has been an influx of new and more affordable housing for those looking to take advantage of the great neighborhood. River Oaks is home to the famous landmark River Oaks Theatre and has a wide variety of shopping and entertainment throughout the neighborhood. On top of all of that, it has some of the best and most well-known restaurants in all of Houston. 

Memorial

Memorial is a unique neighborhood because it has a mix of both a suburban and an urban feel. It’s a walkable neighborhood with a wide variety of homes from multifamily units and lots to single-family homes. As far as entertainment goes, there’s a local country club and golf course. There are local shopping centers like Memorial City Mall and the Galleria that provide walkable shopping for locals. There’s also a popular nightlife that’s paired with cafes and restaurants for those who enjoy going out during their time off. 

Museum District

The Museum is best known for its namesake. It’s home to 19 museums and it’s the art and culture center of Houston. It has 445 acres of open public space at Hermann Park which houses an outdoor theater, a golf course, running trains, and plenty of open green space for gatherings and exercise. It’s also a walkable neighborhood for those who like to get out in the open and enjoy the community. 

The Heights

The Heights is a historical district of Houston. It’s known for its beautiful and historic architecture as the community is filled with craftsman, Queen Anne, folk national, and folk victorian style homes. While these older homes fill the neighborhood, there has been an influx of multifamily homes like duplexes and commercial space making it a very walkable area. Within the Heights are plenty of restaurants, antique shops, museums, and local art festivals. While everything a person could need is within the community, it has the added benefit of being just outside of downtown Houston. 

Midtown

Midtown is the neighborhood that is most popular for young professionals. It’s a high-density, walkable community with plenty of affordable options when it comes to housing. It’s a popular place to live for those who enjoy the nightlife and spending time at local bars and restaurants. It’s not just for young professionals though. The local schools are well respected and families and it’s close to downtown and the Texas Medical Center. 

Renter Friendly Peel-And-Stick Décor

The limitations to modifying a rental home can be frustrating. Beyond basic furniture and wall decor, there aren’t many options. Redfin highlighted 12 renter friendly upgrades which is a great starting point when it comes to decorating your rental. One of those recommendations is the peel-and-stick decor. Here are some more in-depth ways to use peel-and-stick products for temporary improvements: 

Countertops

Some kitchen or bathroom countertops in rentals can be outdated, unsightly, or just not match your personal preference. One way to improve the look of your home is to use a peel-and-stick finish. Depending on how old your rental is, there’s a decent chance your countertop may already have some sort of peel-and-stick laminate on it already. 

These peel-and-stick finishes come in a wide variety of styles. They can look like wood finishes, marble, granite, and pretty much any other material imaginable. When selecting a style, you’ll want to make sure the product you purchase is waterproof and meant for kitchen or bathroom countertops. 

Windows

Windows are another useful place to use peel-and-stick. There are many styles designed specifically for windows. These can be used for a variety of reasons. They can be used to create privacy. If you have windows letting in too much sunlight, they can help block some of the light. They can also be used just to change the appearance and add a little flair to your home.

Walls

When it comes to your interior walls, there is a wide variety of peel-and-stick products to be used. There are basic wallpapers that unlike traditional wallpaper can be easily removed. There are also other designs that can create texture and the appearance of other materials like brick, reclaimed wood, and tile. Using the right combinations of these products can help transform an outdated home into a modern, urban loft, a beach cottage, or a farmhouse. The potential is limited only by your imagination. 

Floors

Floors can be a little more tricky. If your rental unit is mostly covered in carpet, you’re basically stuck with the carpet. While there’s nothing that can be done with the carpet, you can still use some peel-and-stick products in the bathroom and the kitchen. You’ll want to make sure the product you’re purchasing is waterproof and designed specifically for bathrooms and kitchens. 

There are a number of materials these products can imitate from marble to various wood finishes and different stone tiles. Placing these over linoleum floors may take a little extra work prior to laying them down so make sure you follow all of the instructions in regards to the floor type they are being placed on. 

Backsplash

One quick and easy way to improve your kitchen and bathroom is to use peel-and-stick backsplashes. These small areas can help give your rental an updated look. A popular look is the subway tiles behind the sink and they can come in a number of peel-and-stick tiles. Look around online and find which style is the best match for your kitchen.

5 Best Neighborhoods In San Antonio

Texas is one of the fastest-growing states in the country. While Austin and Dallas tend to get most of the national attention, San Antonio shouldn’t be ignored. It has grown rapidly along with the rest of the state and is one of the most desirable places to live in the country. 

In 2010, the city had a population of just over 1.3 million residents. Since then it ballooned up to just over 1.5 million residents and it continues to grow at a steady pace. As housing construction hasn’t been able to keep up with the pace of population growth, the competition for housing has become fierce. Personal needs and preferences will help determine what neighborhood is best for you when it comes to living in San Antonio, but here are some of the best options to choose from: 

Terrel Hills

Terrel Hills is one of the more popular neighborhoods for young families in San Antonio. Around one-third of the residents are families while the rest are young professionals and retirees. While the neighborhood is popular with families, it does boast a vibrant nightlife with plenty of bars and restaurants. 

The location is convenient with easy access to downtown San Antonio and the airport. It’s also a walkable community with a number of parks, shops, and restaurants. The high-quality schools in the area is another reason it has become extremely attractive for families. 

Olmos Park

Almost Park is one of the safest neighborhoods in San Antonio. For that reason, it has made it a popular place to live for families as well as young professionals. It has high-quality schools, and great public spaces to gather like Olmost Park, Crockett Park, HemisFair Park, and Manhcke Park. 

While there are plenty of expensive homes and extremely wealthy residents, the neighborhood still has a large number of affordable options, especially for renters. The area has great walkability with cafes and restaurants. It’s also a more quiet area and doesn’t have much nightlife for those who enjoy a more relaxed environment. 

Alamo Heights

Located just ten minutes from downtown San Antonio, Alamo Heights is one of the safest and most desirable places to live in the city. Beyond the appeal of its location, Alamo Heights provides its residents with a number of family-friendly activities. It’s home to the botanical gardens, the local zoo, as well s a number of public spaces and parks to gather with friends and family. 

There are good schools in the neighborhood and while the area doesn’t have much when it comes to bars and nightlife, it does have many family-friendly restaurants and cafes to enjoy. 

Lavaca

Lavaca is a neighborhood with no shortage of options when it comes to entertainment. This is one of the reasons it has become attractive to young professionals. The neighborhood has a vibrant nightlife with a wide variety of restaurants, bars, and live music venues. There’s the Alamodome which hosts conventions, concerts, and sporting events. Other options for live events include Illusions Theater and  Jokester 22 Pub ‘N’ Grub for stand-up comedy. 

The median age of the neighborhood is 34 and there is plenty of entertainment year-round for young professionals. The neighborhood hosts a weekly happy hour as well as a block party every October. It’s a walkable neighborhood with plenty of shopping to go along with the culinary experience of the area. 

Tobin Hill

One of the most walkable and active communities in San Antonio is Tobin Hill. It’s a popular destination and place to live for young professionals who want to enjoy the local nightlife. It’s a revamped neighborhood that is becoming increasingly popular with young professionals. Most of the residents in the neighborhood are renters as opposed to homeowners which means there are more options for those looking to rent. 

A popular bar and restaurant hub in the historic Pearl is packed with galleries, bars, and restaurants and hosts a weekly farmer’s market. There’s also Brackenridge Park for those who want to enjoy the outdoors. Tobin Hill is also conveniently located close to San Antonio College as well as the downtown Riverwalk for those who like to easily explore other parts of the city.

5 Of The Best Neighborhoods In Dallas

Over the last 10 years, Texas has seen its population grow faster than most states in the county. This has happened across the board and while Austin gets most of the attention because of the tech startups and young professionals, Dallas has continued to grow as well. 

In 2010 the population was just under 1.2 million residents and has since increased to 1.33 million. This has put a lot of pressure on the housing supply which hasn’t been able to keep pace with the population growth and housing prices and rents have continued to rise.

A lot can go into where someone would choose to live in Dallas. Some of those factors are affordability, location, walkability, and so on. Here are some of the best neighborhoods in Dallas to choose from: 

University Park

Despite University Park being next to Southern Methodist University, it’s not just a college town. The appeal of the neighborhood is the small neighborhood feel with single-family homes and yards combined with its proximity to Downtown Dallas and all its amenities 

Rent and home prices in the area are on the high end. This has to do with the location and the quality of the public schools in the area. It’s a popular area for families and young professionals who want quiet streets but still want to be close to all the action of the big city. 

Uptown

When it comes to a high-density, walkable neighborhood, Uptown is one of the better neighborhoods in Dallas. When the weather is nice, it’s an area where residents can walk to their favorite coffee shops, bars, and restaurants, and if the humidity is a little too much, you can hop on a streetcar to reach your destination. 

There are high-end boutiques, plenty of parks, and outdoor public spaces along with bike and walking paths and trails throughout the community for anyone who enjoys an active lifestyle. Housing is scarce in the neighborhood and competition is high which has caused rent in the area to increase rapidly. 

Bishop Art District

Just 10 minutes south of Downtown Dallas, the Bishop Art District is the largest art district in the country and has become one of the entertainment destinations in Dallas. It’s a walkable community with colorful alleyways which are covered in murals, art galleries, independently owned shops, restaurants, bars, and cafes. 

This is an ideal neighborhood for those who enjoy spending time away from home and have active social lives. There’s always a unique event or show to experience. There are also plenty of bars in the area for those who want to stay out late and enjoy the after-hours. 

Deep Ellum

Similar to Bishop Art District, Deep Ellum has a deep and thriving nightlife. The area was once known for live music and hosting some of the most famous blues musicians and still has a popular live music scene to this day. 

It’s an urban, high-density neighborhood that is extremely walkable. There is easy access to a wide variety of restaurants, coffee shops, bars, and nightclubs. It’s a great place for those who enjoy a vibrant culture of food, drinks, and live music. 

White Rock

White Rock is a popular neighborhood for those who enjoy the outdoors and a more quiet neighborhood. There are large parks on the lake which allow the residents to spend time with friends and family when the weather is nice. There are also walking and bike paths for those who want to exercise and live a more active lifestyle. 

The area is in high demand and homes along the lake are very expensive. Because of the location and the quality of the schools, the high demand is causing the rent to increase year over year.

5 Great Neighborhoods To Live In Austin

Austin has long been a popular destination for those looking for a new city to live in. This goes for those who are moving in from other parts of Texas, as well as those who are moving from out of state. Over the last year, the average rent in Austin has increased by a 35% far above the national average rent increase of 15.2%. One reason for the increase is the rapid population growth within the Austin Area. In the last year, the population of the Austina area increased by 53 thousand and the housing supply has failed to keep pace. 

The demand for housing has always been steady in Austin because of the local universities combined with great employment opportunities and abundant nightlife, arts, and entertainment throughout the city. The local entertainment from food and drinks to live music is one of the features that has brought both residents and tourists to Austin for years. Here are some of the best neighborhoods in Austin: 

Clarksville

Clarksville is a famous historical neighborhood and desirable neighborhood in Austin. It’s a short drive east to downtown Austin for those who want to go out downtown or need to commute. There are plenty of bars and restaurants to go along with the vibrant nightlife and entertainment. It’s a walkable community, home to the original Whole Foods and the famous Galaxy Cafe. The central location allows for residents to enjoy the urban center of downtown while living in a less densely populated but walkable neighborhood.

Allendale

For those looking for a more suburban feel with a lot of single-family homes, Allendale is the neighborhood for you. There are plenty of neighborhood parks and wide streets like any other suburb even though it is still inside Austin. Like other more densely populated neighborhoods, it is a walkable community with some multifamily homes for those who don’t need all the yard space. Allendale is centrally located and only about a 10 to 15-minute drive to any other part of the city. 

Hyde Park 

Hyde Park is another centrally located and desirable neighborhood to linge in. It’s near the UT campus which makes it a popular place to live for some college students. It’s also between two major highways giving local residents easy access to the rest of the city. While there are plenty of single-family homes in the area, there are also areas with mixed-use buildings with both residential and commercial spaces. These areas make for a walkable community where housing, shops, restaurants, and bars are all within the same area. 

East Austin

East Austin is one of the all-time great food and drink destinations in the county, not just the city. It’s home to Franklin’s BBQ, one of the most famous BBQ restaurants in the world and a popular tourist destination. There are many more options beyond Franklin’s when it comes to restaurants and bars. It’s also a walkable neighborhood like most areas in Austin which helps when you need to walk off all the food and drinks. 

78704

78704 is an interesting neighborhood because it has been rapidly growing in popularity over the last few years. The neighborhood provides a variety of both multifamily and single-family homes giving options to fit your housing needs. It’s close to downtown and walkable. The shopping and entertainment areas have a vibrant mixture of restaurants, bars, live music, and art. Some of the murals painted throughout the neighborhood are common sites on social media.