Austin, TX
Live music capital of the world - SXSW and events-driven STR
Austin is one of the most event-dense STR markets in the country. SXSW, Austin City Limits, Formula 1 at COTA, and a packed convention calendar drive ADR spikes that rival any US market. The city has a complex and evolving STR licensing framework - non-owner-occupied Type 2 licenses are capped in residential zones - which creates scarcity value for permitted properties. Tech industry growth continues to fuel baseline demand.
Across 48 active STR-viable listings analyzed this month, Austin shows a 2.0% median cap rate at a $787K median list price, 39% occupancy, and $329/night. That ranks #48 of 57 markets in STRROI's live ranking. At typical prices, cash flow is tight: most listings only pencil out with a large down payment, a below-list purchase, or above-market nightly rates.
Austin real estate market right now
As of October 18, 2026, STRROI is tracking 48 homes for sale in Austin that could run as short-term rentals, at a median list price of $786,500. The middle half are priced between $504K and $2.5M. That works out to a median of $686 per square foot for a typical 1,257 square foot home. Homes here have been on the market 138 days on average, longer than the 101 days typical across the 56 markets in STRROI's ranking, which usually leaves more room to negotiate on price. 14 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Austin, mainly ZIP 78701. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in Austin right now
Of the 48 homes for sale we analyzed in Austin, none project positive monthly cash flow with 20% down at a 7.5% rate, and none rate Buy or better on STRROI's 1-10 scale. 2-bedroom homes are the most common (19 for sale, median $775K). They also post the best median cap rate of any bedroom count, 2.5%, against 0.6% for 4-bedroom homes. By property type, condos lead at a 2.1% median cap rate across 41 listings.
- Weak: 1
- Avoid: 47
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 14 | $493K | 2.3% |
| 2 | 19 | $775K | 2.5% |
| 3 | 7 | $2.3M | 1.3% |
| 4 | 3 | $5.3M | 0.6% |
| 5+ | 5 | $3.6M | 1.6% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Condos | 41 | $694K | 2.1% |
| Single-family homes | 7 | $3.5M | 2.0% |
Top-ranked homes for sale in Austin this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Weak · 3/102 bd · 2 ba condoZIP 78701 · listed at $231K
- Cap rate
- 4.9%
- Cash flow
- -$350/mo
- Nightly
- $183 at 39%
- #2Avoid · 2/102 bd · 1 ba condoZIP 78701 · listed at $330K
- Cap rate
- 4.0%
- Cash flow
- -$756/mo
- Nightly
- $202 at 39%
- #3Avoid · 2/103 bd · 2 ba condoZIP 78701 · listed at $825K
- Cap rate
- 3.6%
- Cash flow
- -$2,139/mo
- Nightly
- $413 at 39%
How Austin compares
Austin ranks #6 of 6 South Central markets in STRROI's live ranking; South Padre Island leads the region with a median cap rate of 4.8%. Its 2.0% cap rate is 0.9 points below the 2.9% median across all 57 ranked markets, and its $787K typical list price is pricier than the South Central median of $551K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #12 | South Padre Island, TX | 4.8% | $794K |
| #26 | Port Aransas, TX | 3.4% | $543K |
| #34 | Broken Bow, OK | 2.6% | $560K |
| #36 | Fredericksburg, TX | 2.4% | $465K |
| #37 | Galveston, TX | 2.4% | $380K |
| #48 | Austin, TX | 2.0% | $787K |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose Austin
Austin STR investing, answered
Is Austin, TX a good short-term rental market?
Austin is a South Central STR market with a 2.0% median cap rate, 39% annual occupancy, and $329/night across STR-viable listings, based on 48 active listings. It ranks #48 of 57 markets by median cap rate in STRROI's live ranking. This month none of its 48 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Austin?
STR-viable properties in Austin average about 39% occupancy across the year. Peak season is Mar (SXSW), Oct (ACL/F1), summer. Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in Austin?
At $329/night and 39% occupancy, a typical Austin STR grosses roughly $46,233 per year before expenses, leaving an estimated $27,740 in net operating income. Across analyzed listings the median cap rate is 2.0%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Austin?
Among homes for sale right now, 2-bedroom homes post the strongest median cap rate by size (2.5%), and condos lead by property type (2.1%). With guests, the best-performing STR types here are Single Family, Condo, Bungalow, Townhouse. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Austin cash flow as an Airbnb?
0 of 48 STR-viable listings (0%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 2-bedroom condo in ZIP 78701 listed at $231K, projecting a 4.9% cap rate and -$350 a month.
What is the median home price in Austin, TX right now?
The median list price of the 48 homes for sale STRROI tracks in Austin is $786,500, and the middle half are priced between $504K and $2.5M. The median price per square foot is $686. These are homes that could run as short-term rentals, mainly ZIP 78701, not every sale in the area. Against a 2.0% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Austin?
Homes for sale in Austin have been listed 138 days on average, longer than the 101 days typical across the 56 markets in STRROI's ranking, which usually leaves more room to negotiate on price. 14 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 48 active listings · last updated Oct 18, 2026
Run a live analysis in Austin
Search homes for sale in Austin and instantly see cap rates, cash flow projections, and STR comp-backed nightly rates - all in one underwriting report.