Austin rent is rising fast. Is this price gouging?

AUSTIN (KXAN) — The data is clear: rent is way up in Austin.New data from Redfin shows Austin rents rose 48% from May 2021 to May 2022. The Austin area was the top metro with year-over-year rent jumps, followed by Nashville, Seattle and Cincinnati.Austin’s increase was the largest increase in Redfin’s rental data history, which started in 2019, according to the Thursday release. The median asking rent was $2,707.Realtor.com data shows Austin rent is up over 25% since March 2020