No. 15: Austin-Round Rock, Tex.

No. 15: Austin-Round Rock, Tex.

Average monthly rent: $782
Annual drop: -8.1%
Q4 2009 drop: -1.8%

The Austin area, where companies such as Dell and National Instruments are headquartered, experienced a population boom in the last decade. It is beginning to recover from recession but the tough economy left the area with an 8.2% vacancy rate, prompting landlords to give an average 1.2 months of discounts in Q4 2009. The unemployment rate in Austin was 6.9% last December, lower than the national average of 10%.