Sunset Valley, Texas, is a sector of the Williamson suburb on the southwest edge of Austin. It measures just one square mile in size. Sunset Valley's western boundary is the MoPac Expressway and on the north is Highway 290. Williamson is primarily small- to medium-sized apartment communities and high-rise condo complexes. However, the Sunset Valley sector of the area consists mostly of owner-occupied homes. Fully 90 percent of the homes here fall into this category, which is much higher than the national average. Sunset Valley is a small, compact section of this Austin suburb that prides itself on its hometown atmosphere and sense of community. At only one square mile in area, Sunset Valley does not have a large selection of available rental units. The average rent asked is approximately $2,500 per month. This is a rate significantly higher than other areas in Texas. The vacancy rate stands at around 2.2 percent, meaning there is a high demand for rental property and vacant units don't remain unoccupied for long. This, coupled with the high rate of owner-occupied property, can drive the prices up. While the Williamson suburb has a much higher vacancy rate at around 8.8 percent, rental property is far more scarce in the smaller Sunset Valley hamlet.