Austin rental prices are going down

AUSTIN (KXAN) - Apartment rental prices in Austin are going down. One reason why is Austin's vacancy rate is at 6 percent, compared to 5 percent in the third quareter in 2007. Rental market experts said they are seeing huge price drops across the Capital city.

According to austintowers.net editor Paul Darcy, some of the big apartment projects have actually gone back to renters with as much as a 30 percent price drop to keep them in their units without them even asking for it.