Here’s why rent in Austin is higher than any other big Texas city

Austin
File photo of keys (Courtesy Pixabay)

File photo of keys (Courtesy Pixabay)

AUSTIN (Austin Business Journal) — The Austin apartment market is once again in growth mode, with September’s price and occupancy metrics well above pre-pandemic levels — but experts say momentum should slow in the coming months.

While the numbers are still trending upward, the rate at which prices are increasing has been slowing each month. This, paired with normal market seasonality, spells a likely winter cool down for the multifamily sector.

In September, metro-wide apartment occupancy was at 92.7%, according to ApartmentData.com. This occupancy rate is fairly standard for the area — over the last 10 years, the rate has hovered around there. What is significant, though, is that the market went from a decade low of 88.1% in 2020 to a healthy occupancy so rapidly. 

Read the full story in the Austin Business Journal.

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