New Supply Coming to Austin’s Robust Apartment Market

According to Property Management Insider, Austin’s apartment market is performing robustly. During the second quarter, demand reached 2,300 units, average occupancy climbed to 95.4%, and rents grew 1.8%, representing a 4.1% year-over-year increase.

With 11,600 of the 15,000 units under construction scheduled to finish in the next year, operators may start seeing occupancy levels pullback. As long as Austin sustains its pace of economic expansion, the MSA’s apartment demand will keep up with supply. According to MPF Research, occupancy and rent growth should subside to “normal” levels at 94% and 2%-3%, respectively.

Read the full article at Property Management Insider