Friday, March 04, 2016
Research Rental Developments Aplenty Dot The Metro
AUSTIN, TX—With a skyline sprinkled with cranes and buildings under construction, Austin’s apartment market is as strong as ever. Thousands of units are being added to the apartment inventory, occupancy rates are very high, despite climbing rental rates, and high-end new construction is in demand by renters with more discerning taste.
Apartment builder optimism is obvious when analyzing at the number of developments completed and delivered in 2015. As many as 17 finished projects were large rental developments according to data from Yardi Matrix. That segment alone added 5,028 new apartments for rent in Austin last year.
By Lisa Brown of GlobalSt.com