According to the Austin American Statement article, here, the apartment residence might start seeing a little bit of a slow down on rent increases. Over the past 3 years Austin has been increasing steadily on rental rates with no end in site. Developers have been scrambling to meet the demand of new residences coming to Austin and there are signs that they are catching up. However, Austin is still one of the fastest growing cities in the nation and if only Class A apartments are being constructed it is certain that the rental rates will not drop anytime soon. Its nice to see a little slow down but don’t count on it too much.
Rents ease but still high
About the Author: Brent
Brent Bockholt is the Co-Owner of Austin Property Team (APT) and is in charge of the overall operations and business development. He is an active member of the Austin Board of Realtor (ABOR), the National Association of Residential Property Managers (NARPM) and a licensed Realtor ®