Dec 21, 2015
MPF Research: Austin multifamily trends 3Q 2015
AUSTIN- Demand topped net supply levels on a quarterly basis from 2,720 units to 1,428 units in third quarter 2015. In turn, occupancy improved 0.6 points, to an eight-year high of...
AUSTIN- Demand topped net supply levels on a quarterly basis from 2,720 units to 1,428 units in third quarter 2015.
In turn, occupancy improved 0.6 points, to an eight-year high of 96.1 percent.
Year-over-year, occupancy rose 0.3 points, and same-store rents for new leases jumped 2.5 percent quarter-over-quarter, the largest quarterly increase in three years.
Year-over-year, rents were up 5.2 percent — a strong number which topped expectations, and was slightly above Austin’s three-year annual average of 4.3 percent.
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