Austin Investor Interests 2Q 2014 apartment factsAustin Investor Interests 2Q 2014 apartment factshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=29222014-09-30T07:34:00Z2014-09-30T07:10:00Z

AUSTIN - The second quarter continued to reflect the health and vitality of the local apartment market, according to Austin Investor Interests.

Rental rates soared, rising another 2.6 percent over the quarter to reach 6.9 percent annually, while occupancy remained steady despite seeing the largest number of completions in five years hit the market over the last six months.

Prevalent new trends include the addition of outdoor enhancements involving common social/entertainment areas, pet related features and social/music venues poolside or in the lounging community center.

Over the next 12 months, the inventory of Class A units will rise nearly 44 percent.

The largest amount of new construction will occur in the central sector, where there is much leasing traffic, but many applicants are unqualified and those that are qualified fear the inclusion of student living.

Just the Facts 2Q 2014
Avg. occupancy 94%
Avg. rent $1,053
Avg. SF 852
Avg. $/SF $1.24
New units added
Avg. sales price/unit $94,039

2Q 2014 Affordable Housing Stats:
16,415 Units — 97.5% — $.93 psf

2Q 2014 Student Housing Stats:
10,459 Units — 95.9% — $1.53 psf

Source: Austin Investor Interests

Austin Investor Interests LLC
Austin-Round Rock
https://www.recenter.tamu.edu/Pages/market-research.aspxRead more at {Source}

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