{{titleBar.title}}

{{titleBar.tagline}}

 

 

Austin submarket vacancy/rent comparisons 1Q 2015Austin submarket vacancy/rent comparisons 1Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=3992015-07-14T05:00:00Z2015-07-14T00:00:00Z

AUSTIN - Construction was completed on 2,390 multifamily units in the last three months, 15.5 percent more deliveries than the preceding quarter, according to Berkadia’s Austin Multifamily first quarter 2015 report.

Rental demand heightened with 2,780 newly occupied apartments in the first quarter, up from 1,190 units absorbed in the preceding three months. A combined 8,760 units were absorbed in the last year.

Vacancy lowered 20 basis points to 4.8 percent in the first quarter. The decrease was part of a 30-basis-point decline in the last year.

At $1,101 per month in March, average asking rent was up 1.3 percent since December. Rents increased 4.8 percent year over year.

Austin Vacancy & Rent Comparison
Submarkets* Vacancy Average Rent
1Q 2015 1Q 2014 1Q 2015 1Q 2014
Central 6.1% 4.8% $2,025 $2,002
West 6.9% 6.3% $1,370 $1,351
Travis County West 5.4% 5.5% $1,229 $1,191
Far South 5.1% 4.8% $1,146 $1,093
Northwest 5.6% 7.0% $1,144 $1,109
Far Northwest 6.3% 4.6% $1,117 $1,056
Travis County East 5.0% 4.6% $1,084 $1,042
East 5.1% 6.2% $1,068 $960
Hwy 183/Cedar Park
/Leander
5.9% 5.0% $1,034 $981
Southeast 5.8% 4.9% $1,005 $901
Hays County/Other 4.8% 6.2% $1,000 $986
Total** 4.8% 5.1% $1,101 $1,050


*Listed submarkets include those which have an average rent over $1,000 in 1Q 2015 and are sorted by average rent.
**Total represents all 18 submarkets in Austin.

Click Berkadia Austin Multifamily 2015 (PDF)​.

Source: Berkadia

Click Austin Market Research Multifamily for more reports.

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

 Search NewsTalk Texas