Austin apartment tally: 19,767 units in 1Q 2014Austin apartment tally: 19,767 units in 1Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=42902014-05-02T07:08:00Z2014-05-02T07:00:00Z

AUSTIN - Apartment occupancy remains high and rents continue to rise throughout the Austin market, according to the Austin Multifamily Report by Austin Investor Interests LLC.

There are 17,627 units currently under construction and another 2,140 units poised to start. The average price per unit for investment sales is $102,538.

During first quarter 2014, occupancy rates came in at 94 percent, a drop of 0.85 percent from the previous quarter. That puts the annual decrease at 1.14 percent, which is the largest drop since 2009.

Rental rates, however, increased 1.44 percent during the quarter to an average of $1.20 per sf across all classes of properties. The cost of living downtown in a new apartment far exceeds that average. Rent in the Central Business District average $2.51 per sf.

Read more at the Austin Business Journal.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2014/04/austin-apartment-tally-19-767-units-coming-soon.htmlRead more at {Source}

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