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Austin apartments Jan.-Sept.: Marcus & MillichapAustin apartments Jan.-Sept.: Marcus & Millichaphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=57982013-11-06T12:49:00Z2013-11-06T08:00:00Z

AUSTIN - Austin’s economy will strengthen further over the next year, with local gross domestic product forecast to push past $100 billion for the first time in history, according to the most recent Marcus & Millichap quarterly report.

Developers completed 4,470 apartments during the first nine months of 2013. In the same period last year, approximately 2,330 units were brought online.

Austin Submarket Vacancy Ranking
Rank Submarket Vacancy
Rate
Effective
Rents
Y-O-Y
Change
1 Downtown/University 3.3% $2,002 4.1%
2 Arboretum 3.5% $1,019 6.3%
3 North Central Austin 3.5% $816 8.5%
4 Northwest Austin 3.6% $975 4.7%
5 South Austin 3.9% $1,142 5.3%
6 Far West Austin 3.9% $1,016 4.4%
7 Pflugerville/Wells Branch 4.0% $906 6.3%
8 Round Rock/Georgetown 4.1% $943 4.4%
9 Southwest Austin 4.3% $1,195 2.9%
10 Near North Austin 4.5% $1,064 6.4%

*ranked by vacancy

Read more at Marcus & Millichap Real Estate Investment Services.

Visit Austin Market Data Sources for free stats and data!

Marcus & Millichap Real Estate Investment Services
Austin-Round Rock
Multifamily
http://www.marcusmillichap.com/research/reports/apartment/austin_3q13apt.pdfRead more at {Source}

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