Today Chris Stutzman at Transwestern recently sent me over a copy of their Austin Apartment Report for the 3rd Quarter.
- Rents grew 4.8% during the past 12 months
- Occupancy remains strong for the quarter Absorption outpaces supply again
- Development pipeline grows – 48 projects totaling 12,560 units under construction
- The market’s current unemployment figure stands at 5.3%
Overall things are rocking and rolling but with 12,560 units under construction we could see some rent price reductions or at the least no rent growth as those units come online over the next couple of quarters.
My experience right now mirrors the information that is being reported in the Transwestern Report. I have no vacancies and rent is growing! In my opinion the 4th quarter will reflect continued strength and rent growth! A copy of the report can be found here: