Jan 15

Print this Post

Q4 2013 Austin Apartment Market update

hendricks berkadiaRental demand for apartments in Austin soared in 2013 according to a recent report by Hendricks-Berkadia Apartment Real Estate Advisors.

Highlights from the report include:

  • 6,240 apartments were absorbed in 2013 up from 3,350 units in 2012.
  • US Hwy 183 / Cedar Park / Leander corridor and the Far South submarkets lead the way in new inventory with 1,690 units and 1,310 units respectively.
  • The US Hwy 183 / Cedar Park / Leander corridor led all submarkets in leasing activity with 900 units absorbed.
  • 40% more apartment permits were filed for in 2013 compared to 2012.
  • Vacancy increased to 4.8% in 2013 compared to 4.7% in 2012.
  • Average asking rent reached $1,026 in December up 3.2% over 2012.
  • The Central submarket had the highest rents at $1,976 / month up 4.1% over 2012.


Permanent link to this article: https://atxre.com/q4-2013-austin-apartment-market-update/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.