The Austin apartment outlook is good for developers! Thanks to the areas growth in jobs and population developers are racing to build apartment complexes as fast as they can. In fact by the end of 2013 Austin’s apartment count will be over 170,000 units. This is almost double what it was in 2000!
Because getting approved for a home mortgage is harder than it was a few years ago and the fact that adults 30 and below are delaying buying a home apartment rentals are on the rise. Mortgage rates are also expected to go up so this will further delay home ownership.
Apartment rental rates are higher than they have been in a while however with he influx of new apartments scheduled to be open rental rate increases should flatten or slow down.
Also on the rise in Central Texas are the sale of apartment complexes. Investors are bullish on the current and future economic growth in Austin, Tx. As occupancy and rental rates increase local and national investors will continue to be interested in Austin apartment investments.