Austin Apartment Market Update - August 2007

Click here for graphs and a PDF version of this article.

Occupancy in the Austin market increased for the first time in four months; Austin occupancy remains the highest of any major Texas market.  Austin average rental rates increased another $0.006 psf in August, and are the highest in the state.  August demand was average in Austin; monthly absorption figures trailed Dallas/Fort Worth and Houston among the major Texas markets.

Austin apartment market occupancy was up 0.54 points in August and is up 0.27 points over the year to 93.24%. Average rents per square foot reported a $0.006-psf monthly gain to $0.966 psf, and are up $0.028 psf since this time last year.  Average rent per unit increased $5.08 in August to $805.52, bringing the annual increase to $23.33.  Monthly absorption was once again in the black at 630 units.  Annual absorption remains in the positive, at 1,647 units.

ApartmentLink is your best source for apartment market data in Houston, Dallas/Ft. Worth, Austin and San Antonio. With information on owners, occupancy, rent, ammenities, detailed property information, comparable information, and much more, ApartmentLink provides vital apartment information for on-site managers, vendors, brokers, owners and investors. The database is available online at oconnordata.com.

Ask about your FREE 10-Day trial for the most accurate online Texas apartment data today! Click here to sign up or contact Heather Wiesner at 713-375-4262.