Austin apartments are enjoying a great market right now–ask anybody. UT’s student newspaper, The Daily Texan, reports a record apartment market in Austin:
“Austin now has the distinction of possessing the strongest apartment market in the state, outpacing other major cities in Texas by several percentage points, according to a report by the Apartment Realty Advisors. By the end of 2006, the occupancy rate in Austin reached nearly 94 percent, compared to roughly 89 percent occupancy in both San Antonio and Dallas/Fort Worth and 88 percent in Houston.
“Not since the most recent building peak in 2001, when 11,665 units reached the market have Austin apartments seen such a a healthy boom. Right now, construction is picking up mainly in downtown Austin, where apartment units from four separate projects nearly reach the 800 mark.”
Austin Apartments: Up-and-Coming Apartment Projects
Trailing downtown Austin, South Austin apartment projects are also on the rise, according to O’Connor and Associates, an Austin apartment firm. Among the big names, SoCo Lofts will contribute 300 brand new units to the growing South Congress neighborhood, and Alexan Onion Creek will add almost 400 new Austin apartments to the Southpark Meadows retail development. The Villages of Bella Vista off of Brodie Lane will match the Alexan’s numbers in the Southwest Austin apartment market.
Pat Jones, an Austin apartment sales director, says, “Right now the economy in Austin is booming…the growth is healthy. Developers will add more units to match the supply with the demand.”
So, if you’re looking for an apartment in Austin, you’re in the right place! Just click below to get started at ApartmentSearch.