Apartment Rentals Increasing
Apartment rentals are on the rise, which may seem a little odd during a slow economy. If you really think about it, the increase in apartment rentals actually makes perfect sense. With all the foreclosures on homes because of the slow economy, you have to wonder where all the people who lived in those houses are going. Simple – they are renting apartments.
Apartment Renters Are Staying Put
According to an article in BusinessWeek magazine, fewer people are moving out of apartments to buy homes. In fact, the rate of people moving out of apartments to buy homes is around 14 percent compared to 20 percent last year. There is also the fact that lending standards have gotten stricter, making it more difficult to qualify for a mortgage.
Apartment Rentals Make Sense in Slow Economy
The article also mentions that renting an apartment makes more sense to a lot of people during uncertain financial times. To some it is a much safer feeling to be locked into an apartment lease instead of being locked into a mortgage. The parts of the country where there is an increase in apartment rentals directly corresponds to the parts of the country where the job market is going strong. Areas that have seen a decrease include Florida, California, Arizona, Nevada and New Jersey, according to the article. Areas that have seen an increase in apartment rentals include Tacoma, Seattle, San Francisco and Oklahoma City.
Apartment Rentals: Searching Made Easy
Apartment rentals being on the rise means that the vacancy rate across the nation is going to be lower. It also means that finding apartments that are available is going to get more and more difficult without some assistance. ApartmentSearch.com is a valuable tool for people who are trying to find an apartment to rent. Our search function makes it easy for the apartment hunter to visit virtually any complex and apartment management office without ever leaving their home.
Apartments in Austin: Boom Times
Apartments in Austin are being built at a record pace, according to apartment industry research firm M/P/F YieldStar. Currently, 12,810 Austin apartments are slated to be built through the end of 2009; that is the third-largest new supply in the country.
Apartments in Austin: An Apartment Renter’s Paradise
M/P/F reports that apartment renters in Austin have the pick of the litter right now, with occupancy rates in the Texas capital city down somewhat (1.8 points) from the same time last year. That means that Austin renters and new arrivals who are seeking apartments for rent face less competition than usual in this popular city.
Apartments in Austin: Great Deals in the Future
Fortunately for Austin-area apartment seekers, an abundance of apartments in Austin equals rent discounts, apartment rewards and other renting incentives. We expect apartment managers and landlords will be busy as we enter Austin’s prime apartment leasing season.
New Apartments in Austin
At the same time, the builders of the newest complexes in Austin are seeing their apartments leased out for much higher rents than normal. These apartment complexes, which see rents starting at about $1,300 and going up to almost $13,000 a month, are located mostly in the downtown area as well as the trendy Domain area of Austin.
Finding Apartments in Austin
If you are in the process of finding an apartment in Austin and you want to know where you can find the trendy new apartments mentioned above or the apartments with the best rental deals – or just an apartment that has the amenities you desire – than come to ApartmentSearch.com and let us help you find your perfect new home.
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.
High rise Dallas apartments are going up at a record pace in Dallas, Texas. Driven by high land prices, apartment developers are building bigger and higher than before. Builders plan on adding 7,000 new Dallas apartments for rent before mid-year, and many of them will be high-rise apartments. Read the rest of this entry »