Austin Local News
Austin Apartment builders aim to meet booming demand
Apartment housing in Austin is booming.
ApartmentData.com's Cindi Reed said 2018 saw a big influx of apartment construction and move ins. Since big tech giants Apple and Google are adding more jobs and the city in general continuing to see job growth, she expects much of the same for the rest of 2019.
The industry hopes to have 11-thousand new apartments ready for move in by the end of the year.
Reed reported, last year saw a massive influx of apartment buyers and renters, moving from 90% occupancy in 2017, while 2018's final average had occupancy inching past 91%. This boost in demand only added to the rise of rental rates which at last count holds near $1,233.00.