Q. Why are there no addresses listed in your ads?
A. In order to receive credit for leasing the property, we have to show you the property. In order to give you the most choices, we work all open listings, not just ours.(we work with well over 95% of the complexes in town) In some cases, we can meet you at the property to make it easy on you. Or in some situations (like a long distance, sight unseen rental) , register you ahead of time, so we would not have to be there, but we have to arrange this before you look at the property.
A. Can you send me a list of apartments in Austin?
Unfortunately there is no such thing as a true updated list of available Austin apartment rentals. There are hundreds of rental management and private owners in town, without an MLS type system. Which is why we exist - because it is .a overwhelming task to do it yourself. Therefore we have no correlated list available that we can send you. You can always check our website for an updated selection (but it only lists a small percentage of what available apartments in Austin we have) . Anyone who says they have a list of apartments actually has a limited database of the units - the ones that will work with them on a smaller commission when they "send" you to apartments on that list, without checking availability - MOST OF WHICH DO NOT HAVE AVAILABILITY OF UNITS MEETING YOUR CRITERIA.
The main reason a list wouldn't help you is that it doesn't show what is available! Availability of units for a particular price, area, etc. literally change daily. Our job is to do the legwork for you, and find the best ones available using your criteria so you can pick from the top ones. Otherwise, you might as well use the yellow pages as a "list". We are full service professional real estate agents, like Realtors
Q. How else can you help me?
We can advise you on all aspects of your search, and find those "hard to find" properties that have:
- Unique Floorplans - roommate plans, extra closet space,
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- Move-in Specials - $0 move-in , 1,2 even 3 months Free
- Pre-leases and waiting lists
- Specific amenities - Gas cooking, dog parks, townhome style, condo specs, garages
- Unique Units or exteriors - lofts, townhouses, yards, duplexes
- Short Term leases (and the ones with the smallest upcharges)
- Bus lines, estimated commuting times, maps
- Special issues - damaged credit
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Current News Articles
ALN - First Quarter, 2014 Austin Occupancy rates, rents, trends
Some of the hotter markets like Austin and Dallas-Ft. Worth in 2013 experienced a chill at the end of the year.
Austin has been a red hot market the last few years, so a cooling off was due. In the first 9 months of 2013 Austin absorbed 5000 units. However in the 4th quarter of 2013 Austin had a net absorption of -100 units and also added a net 600 units to the market, dropping overall occupancy in the market to 92.8% by the end of 2014. The 1st quarter of 2014 saw another 1200 units added to the market and a net loss of 400 rented units, bringing overall occupancy down another percentage point to 91.8% by the end of the quarter. Effective rents however, continue to rise. Effective rents rose 1.5% in the quarter to $1031 per unit, which is a sizable increase of 8.2% from a year earlier
ALN METRO SUMMARY
TX - Austin
OVERALL MARKET STABILIZED PROPERTIES
OCCUPANCY CHANGE EFFECTIVE RENT %CHG OCCUPANCY CHANGE EFFECTIVE RENT %CHG
Mar-13 Mar-14 bps %CHG Mar-13 Mar-14 Mar-13 Mar-14 bps %CHG Mar-13 Mar-14
94.3% 91.8% -250 -2.7% $953 $1,031 8.2% 94.9% 94.9% 0 0.0% $945 $1,001 5.9%
Higher rents leading to changing demographics on East Riverside
- With occupancy rates citywide hovering near 96 percent and rents rising — the average Austin-area apartment monthly rent is now more than $1,000 — developers are renovating and tearing down old apartments and replacing them with new, more expensive units.
- The changes on East Riverside are part of a city plan to remake the corridor as a walkable, tree-lined boulevard with ground-floor shops and restaurants below apartments and condominiums
- Nowhere is this transformation more striking than in the triangle bounded by East Riverside Drive, Lakeshore Drive and South Pleasant Valley Road
East Riverside rental property comparisons, 2006 to 2013
- However, affordable housing advocates and community leaders say the city’s plans failed to take into account the fact that many of the people living in the area can’t afford to pay the higher rents that come with the new or renovated properties.
- At the end of 2006, rents at twenty two apartment buildings considered affordable along the East Riverside corridor ranged from $496 and $871. In 2013, rents at those apartments range from $568 and $1,550, and census figures have shown an exodus of minorities from the area.
- Some long term residents have been forced to hop from one shoddy building to the next or leave the area entirely — many times moving to neighborhoods farther from the center of the city, where public transportation, day care and services like health clinics aren’t within walking distance as they are along East Riverside.
- 4 years after being announced, RiverView Austin, the boxlike lofts coated in earthy tones, rise high above E. Riverside. New apartments have emerged amid fast food restaurants, taquerias, and strip malls, while some older buildings are being upgraded, Las Palmas, has been renamed Link
- It is one of a number of revitalization strategies for downtown and surrounding areas that fall under Imagine Austin, a 31-year blueprint meant to reshape the city’s core
The Austin-area apartment market continues to boom
The local market, among the hottest in the nation in the past three years, shows no sign of slowing down, as 18,600 units were under construction at the close of the third quarter. The growth rate is the 2nd fastest in the country behind only Raleigh - Durham NC. Central Texas apartments were on average 96% full with rents averaging about $1,000/month, up 6.5% over last year.
About 5,000 units were added last year. More than 12,000 units are expected to be completed in the next 12 months, a 140% increase over the previous 12 months. The pace of growth is unprecedented and the next 12 months are expected to see another 10,600 units break ground based on developer expectations.
Local experts and apartment developers say the Central Texas area is poised to absorb all the new units based on the region's population and job growth continues. The new developments are being absorbed quite well overall but the new planned units should slow rent growth and occupancy rates over the next year.
Experts predict occupancies will slide a bit in 2014 and the pace of rent growth will slow as the wave of new units open in 2014.
MFP forecasts the Austin metro will end 2014 with occupancy of just under 94% and a 2.5% overall rent growth, with virtually NO increase occurring in the luxury apartment market.
However, the outlook changes after that.Unlike peak periods of apartment unit deliveries that coincided with recessions,this time near-term economic growth should be strong. Occupancy and rent growth appear likely to accelerate again in 2015-2016.
HANOVER CO. TO BUILD SOUTH LAMAR
A joint venture between he Hanover Co. and an unnamed private investor has been created to develop a 3.44 acre site into multi-family housing. are developing the 340-unit Hanover South Lamar at 809 S. Lamar Blvd. in Austin.
The 5 story community will be built on top of a parking garage and 6200 sf of retail space. 1 & 2 bedroom units will average 875 sf
Apartments are 'In' in Austin
With occupancy rates hitting 96% or more and rental rates also hitting record highs, developers are looking to get on the Austin apartment bandwagon. Average rents are now at $1007 per month.
Fortunately, several complexes are either planned or under construction, which may help alleviate some of the pent-up demand
- • 201 unit Wildflower Terrace
- • 302 unit University Park
- • 301 unit Mueller Phase II
- • 230-unit Lakeshore Apartments
- • 1,200-unit South Shore District
- • 215-unit The District at SoCo
- • 210-unit Gables Park Plaza II
- • 334-unit HPI Residential-Davis Springs
- • 325-unit HPI Residential-Lakeline
- • 318-unit Lamar and Manchaca apartments
- • 298-unit Post South Lamar
- • 244-unit Camden Amber Oaks, second phase
- • 296-unit Colonial Grand at Double Creek
All of the complexes are either under construction or planned.
Windy Ridge Apartments planned for RR 620 / Anderson Mill area
Windy Ridge Apartment Homes, a 120 unit development is being developed at 10910 N. RR 620 in Austin. close to the Anderson Mill intersection. Sources indicate they units will be very well priced with
1 bedroom 1 bath, 725 sf units priced from $700-800
2 bedroom 2 bath, 1020 sf units priced from $800-$900
3 bedroom 2 bath, 1250 sf units priced from $1100-$1200
ENDEAVOR UNVEILS NEW DOWNTOWN AUSTIN ENDEAVOR
AUSTIN There's been no shortage of new projects in downtown Austin lately, and Endeavor Real Estate Group has released details about another.. The local firm said it has lined up the equity and is partnering with Lynd Co. to develop a 36-story tower near West Fifth and Bowie Streets.Plans for the building, dubbed 3 eleven Bowie, call for 358 apartment units, as well as 42,000 sf of office and 3,000 sf of retail space.The developers plan to break ground in September. The first of the apartments are slated to be completed by third quarter 2014.
Austin Texas Apartment Market Report
Austin's apartment market on record setting hot streak
The Austin area apartment market is continuing on its hot streak, with rents & occupancies hitting the highest levels in 2 decades. The area's midyear apartment occupancy rate stood at 97.8%, said real estate consultant Charles Heimsath, president of Capitol Market Research. He said that's the highest rate since 1991, when he started surveying the Austin market.
The high occupancy is pushing rents up also They hit a record $1003 per month That's a jump from a $930 average in June of last year. Although more than 10,000 more apartment units are under construction in the area, demand is still easily outpacing supply.
While landlords are raising rents, many tenants are facing sticker shock. Driven by job growth and a robust influx of newcomers — more than 50,000 a year — along with a recession-caused dearth of new units being built, the region's apartment market has become one of the nation's hottest over the past 2 years in terms of rising rents & occupancy. Experts expect the rental squeeze... and the escalating rents.. to continue through next year.
Austin's economy has fared better than most U.S. metro areas during the downturn, making it an attractive place for job seekers, including younger people who are likelier to rent. But even Austin wasn't spared from the recession and the ensuing financial constraints that made it virtually impossible to obtain financing in recent years for new projects, including apartments.
Heimsath's research shows 10,604 apartment units currently under construction, more than a tenfold increase from the 839 under construction in June of last year with an additional 8,800 planned for the next few years
New apartment construction in Austin "will be among the most aggressive seen anywhere across the country during the next couple of years," said Greg Willett, vice president of research and analysis at MPF Research, whose research showed Austin's apartment occupancy at 95.6 % slightly lower than Heimsath's figure.
FLOOR PLAN BREAKDOWN
% of Mkt Avg SqFt Ave Eff.Rent/Mo
Eff 2.5% 425 $693
1 BR 46.3% 686 $803
1 DEN 3.4% 885 $948
2 BR 37.0% 1,005 $1,123
2 DEN 1.4% 1,132 $1,214
3 BR 7.1% 1,239 $1,350
>3 BR 2.3% 1,342 $1,660
Projects will add 780 apartments along East Riverside corridor
Two apartment projects announced a few years ago along E. Riverside Drive are ready to move forward as the local multi-family market heats up. With a 3rd project under way, the plans will add and additional 780 residential living units
Construction is planned for later this year on the street and utility infrastructure for the western 26 acres in what is known as the Lakeshore planned unit development, or PUD . A month or two later,Cypress Real Estate Advisors will break ground on the 1st component, a $30 million apartment project with 230 luxury units along South Lakeshore Boulevard, east of Riverside Dr.
Palms on North Lamar
Mulholland Group recently opened its new twenty-one building, 476 unit affordable housing community located at 8602 N. Lamar Blvd. The $35 million Palms on North Lamar was financed in part by the largest tax credit arrangements awarded by the American Recovery and Investment Act in Texas in 2010.
Historical Data on Renting in Central Texas
* Note: Current rents recently surpassed the previous highest rents in Austin (in June 2000)
Quoted Rents are for 2-bedroom, 2-bath units. Occupancy rates are for all apartments.
Date Average rent Occupancy rate
June 2000 $913 98%
June 2001 $951 93%
June 2002 $868 90%
June 2003 $812 88%
June 2004 $784 89%
June 2005 $811 93%
June 2006 $861 95%
June 2007 $900 93%
June 2008 $905 92%
Feb 2009 $870 88%
March 2009 $824 87%
March 2010 $850 91%
August 2010 $874 94%
May 2011 $890 95%
December 2011 $898 95%
June 2012 $953 *95.6%
November 2013 $1007 96.0%
March 2014 $1031 91.8%
*per MPF Research
Wave of apartment development on the way
Austin's sizzling apartment market is prompting developers to race to the starting gate with new projects. The development plans come as apartment rents have hit record highs and the occupancy rate has jumped to 96%.
Proposed Construction / Greater Austin -2013
Name * = Affordable Housing Units Area
** = Senior Housing
--------------------------------- ----- ----------------------
- Robertson Hill II/Lane-SW 282 Downtown /UT/ Riverside
- Gables Republic Park 221 Downtown /UT/ Riverside
- Riverside Square Redev/CWS 300 Downtown n/UT/Riverside
- Greystar Magnolia 245 Downtown n/UT/Riverside
- Post 1500 S Lamar/Post 298 Downtown /UT/Riverside
- The Milan 100 Downtown /UT/Riverside
- 5400 N Lamar/Camden 290 Downtown /UT/Riverside
- District SoCo/Kaplan 215 Downtown /UT/Riverside
- 21st at Pearl/Lee Prop 121 Downtown /UT/Riverside
Northeast & Southeast:
- Mueller Airport Site II/Simmons Vedder 300 Northeast
- South Shore District I & II/Grayco 1175 Southeast/Riverside Dr
North & Northwest:
- Riverhorse Ranch II/Belco 278 Pflugerville/RR/Gtown
- Mansions at Round Rock II/Chaucer 237 Pflugerville/RR/Georgetown
- Criterion at Harris Ridge 400 Pflugerville/RR/Gtown
- Crestview Station II/High Street Res 600 North
- Greystar Stone Hill 300 Pflugerville/RR/Gtown
- Two Rivers/Larry Peel 163 Pflugerville/RR/Gtown
- Archstone Hogfarm 500 Cedar Park / Leander
- RIATA IX/Legacy 306 cedar Cedar Park / Leander
- Little Elm/GenCap 372 Cedar Park / Leander/ Jollyvlille
- Crossings La Frontera/Simmons Vedder 357 Cdr Park/Leander/Jollyville
- Crossings Lakeline/Simmons Vedder 400 Cedar Park/Leander/Jollyville
- Camden Amber Oaks II/Camden 250 Cedar Park/Leander/Jollyville
- Park North/GenCap 600 Cedar Park/Leander/Jollyville
- Fairfield at Ribelin Ranch 298 Cedar Park/Leander/Jollyville
- Crystal Falls/GenCap 488 Cedar Park/Leander/Jollyville
South & West:
- Stonecreek Canyon/Moody National 184 South/Hwy 71/I-35
- Alexan Legacy Oaks/Trammell Crow 372 South/Hwy 71/I-35
- Verde LaDera 300 South/Hwy 71/I-35
- Vantage at Plum Creek* (Kyle) 264 South/Hwy 71/I-35
- Colonial Village at Cityway 376 South/Hwy 71/I-35
Total (31 properties) 10,588
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