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Austin Texas Apartment NEWS
Austin hits highest apartment occupancy rate in two years Apartment occupancy rates in Austin increased by 3 percent for the fourth quarter of 2005, putting the city at 93% - back above the 90 percent mark for the first time since 2002.
According to the Austin Multi-Family Trend Report published by Austin Investor Interests, average apartment occupancy in Austin was 93 percent for the quarter.
All classes of apartments saw an increase, including older Class C units, which generally have struggled in Austin throughout the past few years. Those apartments saw the largest increase, with 2.7 percent growth for the quarter.
According to the report, rental rates in Austin rose by about 81 cents per square foot, ending an 11-quarter period of decline.
The average monthly rental rate in Austin during the third quarter was $669, an increase of $7 per month from the second quarter. But the rate reflects an annual decrease in average rental rates of $5 per month.
According to Austin Investor Interests, rate increases were notable in all floorplans, with the exception of efficiency apartments, which remained steady.
The report attributes much of the turn around in rental rates to the stabilization of Class A, or newly constructed apartment units, which have shown increases in rental rates for the past two quarters.
New unit completions remained low in Austin, with 470 conventional and 558 non-conventional units added during the quarter. Annual completions have also declined by 69 percent during 2004
Overall, the Austin apartment market is improving and is expected to continue, according to the report.
List of Austin Texas apartments, rentals, condos and townhouses in database of
free Austin Texas apartment locator including zip codes
We work with nearly every one of the Austin apartment communities. Below are just some of the many apt complexes we can help you with in the Austin Round Rock Pflugerville Cedar Park Leander metro area
Northeast
The area centered around the intersection of Highway 290 and Highway 183 is the heart of Austin's high tech corridor. Motorola, Dell, Applied Materials, and many other technology companies are found here. Catering to busy young professionals, the newer apartment communities may feature business centers and convenient on-site recreational facilities. Older properties are among the most affordable in town.
North
Highway 183 (Research Boulevard) runs north-west from IH 35 to the Capital of Texas Highway before turning more north. That area north of the east-west portion of Highway 183 between FM1325 (Mopac) and IH 35 up to Wells Branch Parkway is the area known as North Austin. Home to many high tech companies including IBM and Texas Instruments, the area includes major park and recreational facilities such as Walnut Creek Metropolitan Park.
North Central
From the east-west portion of Highway 183 between IH 35 and Mopac (Loop 1) south to the University of Texas is generally referred to as North Central Austin. There is a mixture of students and small families in this older, predominantly residential area. Many of the more central locations are within walking distance of the UT campus and many downtown attractions. Because of the proximity to downtown and UT, the rents are relatively high in this area for older properties most without washer/dryer connections inside the individual units.
Round Rock and Pflugerville , sometimes referred to as Far North Austin, are characterized by more affordable housing, from older 80s communities to newer prime Class A apartments.
Downtown
Apartment communities north and south of Lake Austin, primarily around South Congress and Lamar Boulevard are generally exclusive, high rent apartments and townhomes. These homes offer the ultimate in luxury and a convenient in-town location, close to shopping, entertainment, recreation, and education options.
South Central
South of Town Lake, between Lamar Boulevard and IH 35 south to Ben White is in the shadow of downtown. Old mixes with a bit of new, with both types of properties convenient to both St. Edward's University and the University of Texas as well as the recreational areas and entertainment venues along Town Lake. Rents on these properties, along with South and Southwest rents, have risen faster than their northern counterparts because of lack of new construction.
Southwest / West
The Hill Country starts here. From IH 35 west to 290 and Southwest Parkway between Slaughter Lane and Barton Springs Road, Zilker Park anchors the area. You'll find apartment communities with spectacular views of downtown or hilltop and wooded seclusion. Parts of this prime real estate come with a high price as reflected in the apartment rents, even though there are pockets of "good deals" in some newer apts..
South
Along the IH 35 corridor from the shores of Town Lake south to William Cannon, residents have easy access to both St. Edward's University and the University of Texas.
