As recently reported in the Austin Business Journal, the rental rates for apartments are predicted to climb 4.5% in 2015. Not much new news there but the headline is a confirmation of what has been reported in other publications. Berkadia, a firm that specializes in the multifamily arena states that not only will rents continue to rise this year but that …that expected new apartment inventory of 10,400 units will be quickly absorbed. Last year the apartment market saw 9,150 new rental units absorbed from the 9,340 new units that came on line. They report that the vacancy rate of 4.5% is lowest that Austin has seen since 2006.
What a great time to be investing in Austin area residential real estate!