Austin Multifamily Market
| Average Rent: | $1,560 |
| Average Rent (Price/SF): | $1.79 |
| Average Occupancy (%): | 87.0% |
- Austin’s multifamily market remains stable and robust, with year-over-year rent growth of 2.9% on lease renewals
- Absorption remained robust at 8,732 units in 2023, reflecting a notable 32% increase from 2022
- The Austin metro has been the fastest-growing area in the nation for 12 years in a row
Download Austin Multifamily Market Update 4Q23
San Antonio Multifamily Market
| Average Rent: | $1,226 |
| Average Rent (Price/SF): | $1.41 |
| Average Occupancy (%): | 88.5% |
- San Antonio led Texas with the most significant rebound in absorption from the first half to the second half of 2023 (CoStar)
- In the past 12 months ending in June 2023, the San Antonio metro gained 41,700 jobs, a 4.2% expansion well ahead of the 2.8% national average
- The Alamo City ranks the No. 8 “Real Estate Market to Watch in 2024” (ULI, Emerging Trends in Real Estate)