Austin Multifamily Market
| Average Rent: | $1,498 |
| Average Occupancy (%): | 93.0% |
- The market has reported several positive developments that indicate stability has been achieved and recovery is on the horizon, notably: a decline in the number of excess apartments being delivered into the market, strong year-to-date absorption (5,758 units) and stabilized occupancy
- Austin had the highest first-quarter apartment absorption in its history, ranking #4 among U.S. markets for demand (CoStar)
- Austin is once again the #1 “Best State Capital to Live In” for the second consecutive year (WalletHub)
- Austin is one of the nation’s fastest-growing cities, with a growth rate of 1.2% during 2024
San Antonio Multifamily Market
| Average Rent: | $1,221 |
| Average Occupancy (%): | 92.2% |
- The San Antonio market has reported several positive developments that indicate stability has been achieved and recovery is on the horizon, notably: the continued decline in the under construction pipeline and an uptick in occupancy from quarterly demand outpacing deliveries
- San Antonio ranked as the nation’s third-fastest growing major job market in 2024, with a 3.4% unemployment rate - one of the lowest in Texas and well below the national average (CoStar, USBLS)
- San Antonio is one of the nation’s fastest-growing cities, with 1.0% growth during 2024