Austin Multifamily Market
| Average Rent: | $1,498 |
| Average Occupancy (%): | 93.5% |
- Supply in Austin is expected to decline sharply in 2026, with ~18,000 units under construction, roughly 65% below the 1Q23 peak, positioning the market for strong rent growth in 2027 to 2029 (RealPage)
- The market has reported several positive developments that indicate stability has been achieved and recovery is on the horizon, notably: an uptick in annual occupancy rates, annual demand outpacing annual deliveries, and the under-construction pipeline continuing to empty out
- Austin is the 10th best-performing among the top 50 metros, adding 18,500 jobs, or 1.4% growth, in the year ending in May (USBLS)
San Antonio Multifamily Market
| Average Rent: | $1,231 |
| Average Occupancy (%): | 93.0% |
- Supply in San Antonio is expected to decline sharply in 2026, with ~4,800 units under construction, a 76% reduction from the 2Q23 peak, positioning the market for strong rent growth in 2027 to 2029 (RealPage)
- The market has reported several positive developments that indicate stability has been achieved and recovery is on the horizon, notably: a below-average under-construction pipeline, annual demand outpacing annual supply growth, and an annual uptick in occupancy
- With a diversified economy and steady investment, San Antonio continues to grow, propelled by expansions in advanced manufacturing, data centers, and cybersecurity, along with the South Texas Medical Center’s $18 billion annual impact, underscoring healthcare’s vital role in the region’s economy