Austin Multifamily Market
Average Rent: | $1,502 |
Average Occupancy (%): | 93.9% |
- 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 Market Analytics)
- The market has reported several positive developments that indicate stability has been achieved and recovery is on the horizon, notably: an uptick in occupancy, a decline in the number of excess apartments being delivered into the market, and strong year-to-date absorption (12,453 units)
- 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: | $1,237 |
Average Occupancy (%): | 93.2% |
- Supply in San Antonio is expected to decline sharply in 2026, with ~6,000 units under construction, roughly 70% below the 1Q23 peak, positioning the market for strong rent growth in 2027 to 2029 (RealPage Market Analytics)
- The market has reported several positive developments that indicate stability has been achieved and recovery is on the horizon, notably: above average demand, modest quarterly rent growth and an uptick in occupancy from quarterly demand outpacing deliveries
- With a strong economy and ongoing investment, San Antonio continues to experience growth, supported by major developments such as the proposed $4 billion Project Marvel sports and entertainment district and the continued growth of cybersecurity and tech sectors, all contributing to the region’s economic momentum