Austin Multifamily Market
| Average Rent: | $1,634 |
| Average Rent (Price/SF): | $1.89 |
| Average Occupancy (%): | 91.4% |
According to Zumper, Austin experienced a 13.5% asking rent increase for one bedroom apartments and a 13.0% increase in two bedroom apartments in 2022. 14,954 new units were added to Austin’s inventory during 2022, while 7,683 units were absorbed. Austin’s multifamily sales price per unit for the fourth quarter averaged $254,276, representing a 4.7% year-over-year increase.
Download Austin Multifamily Market Update 4Q22San Antonio Multifamily Market
| Average Rent: | $1,219 |
| Average Rent (Price/SF): | $1.42 |
| Average Occupancy (%): | 90.8% |
Effective rental rates in San Antonio increased 2.2% year-to-date, demonstrating resilience despite a national economic slowdown. 3,206 new units were added to San Antonio’s inventory during the fourth quarter, while 2022 ended with 6,349 total units added. San Antonio’s average sales price per unit was $152,948 in the fourth quarter, representing a 4.82% year-over-year change.
Download San Antonio Multifamily Market Update 4Q22