I was recently interviewed by KVUE for an article about rising rents in #Austin. Rents continue to arise despite lots of #apartment construction. In fact, 12,000 new units are expected to open in the next year.
However, since almost all the construction is in hot, trendy areas around downtown, it isn't causing a relief in prices. If we did see more new construction outside of those areas, prices might go down.
Downtown, renters would be very lucky to find a studio apartment for $1500. Across Austin, if anything is below $800, you'll have to be on a wait list for something to open up.
Prices do go down in the Fall and Spring, so if you can wait, you may be rewarded with lower prices.
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