May Leasing Statistics

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The Austin leasing market is still VERY tight. Even with an increase in inventory, we still see MULTIPLE OFFERS on solid lease properties. Apartments are 95% occupancy city wide —– in popular areas they are at 97% and some have waiting lists.  So, if you are your college student is moving to Austin and plan to lease, start looking NOW! The markets changes on an hourly basis in some areas!

Investors, it is a good time to buy MORE rental property, even though supply is up.  US Census figures show from July 2013 to July 2014 the number of people moving to the Austin area was 157 new people per day and City of Austin Demographers estimate 110 per day. Either way, there are a lot of people moving here EVERYDAY! Opportunities are abundant…Angelos Angelou (angeloueconomics.com/) predicts the Austin area will add 70,000 ate a create conducive investment market! The following table gives a graphic snapshot of the hot Austin leasing market…from both sides:

Total Lease Properties Median Price per Single Family Median Price per Total Total Home
Home, Condo, TH & Dpx Price Foot Homes for Lease Price Foot Leases Leases
1-May 1,281 2014 1.29 675 2014 1.08 Total Houses
2014 12 mo 12 mo 3,757 2,404
$1,395 $1,595 2014 2014
4 mo 4 mo
1-May 1,563 4 mo 1.44 687 4 mo 1.18 Total Houses
2015 $1,500 $1,600 3,823 2,385
2015 2015
4 mo 3 mo
% ^ 22% 7.50% 2% Level 2% Level
1 year

Sources:

Texas Real Estte Center                http://recenter.tamu.edu/Data/hs/hs140b.htm

Multiple Listing Service

REALTOR.com          www.reltor.org/

MetroStudy Austin  www.metrostudy.com/view_market.php?id=10

MPF Research Greg Willett   www.realpage.com/market-research/mpf/

Capital Market Research  http://cmraustin.com/

JB Goodwin REALTORS®  

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