Year to date, the Austin market boasts one of the highest rates of employment growth nationwide, helping improve apartment operations.
After adding 2,600 units to the metro in 2010, developers will slow completions to 320 units this year.
Asking rents will climb 3.1 percent to $885 per month in 2011, while effective rents increase 3.6 percent to $805 per month. Last year, asking rents inched up 1.7 percent and effective rents pushed up 2.6 percent.
Read more...NewsTalk Texas - Austin area apartment 4Q 2011: Marcus & Millichap