As expected, the second quarter 2014 was solid for the local apartment market, according to Austin Investor Interests.
Occupancy rates increased .29 percent, while effective rental rates increased 1.34 percent, finally breaking the $1-per-sf mark. Absorption levels have remained robust, with over 4,700 more units occupied than at midyear 2013.
New construction is faring especially well, as stabilized Class A units are showing an overall occupancy rate of over 94 percent, with rental rates at $1.20 per sf.
Read more...San Antonio: Austin Investor Interests 2Q 2014 apartments via Real Estate Center at Texas A&M