Broad-based economic gains combined with the metro’s already favorable demographics have fueled demand for housing in Central Texas, which has generated strong revenue growth for the apartment sector, according to the latest report from MPF Research.
Such solid demand for apartments has strengthened the market’s fundamentals and led to elevated levels of apartment development.
Occupancy has hovered around the 95 percent mark for over three years. In response to the high occupancy, apartment operators have pushed rents around 4 percent to 7 percent annually for 14 straight quarters.
Read more...MPF Research: Austin multifamily 3Q 2014