Although a record number of new units are opening in Central Texas this year amid an ongoing apartment-building boom, rents are continuing to rise due to robust job creation, particularly in the high-tech sector, according to Marcus & Millichap's fourth quarter 2014 report.
Builders are due to wrap up construction on more than 14,500 apartment units in Central Texas this year, the highest level of new supply since at least 2000.
As of the end of September, rents averaged $1,078 a month, a 6.2 percent increase from September 2013.
Read more...Will new supply ease Austin’s apartment rents?
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.