Luxe Austin Homes - landlord

"Where tens of thousands of new apartments will rise between Austin, San Antonio"

Posted by Grossman & Jones Group on October 12th, 2023

Austin Business Journal reports, "the San Antonio and Austin metros have more more than 55,000 apartment units under construction, highlighting the immense fortune developers are poring into the emerging metroplex.

Just looking at the I-35 corridor between the two big cities, 23,000-plus units are proposed, under construction or have come online in the past 12 months, according to data from MRI ApartmentData, a multifamily analytics firm tracking Sun Belt markets.

That shows multifamily developers and investors are eager to keep pouring money into dense housing in the region. To be sure, there are thousands of single-family homes in the pipeline as well, although many experts have said denser, more affordable housing is desperately needed to…

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Austin rent prices increased nearly 10 percent from 2022, report finds

Posted by Grossman & Jones Group on March 16th, 2023

CultureMap Austin writes, "apartment rent keeps going up in Texas, and in Austin the increase is nearly 10 percent more than last year, making it increasingly difficult to afford living in the city. That’s according to a new national rent report from online rental marketplace Zumper.

Despite rent increases showing a small slowdown month-over-month, overall prices are still on the high side from the previous year. For example, the average rent for a two-bedroom apartment in Austin is $2,070 now, in March of 2023, which is a one percent increase from the previous month, but a nearly 10 percent increase from 2022 at 8.4 percent. The average rent for a one-bedroom is $1,670, which is a mere .60 percent increase month-over-month, but a whopping 7.7…

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