Nov 6, 2013
Austin apartments Jan.-Sept.: Marcus & Millichap
AUSTIN - Austin’s economy will strengthen further over the next year, with local gross domestic product forecast to push past $100 billion for the first time in history, according to...
AUSTIN – Austin’s economy will strengthen further over the next year, with local gross domestic product forecast to push past $100 billion for the first time in history, according to the most recent Marcus & Millichap quarterly report.
Developers completed 4,470 apartments during the first nine months of 2013. In the same period last year, approximately 2,330 units were brought online.
| Rank | Submarket | Vacancy Rate | Effective Rents | Y-O-Y Change |
| 1 | Downtown/University | 3.3% | $2,002 | 4.1% |
| 2 | Arboretum | 3.5% | $1,019 | 6.3% |
| 3 | North Central Austin | 3.5% | $816 | 8.5% |
| 4 | Northwest Austin | 3.6% | $975 | 4.7% |
| 5 | South Austin | 3.9% | $1,142 | 5.3% |
| 6 | Far West Austin | 3.9% | $1,016 | 4.4% |
| 7 | Pflugerville/Wells Branch | 4.0% | $906 | 6.3% |
| 8 | Round Rock/Georgetown | 4.1% | $943 | 4.4% |
| 9 | Southwest Austin | 4.3% | $1,195 | 2.9% |
| 10 | Near North Austin | 4.5% | $1,064 | 6.4% |
*ranked by vacancy
Read more at Marcus & Millichap Real Estate Investment Services.
Visit Austin Market Data Sources for free stats and data!
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