Austin Monthly recently published an article about the incredible growth Austin is experiencing and what that means for investors in the real estate market. While it’s no secret that Austin is the most desirable real estate market in the country this year, there are some renting related things to be aware of.
Here are some Austin real estate market trends to be aware of this Summer, as according to Austin Monthly.
Renters Can Afford More
With the incredible job market growth, there’s been an onslaught of highly educated people moving to the area. This means rents are on the rise. And because Austin is such an amenity-filled area, people are willing to pay more for rent.
But here’s the good news. An apartment locator knows about all the rent specials in the area and can find you the best bang for your buck!
Occupancy Rates Are High
No one wants to rent in an area where occupancy rates are low, but that’s not an issue in Austin. Occupancy rates have always been high in Austin since it’s consistently a hot area. But it’s gotten even more alluring in recent months. A hot real estate market means fewer vacancies, and in many cases, it also means longer leases or the possibility of tenants renewing their lease.
This makes searching for an apartment on your own difficult. Properties are going fast! Your best bet is to have a locator looking out for properties so you’ll alway know what’s available for your time frame.
The Job Market Is Strong
The pandemic made the area even more desirable for big technology companies. The following companies have either moved or are moving to the Austin area within the next year:
- Charles Schwab
This is just a shortlist of who’s moving to the area. With large companies taking over the area, it means thousands of people will need housing.
You can get more details about the real estate market trends by reading the entire article here.
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