It’s no secret that real estate in these two sisters cities is on fire! Whether you are interested in relocating to Austin or just curious about the demand in apartment rentals, here how San Antonio compares to Austin in market trends for 2015.
Austin is a great place to live and work in, and developers are capatalizing. Austinites are paying almost 6% more in rent than this time last year, but that is not stopping them from continuing to rent. Apartment demand took a dip early in the year, but came back in Q3 with an increase even with monumental inventory hitting the market.
In the next several months we can anticipate many more apartment units to hit the market, while rent continues to climb because of the newer higher priced inventory. It is that much more important that if you are renting in Austin that you utilize a licensed apartment locator when searching for an apartment rental in Austin.
San Antonio as a city has done an excellent job in attracting young professionals. The multi-family market is ever expanding, while rent continues to rise. Hundreds of new apartments are absorbed into the market quarterly, and there are hundreds more on the drawing board.
Although San Antonio renters are paying almost 5% more in rent than last year, occupancy rates departed from the norm in Q3. The decline in apartment demand that quarter can be related to the reduction in the hospitality workforce which clearly affected the city unemployment rate.As Q3 is typically the trend setter, we can expect Q4 to remain stable.
Whether you are moving to San Antonio or Austin you can depend on our licensed apartment locators to help find you a place to live. If you are new to the city or simply want the help of an expert evaluating where to call home, San Antonio Apartments Now can save you time and money in the rental process!