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AUSTIN APARTMENTS ARE HOT AS TEXAS SUMMER
AUSTIN (Austin
American-Statesman) – Like the
sweltering Texas summer heat, rental rates are at an all-time high and
occupancies are rising, making the Austin apartment market one of the
healthiest in the nation.
The area’s job
growth and a limited number of apartment units under construction are
behind these increases.
“In my 25 years of
analyzing the apartment market in Austin, I’ve never seen things as
tight as they are right now,” said Charles Heimsath, president of
Austin-based real estate consulting firm Capitol Market Research.
Heimsath predicts
occupancy rates for Austin area apartments as high as 97 percent by the
end of the year.
Courtesy of
RECON
Real
Estate Center Online News
August
16, 2011
Copyright 2011. All rights reserved.
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