Study: Austin has hot apartment market
Mar 12, 2014
Austin Business Journal
Austin is the second-hottest apartment boom town in America, according to a report from Austin-based storage company Sparefoot Inc.
The report, which crunched Census data on population growth, percentage of population spending more than 35 percent of income spent on rent, and average growth-per-capita in construction permits, found that Austin's apartment market is second only to tech hub San Jose, Calif.
Austin has about 41.7 percent of its population spending more than 35 percent of income on rent, as well as average annual population growth of three percent, per capita personal income growth of 1.5 percent, and per capita GDP growth of 2 percent
The Austin area is in the midst of an apartment-building boom. Some 11,500 units will be completed this year, about double last year’s additions
Several Texas cities cropped up on the Sparefoot list. Houston was ranked third on the list of apartment boom towns, while the Dallas-Fort Worth metroplex was ranked ninth, and San Antonio 13th