Marcus & Millichap, a commercial real estate investment firm and think tank stated in their 4th quarter report that the Austin residential rental market will continue to be strong going into next year. The report stated that rising home prices will create a strong demand for apartments (and I add therefore a strong demand for single family rentals). They predict apartment vacancies will hover around 4.3% (a 5% vacancy rate = full). The average rental rate for apartments is projected to be $1,158. Keep in mind that single family dwelling rental rates are higher. So as 2015 starts to close the door and we begin to peek into 2016, I see the glitter of gold and the ka-ching of cash registers as rents continue to pour in the coffers.
Rick Ebert / Austin, Texas / 13 Nov 15