Happy Fourth of July, everyone!



As we celebrate Independence Day, let’s keep it brief and exciting. This week, we're spotlighting Texas travel spots and the best Hill Country openings—perfect for your mid-summer plans. Don’t miss InstaBuilt's innovative first U.S. homes launching in Austin’s Whisper Valley. Curious about InstaBuilt? Click Here.

We’ve got the latest Austin Multifamily Quarterly Update with key stats and trends. Plus, blending our 4th of July patriotism with smart investments, check out insights into the top military markets for 2024. These markets promise solid cash flow and great investment opportunities.

Enjoy the festivities and stay informed with our latest real estate insights!

Q2 | 2024 The Austin Multifamily Market Report

M&M's Q2 Multifamily Report is out, and here's the Jest: Austin's rental market has been on fire, thanks to 442,900 new residents over the last decade. This surge in population drove a spike in demand for new units, leading to a construction boom over the past two years. While this caused short-term rent dips and higher vacancies, a rebound is expected with record-high occupancy by year's end.

Construction

Austin leads the nation with 6% of new U.S. housing completions. Downtown sees 2,200 new units, while Round Rock-Georgetown is booming with construction. Companies like Amazon anticipate growth, fueling demand. Despite high vacancies now, the long-term outlook is bright.

Employment

Austin's job market is thriving, set to be a top-five growth market in 2024. Expect a 2.3% employment boost with 13,500 new jobs, mainly in office sectors. This job growth draws new residents, increasing demand for housing and boosting the local economy.

Vacancy

Vacancy rates rose to 7.7%, among the highest in major U.S. markets, due to new construction outpacing absorption. However, areas like Arboretum and Cedar Park kept rates below 7%. Expect stabilization as Austin's population and job market grow, absorbing new units.

Rent

Rents are rebounding after last year's dip, expected to reach $1,602/month by December. This is $200 more than San Antonio and Houston. While Q1 saw a rent drop across all tiers, Class A properties only dipped 3.2%. Rising rents and high occupancy signal a promising market ahead.

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