To illustrate the price of rent in Austin is to draw a steep, steep hill. But for the past few months, that hill has leveled off as landlords have dropped rent prices. April rent numbers marked the first annual decrease in average rent since early 2021.
But for the past few months, that hill has leveled off as landlords have dropped rent prices. April rent numbers marked the first annual decrease in average rent since early 2021, according to data from ApartmentData.com.
Employees of ApartmentData.com survey landlords each month to see what they’re charging for new leases. The real estate data firm solicits information largely from landlords who own 50 or more apartments — meaning that the rents charged by small-time landlords are not typically represented in the data.
At the same time, a larger portion of apartments are sitting vacant. This month, roughly 11% of the apartments owned by landlords surveyed by the firm were empty. This time last year that number was closer to 8%. As the lease’s expiration date inched closer, Venticinque said she and her boyfriend began talking about moving out, anticipating a rent increase above what they could afford. Venticinque said she began scouring Zillow, looking at rental homes nearby. One she saw had been listed for $1,000 more a month than she was currently paying.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Late Will Bruin Goal Secures Draw for Austin FC in PortlandJon Gallagher extended his unlikely lead as Austin FC top scorer to earn the Verde and Black a draw, 2-2, against the Portland Timbers.
Read more »
Bruin’s late goal gives Austin a 2-2 draw over PortlandThe Timbers were coming off a 2-1 win on the road against St. Louis City, while Austin FC hasn’t won a game since March 11.
Read more »
Austin weather: Daily storm chances in the forecastMay is typically Central Texas's wettest month of the year, and long-range models have us wetter than average. FOX 7 Austin meteorologist Adaleigh Rowe has your look ahead.
Read more »
Drive-by shootings in North Austin neighborhood leave residents living in constant fearNorth Austin residents living on Tuffit Lane have witnessed four drive-by shootings in their neighborhood since April 20.
Read more »