Austin Rental Market Update – Jan 2007

The Austin Rental market keeps chugging along, not burning up any records, but a slow march back toward the better rental rates Austin landlords once enjoyed. Below are the rental stats for January 2007. Since we’re at the start of the year, I’m not doing a Year-to-Day, as obviously that would just be January anyway, but I’ve included the 2005/2006 full year comparisons further below, from my year-end Austin Rental Market Summary summary last month. Also below is the Austin rental rate trend graph from 1999 through 2006.

Austin Leasing Stats Jan 2007
Previous Month and Year Comparison
All MLS Areas - Houses Only

 
Dec 2006
Jan 2007
Jan 2006
Yr % Change
# Leased
538
594
579
2.6%
Avg List Price
$1248
$1239
$1182
4.8%
Median List Price
$1150
$1150
$1100
4.5%
Avg Leased Price
$1238
$1235
$1173
5.3%
Med Leased Price
$1150
$1145
$1100
4.1%
Avg Size SQFT
1864
1876
1785
5.1%
Median SQFT
1747
1771
1719
3.1%
Avg $ per SQFT
$0.65
$0.66
$0.66
0%
Avg Days on Mkt
60
61
47
30%
Median Days on Mkt
51
50
51
2%

Below is the 2005/2006 full year comparison.

Austin Leasing 2005/ 2006 Comparison
All MLS Areas - Houses Only

 
All 2006
All 2005
Yr % Change
# Leased
8042
5949
35%
Avg List Price
$1268
$1249
1.4%
Median List Price
$1150
$1150
0
Avg Leased Price
$1256
$1237
1.4%
Med Leased Price
$1150
$1150
0
Avg Size SQFT
1850
1806
2.4%
Median SQFT
1750
1701
2.9%
Avg $ per SQFT
$0.68
$0.68
0
Avg Days on Mkt
54
60
-10%
Median Days on Mkt
43
48
-10%

Below is the 2005/2006 Rental Market breakdown by Austin MLS Area.

Austin Leasing Stats - Year 2006 Final
by MLS Areas- Houses Only

MLS Area
# of Homes Leased
Avg $
Amt Leased
Avg
SQFT

Avg $
Per
SQFT

Avg
Days
Avg Yr Built
2005
2006
%Chg
2005
2006
%Chg
Area 1A
34
26
-24%
$2045
$2101
3%
2225
$0.94
36
1978
Area 1B
198
193
-3%
$1676
$1847
10%
1593
$1.16
44
1947
Area 1N
174
191
10%
$1261
$1370
9%
1831
$0.75
42
1983
Area 2
128
146
14%
$1052
$1152
9%
1222
$0.94
38
1957
Area 2N
117
133
14%
$1015
$1063
5%
1446
$0.74
56
1975
Area 3
137
169
23%
$1095
$1123
3%
1389
$0.81
51
1962
Area 3E
26
61
135%
$976
$1067
9%
1448
$0.74
67
1994
Area 4
132
161
22%
$1422
$1556
9%
1395
$1.12
52
1955
Area 5
83
147
77%
$994
$1011
2%
1215
$0.83
58
1968
Area 5E
40
70
75%
$1030
$1008
-2%
1674
$0.60
70
2002
Area 6
71
104
46%
$1359
$1390
2%
1266
$1.10
39
1954
Area 7
37
28
-24%
$1455
$1572
8%
1439
$1.09
37
1957
Area 8E
41
40
-2%
$2456
$2631
7%
2412
$1.09
39
1978
Area 8W
89
93
4%
$2124
$2155
1%
2494
$0.86
41
1990
Area 9
26
20
-23%
$1140
$1114
-2%
1371
$0.81
41
1977
Area 10
447
588
32%
$1086
$1144
5%
1530
$0.75
43
1986
Area 11
89
129
45%
$985
$994
1%
1449
$0.69
58
1989
Area BA
75
74
-1%
$991
$982
-1%
1641
$0.60
40
1986
Area BL
-
-
-
-
-
-
-
-
-
-
Area BU
2
4
100%
$1042
$1097
5%
1589
$0.69
35
1985
Area BW
11
16
45%
$965
$971
1%
1572
$0.62
61
1987
Area CC
4
5
25%
$986
$895
-9%
1294
$0.69
29
1987
Area CL
738
975
32%
$1130
$1173
4%
1994
$0.59
53
2000
Area EL
13
19
46%
$914
$1025
12%
1890
$0.54
73
2001
Area FC
-
-
-
-
-
-
-
-
-
-
Area GP
-
-
-
-
-
-
-
-
-
-
Area GT
118
165
40%
$1150
$1181
3%
1855
$0.64
52
1995
Area HD
40
86
115%
$1483
$1675
13%
2243
$0.75
59
1999
Area HH
301
419
39%
$1077
$1078
0%
1816
$0.59
53
2003
Area HS
21
8
-62%
$1058
$1114
5%
1769
$0.63
92
2002
Area HU
177
273
54%
$1064
$1030
-3%
1884
$0.55
68
2004
Area HW
28
33
18%
$1124
$1236
10%
1741
$0.71
73
?
Area JA
2
3
50%
$1000
$1383
38%
1604
$0.86
58
2004
Area LC
-
-
-
-
-
-
-
-
-
-
Area LH
2
4
100%
$1047
$1400
34%
1928
$0.73
23
1983
Area LL
-
-
-
-
-
-
-
-
-
-
Area LN
55
81
47%
$1261
$1244
-1%
1683
$0.74
62
1987
Area LS
170
193
14%
$1672
$1767
6%
2157
$0.82
54
1993
Area MA
100
139
39%
$1117
$1041
-7%
1822
$0.57
80
2004
Area MC
-
-
-
-
-
-
-
-
-
-
Area N
161
172
7%
$1162
$1185
2%
1736
$0.68
48
1990
Area NE
100
199
99%
$1060
$1134
7%
1799
$0.63
57
1997
Area NW
241
259
7%
$1211
$1276
5%
1916
$0.67
49
1986
Area PF
455
648
42%
$1197
$1144
-4%
1936
$0.59
62
2000
Area RN
53
113
113%
$2312
$2310
0%
2876
$0.80
53
2001
Area RR
775
1244
61%
$1176
$1186
1%
2024
$0.59
58
1999
Area SC
20
50
150%
$1258
$1186
-6%
2022
$0.59
55
2000
Area SE
33
64
94%
$1040
$1057
2%
1875
$0.56
70
2002
Area SV
6
6
0%
$1083
$940
-13%
1560
$0.60
53
1976
Area SW
311
415
33%
$1470
$1480
1%
2139
$0.69
46
1995
Area TC
9
16
78%
$837
$816
-3%
1447
$0.56
61
1975
Area W
56
67
20%
$1651
$1754
6%
2150
$0.82
58
1989
Area WE
-
-
-
-
-
-
-
-
-
-
Area WW
-
-
-
-
-
-
-
-
-
-

Below is the 1999 through 2006 rental trend graph for Austin TX.
Austin Rental Market

Posted by Steve
9 years ago
Steve

Steve is a Real Estate Blogger, Husband and Dad, UT Austin Grad, Runner, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

Click Here to Leave a Comment Below

Michael - 9 years ago

Steve,

Thanks for crunching these numbers, they show a trend we’ve been seeing for sometime. FYI – We pass your efforts/information on to our clients in a effort to keep them informed about the market.

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