Steve’s Austin Rental Market Update – August 2005
By Steve Crossland
Average rents in Austin are rising each month in 2005 according to MLS Leasing stats. It’s too soon to know if this marks a turnaround for the Austin Rental Market, but the trend is encouraging for residential landlords and Property Managers. See the graphs and details below.
Median rents have also risen this year, but, at $1150, remain at the same level as the 2003 and 2004 median rent price.
Despite improvement, Austin’s rental market has not yet returned to the rental rates enjoyed in 1999!
Austin Rental Market June 2005 Year to Date Stats:
- Average Days on Market for Leased homes was 62 Days
- Average size of rented homes was 1792 square feet.
- Average Price per square foor of rented homes in Austin was $0.69.
Aug 1st 2005 Quik-Stats
- Active Listings: 1261
- Pending Leases: 289
- Months Inventory: 2.91 mos.
- Current Avg, List: $1416
- Current Median List: $1240
- Median DOM = 30 Days
Download a printable pdf version of Steve’s Austin Rental Market Update here.