Austin Rental Market Update – Nov 2011

Rents continue to rise in Austin as more buyers opt to be renters and the supply of homes shrinks relative to demand. See the graph below for a snap shot of the wild ride Austin rental rates have taken since 1999.

Austin Rental Market 1999 thru Nov 2011
Austin Rental Market 1999 thru Nov 2011

It took over a decade for Austin’s rental rates to return to their 2001 peaks. Good for renters but it’s been a rough 10 years for landlords. And not all homes are back to pre-2001 rates, these are just the averages.

For November 2011 compared to a year ago, let’s take a look at the chart below.

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