Welcome to Austin Info Thread... (Spring: rental market, how much, houses)

[CptnRn]

Novak: As area apartment supply booms, will renters get some relief?... mystatesman.com

Posted: 12:00 a.m. Saturday, March 1, 2014The supply of apartments hasn’t kept up with demand, and that has pushed up rents and made bargains rare. The imbalance was brought on as the economic downturn halted apartment construction, and now the thousands of new units under construction represent the market trying to play catch up even as it tries to keep pace with continued new demand amid the region’s job and population growth.



But for those who remain in the rental ranks, 2014 could bring a welcome change, some local housing experts say. With 11,000 new apartment units due to come into the market this year, the basic laws of supply and demand should keep rents flat, or headed up only up slightly, for the first time in recent years.


That’s the outlook from real estate consultant Charles Heimsath, who as president of Capitol Market Research has been tracking the apartment market since 1988. Heimsath’s crystal ball calls for rents to rise “0 to 1 percent” following an 8 percent jump in average rents citywide in 2013 over 2012. He thinks rents will tick up the first half of the year, then stabilize or decline during the final six months, balancing out to end the year about even with this year.

There were some graphic charts in the print newspaper that indicated the following:

Average rent for 1 bedroom, 1 bath has risen from $725 Dec, 2010 to $910 Dec, 2013.

Average rent for 2 bedroom,21 bath has risen from $990 Dec, 2010 to $1,190 Dec, 2013.

Occupancy rate has risen from 95% Dec. 2010 to 96.9% Dec, 2013. Down slightly from June 2012 which I'm guessing was around 98%

Currently, 13,712 apartment units are under construction in the Austin area, with 11,000 of those due to open this year. Next year, Heimsath expects about 6,000 to 7,000 rental units to come online.
In the past two years, just over 4,200 units and nearly 6,700 units units were completed in 2012 and 2013, respectively. Even if only half the 11,000 units get leased, the area’s average occupancy rate should still end the year above 93 percent, which is still a market leaning in landlords’ favor, he said.

[Idlewile]

This is why the experts on this forum will advise potential newcomers to wait to select where to live AFTER you know where you'll be working. For those relocating from larger cities, assuming that anything here can't be as bad as where you came from, think again.... The Austin commute is no joke.

Austin traffic worse than NYC, study says | Austin News & Weather | Austin Texas, Round Rock, TX | kxan.com

[CptnRn]

http://www.city-data.com/forum/austi...h-schools.html

[CptnRn]

Home values increasing throughout area | www.statesman.com

http://www.city-data.com/forum/austi...ing-go-up.html

Experts: In Austin, no housing bubble | www.statesman.com

Austin renters face soaring costs in

Austin's Rising cost of living raises questions about how can live here

2013 was record year for Central Texas home sales | www.statesman.com

An economic divide: As Austin

[CptnRn]

Austin Post | Austin News & Information

Austin's economic boom is expected to continue surging through 2019, according to an Austin economist who presented his forecast to City Council last week. But John Hockenyos of Texas Perspective Inc., an economic and public policy consulting firm, also cautioned that the kind of economic growth the city is expected to achieve cannot be sustained without continued substantial population growth. Austin's economic boom is expected to continue surging through 2019, according to an Austin economist who presented his forecast to City Council last week.

But John Hockenyos of Texas Perspective Inc., an economic and public policy consulting firm, also cautioned that the kind of economic growth the city is expected to achieve cannot be sustained without continued substantial population growth.
Hockenyos’ projections forecasted a surge of growth in tourism, hotel occupancy, the housing market, multi-family residences, jobs, and manufacturing.

“I can’t find any reason to say that the Austin area is not the strongest regional economy in the country,” he said. “Every single segment of our local economy is experiencing growth, everything from manufacturing to construction to all different kinds of services and consumer spending — everybody’s adding jobs.”

Nearly 33,000 jobs are expected to be added in 2014, followed by 30,100 in 2015. But one thorn on this rose will be the further tightening of the housing market, as the upsurge in population is expected to put more strain on the housing supply. Austin's economic boom is expected to continue surging through 2019, according to an Austin economist who presented his forecast to City Council last week. But John Hockenyos of Texas Perspective Inc., an economic and public policy consulting firm, also cautioned that the kind of economic growth the city is expected to achieve cannot be sustained without continued substantial population growth.

[Idlewile]

Curious HOW HOT 'summer' is in Austin? Spend some time looking at the numbers….

Summer 2011
Summer weather data | kvue.com | Austin Breaking News, Weather, Traffic, Sports - KVUE.com

Summer 2013

MAY 2013
Number of days temps 98+ =
Number of day temps 100+ =
Highest high during the month = 96 degrees


JUNE 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 13 days
Number of day temps 100+ = 5 days
Highest high during the month = 108 degrees

jULY 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 17 days
Number of day temps 100+ = 11 days
Highest high during the month = 105 degrees

AUGUST 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 25 days
Number of day temps 100+ = 20 days
Highest high during the month = 107

SEPTEMBER 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 9 days
Number of day temps 100+ = 6 days
Highest high during the month = 104

OCTOBER 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 0
Number of day temps 100+ = 0
Highest high during the month = 93
Mean temp: 85

[CptnRn]

http://www.city-data.com/forum/austi...ustin-new.html

[roadrunner1]

Originally Posted by Idlewile

Curious HOW HOT 'summer' is in Austin? Spend some time looking at the numbers….

Summer 2011
Summer weather data | kvue.com | Austin Breaking News, Weather, Traffic, Sports - KVUE.com

Summer 2013

MAY 2013
Number of days temps 98+ =
Number of day temps 100+ =
Highest high during the month = 96 degrees


JUNE 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 13 days
Number of day temps 100+ = 5 days
Highest high during the month = 108 degrees

jULY 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 17 days
Number of day temps 100+ = 11 days
Highest high during the month = 105 degrees

AUGUST 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 25 days
Number of day temps 100+ = 20 days
Highest high during the month = 107

SEPTEMBER 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 9 days
Number of day temps 100+ = 6 days
Highest high during the month = 104

OCTOBER 2013 Weather History for Austin, TX | Weather Underground
Number of days temps 98+ = 0
Number of day temps 100+ = 0
Highest high during the month = 93
Mean temp: 85

Would be nice to add humididy to the numbers!

[Idlewile]

WELCOME! ARE YOU LOOKING FOR RELOCATION ADVICE FROM THE AUSTIN C-D FORUM?

PLEASE ANSWER THIS NEWCOMER QUESTIONNAIRE FOR US:


1) What is your budget?

2) How large of a house do you need? what kind of views? what size lot? how old? updated? style? HOA?

3) What part of town is your job? What type of job (planning for the next job)

4) What kind of commute is acceptable?

5) What kind of schools are you looking for?
(special needs, highest rating, nerdy, gifted, ethnic diversity, economic diversity, strength in particular sports, private, religious etc)

6) What hobbies do you/kids have?
(things like keeping chickens, horses, hockey, wakeboarding, golf may dictate where you should live)

7) What kind of entertainment are you looking for?
(big box shopping, boutique shopping, bars/nightlife, hanging out on the water)

8)Briefly describe the kind of neighborhood you'd like to live in
(examples: families with young children, young, mature, artsy, diverse, safe, close-knit, block parties, etc)

9) List three things that are important to you in order of importance.(examples: nightlife, outdoor activities, rural/urban, safety, downtown area, charming, new construction, proximity to XYZ, family oriented, easy parking, short commute, etc)

[CptnRn]

Where are people moving to Austin coming from?

In/Out Interstate Migration Dashboard

American Migration [Interactive Map] - Forbes

Austin Post | Austin News & Information