{"id":8628,"date":"2024-11-28T07:10:00","date_gmt":"2024-11-28T07:10:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8628"},"modified":"2025-04-14T07:43:59","modified_gmt":"2025-04-14T07:43:59","slug":"austin-multifamily-market-report-november-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/austin-multifamily-market-report-november-2024\/","title":{"rendered":"Austin Multifamily Market Report \u2013 November 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/austin-multifamily-market-report\/\">Austin Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Strong Supply Still Dominates Market<\/h2>\n<p>High supply continued to affect Austin multifamily, even as rental demand remained healthy, according to the latest Yardi Matrix Austin multifamily market report. Advertised asking rents slid 10 basis points on a trailing three-month basis through September, to $1,614. Year-over-year, the rate fell 4.9%, the largest decline among Yardi Matrix\u2019s top 30 metros, but the figure was still an improvement compared to a year ago. Meanwhile, the national rate rose 0.9% on a yearly basis, to $1,750, as noted in the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>U.S. multifamily report<\/strong><\/a>. Austin\u2019s occupancy in stabilized properties fell 20 basis points year-over-year, to 93.1%, with the working-class segment taking a significant hit.<\/p>\n<p><iframe id=\"datawrapper-chart-qmrIF\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Austin vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/qmrIF\/1\/\" height=\"328\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Austin job growth moderated to 2.0%, or 18,900 net positions, in the 12 months ending in July. However, the metro still led the U.S. average by 70 basis points. Government (8,000 jobs) and leisure and hospitality (5,200 jobs) led gains, while professional and business services and information lost 7,500 positions combined. Meanwhile, Austin unemployment stood at 3.4% as of September, better than the U.S. and Texas (both at 4.1%), according to preliminary Bureau of Labor Statistics data.<\/p>\n<p><iframe id=\"datawrapper-chart-4Lk0q\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Austin Employment Share by Sector \" src=\"https:\/\/datawrapper.dwcdn.net\/4Lk0q\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Austin\u2019s historic pipeline remained its top headline-worthy metric, with 15,666 units delivered in the first three quarters of 2024 and another 50,248 apartments under construction as of September. Transaction activity, however, slowed down. Just $740 million in assets traded year-to-date through September, a little over half the volume recorded during the same months of 2023.<\/p>\n<p>Read the full Yardi Matrix Austin Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6500-MatrixMultifamilyAustinReport-November2024\"><strong>November 2024<\/strong><\/a><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strong Supply Still Dominates Market High supply continued to affect Austin multifamily, even as rental demand remained healthy, according to the latest Yardi Matrix Austin multifamily market report. Advertised asking rents slid 10 basis points on a trailing three-month basis through September, to $1,614. Year-over-year, the rate fell 4.9%, the largest decline among Yardi Matrix\u2019s [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[464,511],"class_list":["post-8628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-austin","tag-multifamily-outlook-2024"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Austin Multifamily Market Report \u2013 November 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Austin\u2019s elevated deliveries, up by another 15,666 units year-to-date, kept rent movement negative, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/austin-multifamily-market-report-november-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Austin Multifamily Market Report \u2013 November 2024\" \/>\n<meta property=\"og:description\" content=\"Austin\u2019s elevated deliveries, up by another 15,666 units year-to-date, kept rent movement negative, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/austin-multifamily-market-report-november-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-28T07:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-14T07:43:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Austin-iStock-2178741473.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Austin Multifamily Market Report \u2013 November 2024 - 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