Multifamily Pulse Surveys
We collect short, anonymous surveys from multifamily property owners in Austin to understand market sentiment before it shows up in headlines. Insights focus on owner expectations, rent growth, leasing trends, and more.

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The East Austin Survey is currently live. More neighborhood-specific surveys and reports are in progress. Participants receive early access to summary results and gain a broader view of what other owners are thinking.
Austin Multifamily Market Update – June 2025
Austin's multifamily market remains in flux midway through 2025 as it works through an unprecedented wave of new supply. After delivering over 31,000 new units in 2024, the market is seeing elevated vacancies, softening rents, and intense competition among landlords. However, strong job growth and a healthy absorption rate offer signs of stabilization ahead.
Key Takeaways:
  • Occupancy & Vacancy: Overall occupancy sits in the low-92% range, with total vacancy (including new lease-ups) nearing 15%—the highest of any major U.S. market.
  • Rents: Asking rents declined ~5% YoY, with two-bedroom units down roughly 17% from their 2022 peak. Concessions are common, especially in Class A properties.
  • Construction & Supply: Deliveries are slowing after a historic peak. Roughly 12,000–13,000 units are expected in 2025, down from 31,000 last year.
  • Leasing Trends: Absorption is improving—Q1 saw more units leased than delivered—but discounts remain necessary to drive traffic.
  • Submarkets: East Austin and Round Rock have seen the largest inventory increases, while South Lamar has remained relatively stable.
  • Investment Market: Sales activity is slowly picking up as pricing adjusts and cap rates rise. 2025 could present rare buying opportunities.
  • Outlook: The second half of 2025 should bring gradual improvement. With fewer units coming online and continued in-migration, the market is expected to stabilize and begin recovering by 2026.
Bottom Line: Austin’s multifamily market is navigating a challenging but transitional phase. For now, it’s a renter’s market with landlords competing on concessions. But with demand strong and supply peaking, equilibrium may return by year-end.

Austin Multifamily Market Update — Q2 2025