Study shows Austin rental market becoming less competitive than 2023

The data continue to roll in showing Austin’s rental market is becoming more affordable and friendly to those seeking a new residence. Real estate technology company RentCafe’s recent analysis of housing markets across the U.S. found that Austin is still the most competitive market in Texas, despite what it called “a staggering increase in new apartments in recent months.” The company’s Rental Competitivity Index measured factors such as average days vacant per unit, the amount of occupied apartments, number of prospective renters per unit, lease renewal rate and share of new apartments, most of which moved in a direction indicating greater slack and less competition among renters than at the same time in 2023.