The Future of Renting in Austin

If you're looking for a new place to live -- Right now may be a good time to find a deal on an apartment. Our Will DuPree sat down with Cindi Reed from real estate software company MRI Software to find out what's happening to the cost of rent around Austin.
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[@MrNeilTV]

$1456 is still absolutely insane in Texas.

[@deelandry4046]

It’s not.

[@jdwool08]

@@deelandry4046yes it is

[@parler8698]

It's happening, but yes, it's also insane.

[@GlamGadz]

Where the hell are you from? That is hella cheap. Even trailers are more expensive to rent now.

[@Kuulei265]

Anywhere that is insane.

[@mariusfacktor3597]

Keep building housing, Austin! Make those landlords compete for tenants and every renter will have cheap housing. I hope they direct much of that growth to Austin's center core because that will have the least impact on traffic. But regardless, no neighborhood should be exempt from change. Allowing housing is what a city is meant to do.

[@infini.tesimo]

$1400 is a partial mortgage payment. It still needs to go down to sub $1k. Why pay for that when the average American still doesn't make anywhere near 3-4x income requirements? There's too many stories of people on the internet making around $28k to $36k a year and these buildings do not get occupied to full capacity at all because of this.

[@msKita43]

Still needs to go down some more

[@killershrimppp]

🙏

[@cautera3403]

Trend is your friend

[@jeantuite-actress--imdb]

I don’t think I can afford to move back there unless I get new jobs, a boyfriend and or roommates

[@NoOneCaresIckyThump]

Increasing supply reduces rent prices. Whodda thunk it?

[@basenvy]

without context, what does avg rent rate of $1450 mean to anyone? Is that 1 bed 1 bath or studio? 2br?

[@tylerv1083]

1 bed 1 bath. 5 years ago average rent for 1 bed 1 bath apartment was $1800

[@jeanniestegner9915]

5 yrs ago, 1 bdrm 1 bath nice rental was 800 to 900 in DFW keep trying. 😮

[@tylerv1083]

@@jeanniestegner9915 ain’t nobody in here talking about dfw

[@Anthony-dj4nd]

Studio

[@Precious-ex5er]

​@@tylerv1083No, it was around $900 in a good complex in Austin and RR.

[@Tracie4364]

They say $1456 as if that's affordable.

[@GlamGadz]

It is very affordable. I’m convinced some commenters like this have never lived in an apartment that wasn’t section 8, or trailer parks, or a rooming house/motels. If you think that is high, you have not rented a decent place in 20-30 years. Get a grip on reality, please.

[@Precious-ex5er]

​@@GlamGadzWow! Did you really say that? You have no idea what you are talking about.

[@GlamGadz]

@ There is nothing wrong with what was said. It is factual. If you have owned a home for that last twenty years+ , then you would be in line with what I said. Reread. If one has lived near any metropolitan area north, south, east, west and have rented a place at fair market value, then you would think this is affordable for this day and age. Not twenty or even ten years ago. We are never going back to those prices for homes or apartments.

[@joefunk76]

Affordability is a matter of perspective. $1456 is easily affordable for Jeff Bezos but not at all for a homeless person. 🤔

[@Kuulei265]

Or the amount a lot of people receive in Social Security. They need to build places for senior citizens who are rapidly being turned out on the streets. It’s like as soon as the place is built, it’s full. The wait time to get into affordable housing is too long. What are people supposed to do in the meantime? Where are they supposed to live. Migrants instantly got hotels and vouchers for food and services. What about our people. It’s only now I’m reading the migrant shelters are closing. All the money poured into that.

[@jeanniestegner9915]

It needs to go lower. IMO 😮

[@noblestor8089]

Wow who would've thought that building more dense housing would decrease rent, thats insane how utterly groundbreaking and revolutionary nobody has ever come to this conclusion.

[@parler8698]

The rent was too high!!!

[@iamdeeshields]

Northwest Austin, my 1 bedroom rate is $1030 in a complex that’s been open 12 months,

[@B-RaDD]

Would you say that's fairly decent?

[@iamdeeshields]

@ after my $1300 mortgage with 3200 sq ft, I would simply say, it’s an adjustment, yet, nice neighborhood, new appliances and near major shopping

[@irmichaels1955]

Where plzzzz😊

[@irmichaels1955]

@@iamdeeshieldswhere plzzzz😊

[@iamdeeshields]

@ anywhere in, northwest Austin you will see similar rates (near Cedar Park, or even friends in Round Rock, similar rates)

[@RedLeo-pf9yo]

lower it to 1000 a month and you'll see 100 percent occupancy

[@amod-r1m]

100 x 1000 is less than 83 x 1450 though. They want to make money, not fill apartments.

[@JoseTwitterFan]

NIMBYs in shambles

[@UncleDavesKitchen]

Is Austin still the hotspot for jobs it was a few years ago? It was ridiculous recently with people bidding on a potential apartment and having to pay a year in advance. sounds like massive building lately.

[@svuvmdv4608]

I tried to rent 5 months ago. I could get reasonable 2 bed, 2 bath with 2 garage for 1900$ for a short lease. communities had a base rent and then fees on top to make it another 300, to make it 1750 for a apartment, not even a condo. My condo now is 1900, plus compulsory rental insurance bill. Then I bought a house, payment is 2500 for 3600 sq ft... half acre lot.

[@j70b]

Trade wars will inform the tech industry employment... Austin could see a lot of layoffs in its tech companies.

[@AboveTheTrees00]

That absorption isn’t going to happen people are fleeing this village and so are the companies

[@marik1104]

1 bed, 1 bath, 976 sq.ft., about 5 miles from downtown Austin, nice neighborhood & I've paid $1632/month + utilities for the past 2 years. They didn't drop my rent at all when I re-signed a couple months ago.

[@chrisc2535]

OR, listen to this, we don’t rent those overpriced apartments that will increase 5% yearly in the best case scenario. Those corporations who decided to put people out of the market should feel more pain.

[@juanrestrepo1017]

It’s NOT the job growth. It’s the rent prices genius

[@lashunburton657]

Sounds like folks are leaving...

[@MrAtlprince29]

They are leaving. Notice how neither one of them mentioned that it's been a lot of layoffs. I believe the biggest one was from Tesla

[@SugarPeachPrincess]

Y’all need to stop filming b roll footage of the inside of people’s apartments. That is weird to straight up film people’s windows and into their screen doors.

[@nameblocked]

These properties would be filled in a week if they REDUCED THE PRICE! 😊

[@Juanglz1]

She said it’s been a rough year 😂. Im happy they’re finally going down!

[@douglas2583]

Great

[@LovelyLisha3]

This is one of the many reasons minimum wage has no business being $7.25 hr ($1,160 mt). If someone need to make 3x's the rent, they'd need to be making around $4,368 mt (roughly $27.30/hr) Even working two full-time minimum wage jobs at $2,320 mt wouldn't cut it. If they're not going to drop these rent prices, along with other basic cost of living expenses, why not at the very least, make it to where people can make the money we need to survive!?!? It's not like we'll be making millions...and rent + cost of living will still eat it up but at least we'll have a little peace of mind knowing we can actually afford it according to their 3x rule. I listen to Richard Wolff and others speak about similar topics all the time and it just makes sense.

[@x-men69-96]

It’s dropping bc of the property tax relief

[@Tracie4364]

My family moved here in 1983 and I REALLY REALLY miss driving and seeing trees and landscape. An unnecessary amount of buildings being built. Please stop building.

[@Precious-ex5er]

I was born and raised here, I agree. Austin was beautiful and lush, now we're turning into a cement city.

[@euphoricmonk]

What are y’all talking about, I drive down mopac / south manchaca all the time and just see greenery for miles. Usually with no traffic. If you’re in North Austin that’s why.

[@mariusfacktor3597]

Tracie4364 sure doesn't like when rent prices go down. I think we found a landlord, ladies and gentlemen.

[@tonyterry6631]

They keep building them but they are still High!.

[@alanstew5889]

They are lying like crazy that’s for a 1 bedroom 700sf

[@bkburnaz4688]

Austin is a 3rd tier city I’ve never heard anyone ever say I dream of living in Austin like nyc La or Miami. Austin should never be high on the rent there is no mLB Nba or nfl team there. That is not a destination. Sorry tech bros. Austin charging Brooklyn prices to live in a Non professional sports team town. No sir

[@banksgold]

I do believe Austin averages rent It is very low prices. I believe it should be 6,600.

[@tylerv1083]

What?

[@user-ln7of9gs4s]

A little high, a reasonable rate would be $6,000.00 dollars.

[@garyspence2128]

6 thousand a month, or 6k for a year? I'm not a billionaire, or a millionaire. A thousandaire is more like it...

[@MrNeilTV]

$1456 is still absolutely insane in Texas.

[@jdwool08]

It is and it’s greed

[@mariusfacktor3597]

@@jdwool08 Landlords will generally charge as much as they can as long as they get a tenant. Yeah it's greedy, but that's the way it works. What this video shows is the way to get back and landlords is to encourage more housing construction because that forces landlords to compete for tenants which lowers prices for renters! Austin City Council has done a fantastic job to remove the red tape and let more homes get built. Props to Austin!

[@jdwool08]

@@mariusfacktor3597 they have no choice they have priced everyone out as well as migrants showing up.