Apartment options increasing

Posted by Clive Rutherford on Apr 13, 2015 in Blog | 0 comments

You dream of your first place to call home.  You want to start small and then grow into a house. But how can you make that dream a reality?

Apartment living is on the rise again and so is the demand for apartments.   There are so many new apartments popping up all over town you have lots to choose from.

Check out this article by Stephen Burnett called Apartment options increasing found in the Community Impact Newspaper.

About 700 units coming to Cedar Park, Leander

A real estate advisory firm is forecasting a record increase in the number of new apartment leases in Cedar Park and Leander in 2015, especially along the US 183 corridor.

Berkadia Real Estate Advisors, a division of multifamily investment company Berkadia, released the prediction in a 2014 year-end report.

The report outlined that multifamily developers in 2015 are expected to add a total of 10,670 market-rate apartment units in the Austin metro area. David Delich, senior director of research at Berkadia, said the lower estimate does not include anticipated new units in Cedar Park and Leander…

Despite rising demand for apartments, the report also predicted rent increases. In 2014 average rent increased from about $965 per month to about $1,030 per month. In 2015 rent could increase again by about 10 percent to an average of $1,134 per month. According to the report, 2016 rents could jump even higher by about 4.5 percent to an average of $1,185 each month.

Click HERE for the full article.