AUSTIN, Texas — Construction and new properties keep going up as Central Texas continues to grow.
ApartmentData.com broke down the data about new properties opening in 2022 in the Austin Area, apartment properties under construction and proposed projects coming in 2023.
Suburbs to the north saw some of the most activity.
"Georgetown has seen quite a bit of construction," said Cindi Reed with ApartmentData.com. "The Pflugerville-Tech Ridge area, there is a lot of employment growth in the high-tech corridor there, so that is going to lead to a lot of development."
Communities north of Austin saw 19 new buildings open in 2022, and they have 33 more properties currently under construction. Reid said the growth is based on demand in the area and available land.
"We have 4,500 units in lease up in North Austin, and we got another 9,200 under construction," said Reid. "That is a lot of inventory to be delivered to one section of town."
South Austin is also seeing growth, with 13 new properties producing nearly 4,000 units.
Reid said the future is looking good there, with more than 9,000 units currently under construction in both South and southeast Austin.
West Austin saw the least growth.
Reid said with more than more 12,000 units going up in the Austin area in 2022 and construction underway, that is a good thing for if you're a renter. She said it could help see rental rates cool down. The current average is $1,632 in the Austin area.
"That is going to have an overall impact to the renter in going out for a place or negotiating agreement on their apartment home."
Boomtown is KVUE's series covering the explosive growth in Central Texas. For more Boomtown stories, head to KVUE.com/Boomtown.
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