“I don’t see citywide growth in rents at all in 2015,” Heimsath said, although he does think parts of the region seeing strong job growth and “an appropriate amount of supply” will continue to see some rent increases. Heimsath expects to see continued rent growth in Northwest and Central Austin — which includes downtown — through the end of the year.
However, research firm Marcus & Millichap predicts Austin will see apartment rents rise 4.5 percent to an average of $1,142 per month. Marcus & Millichap cites the region’s above-average job growth, population growth and increased hiring in the tech sector, which it said will support “outsized expansion in Austin’s prime renter age cohort, which this year is forecast to grow at a rate five times the U.S. average.”
Note: The last statement is a veiled reference to the Austin Chamber of Commerce and RECA's plans to continue to generate more job growth through Opportunity Austin: