Austin Multifamily Report – March 2026
The wall of deliveries is still taking its toll.
Austin’s multifamily fundamentals remained soft entering 2026 as supply continued to pressure rents and occupancy. Average advertised asking rents were down 5.0 percent year-over-year, to $1,492 as of January, while the national average was up 0.2 percent, to $1,741. The metro’s occupancy rate in stabilized properties slid 30 basis points year-over-year, to 92.3 percent in December, with RBN occupancy falling below 90 percent.
Employment growth softened to 1.0 percent year-over-year through September, still slightly above the 0.8 percent U.S. rate. Unemployment stood at 3.2 percent in December, outperforming Texas (4.3 percent) and the U.S. (4.4 percent). Austin added 9,700 net jobs in the 12 months ending September. Gains were supported by five sectors, led by government (4,100) and education and health services (3,100). Five sectors shed 5,000 jobs combined, headed by professional and business services (-2,100) and manufacturing (-1,100). Notable drivers include the Austin Convention Center redevelopment, which is under construction, and Samsung’s Taylor semiconductor campus.
Deliveries hit a new peak in 2025, at 30,002 units or 8.7 percent of stock, well above the 3.1 percent U.S. rate. The pipeline remained robust with 22,602 units underway, while new construction fell 18.9 percent year-over-year in 2025. Investment volume improved to $1.3 billion in 2025, below the decade average. The average price per unit rose 2.1 percent to $176,871 last year.
