Austin is in dire need of new apartments, as a report shows the city will need more than 100,000 additional apartment units by 2035 to keep up with demand.
Commissioned by the National Apartment Association and the National Multifamily Housing Council, the study found that Austin had the highest apartment demand across the nation using projected percentage growth and absolute new renters from 2021-2035.
Texas dominated the need for rental housing, with Dallas-Fort Worth and Houston following closely behind in slots two and three, respectively. The study said percentage growth tends to favor smaller metros while absolute growth favors larger metros.
While the study showed Austin was most starved for new units, it ranked fifth for the absolute number of units needed by 2035: 117,107, or a little over 9,000 units per year. Meanwhile, DFW needs 269,906 and Houston needs 209,084, both higher than totals in any other metro on the list.
In terms of percentage growth needed, Austin ranked second for percent growth needed at 2.6%, DFW slipped behind at 2% and 1.9% for Houston per year.
All combined, Texas ranks sixth for needed housing, requiring 653,285 new units and an increase of 1.6% per year.
According to a report from the Austin Business Journal, 60 projects were delivered locally in 2021, adding 15,198 new units across Travis, Hays, Williamson, Caldwell and Bastrop counties. There are 50,000 units currently under construction in Austin, though 45,000 are awaiting permits, which can be a lengthy, year-plus long process right now.
Additionally, the industry is grappling with regulatory changes and supply shortages that are slowing the process.
As of July, 47 apartment complexes are under construction, making up 13,270 units according to Apartmentdata.com, and another 128 communities representing 42,257 units are proposed.
Show your love for Tito's and for the community this year with a wide selection of not that ugly, uglyish, ugly, uglier, and ugliest holiday sweaters.
There's lots choose from, and plenty of accessories like scarves and socks, plus gear for your dog, too.
All of the items can be purchased online or at the Love, Tito’s Retail Store in Austin, TX. 100% of all net proceeds from online or in-store purchases go to one of the nonprofits we’ve teamed up with.
🗓 All weekend
Check out this highly anticipated art exhibition with illuminated art along Waller Creek. Tickets are free and the event includes food vendors, dazzling lights, live music, and hands-on activities
All weekend 6 p.m - 10 p.m | 📍Waterloo Park
This iconic holiday tradition lights up for the first time this holiday season starting this weekend! Reserve your spot for an enchanting light and sound performance, delicious hot cocoa, sweet treats, and some overall fun with your friends or family. The show runs till January 6th.
6 p.m and 9 p.m | 📍Mozart's Coffee Roasters - 3825 Lake Austin Blvd, Austin, TX 78703
This fitness event is free and open to the public. Get your morning started right with a "Fitness in the park" class for kickboxing! The class will be led by certified instructors and is a great way to get a cardio workout in while also honing your self-defense skills.
10 a.m - 11 a.m | 📍 Metz Park
Support local LBGTQ+ and female artists at this outdoor market with over 150 vendors. Get your holiday shopping out of the way at this event, with vendors for food trucks, handmade goods, raffles, hands on workshops and activities, and more.
Did someone say cheese?! If you're like me and always willing to get your hands on a bowl of mac and cheese, then this event is for you. Check out the Mac and Cheese festival happening this weekend to decide which vendor has. the best mac and cheese for yourself, and enjoy the bar with creative cocktails while you're at it. Tickets start at $45.
11 a.m - 3 p.m | 📍Lantana Place - 7415 Southwest Parkway