Downtown Austin Avoids Rent Cuts Seen Elsewhere
Austin is the only metro among the country’s 50 largest markets where rents dropped in the year-ending 1st quarter 2018. However, rent growth continues in select neighborhoods. One of the best performances is the 3.9% rent growth in the Downtown/University submarket. This pattern reverses the trend seen in most metros, as so many markets register comparatively weak urban core rent momentum.