Austin Rents Tumble 22% From Peak on Massive Home Building Spree

“Nearly all apartments in Austin are doing some sort of specials for move-ins,” said Acebo, an agent with Pauly Presley Realty. One recent example: a client was searching for a one-bedroom apartment in South Austin and settled on a unit at Perch Apartments about 20 minutes from downtown. It normally would have cost $1,420 per month, but in return for applying the day after her visit and leasing at least 13 months, she received two months free rent, a waived administration fee and a $600 credit.“