Austin, Texas, apartment demand beats expectations with strongest recorded first quarter

“Demand for high-end apartments in East Austin, Georgetown, Round Rock and North Austin was key to the strong performance. These areas combined accounted for 40% of the market’s absorption in the first quarter, continuing a trend seen throughout the past year. Renters are leasing four- and five-star units at a strong pace, with demand for these properties rising by 4% quarter over quarter to 4,300 units, and accounting for 86% of total absorption during the quarter.“