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Updated almost 4 years ago,
Austin Rents are On the Rise
After a fairly flat 2020 in Austin for rents, 2021 is showing strong signs rents can greatly increase, especially with single-family homes. I've helped two landlord clients this past month secure tenants at much higher rents compared with their previous lease. We secured a tenant for one 3/2 one-story home in March at $2,200, up from $1,950 the year before. We leased it in 24 hours. We secured another tenant for a similar 3/2 home at $2,400, up from $1,995 the year before. While rents still lag behind in comparison with the aggressive appreciation in the for-sale market, it's a good sign they are moving nicely in a positive direction for property owners.
For you local landlords out there, what are you seeing with your properties?
- Ryan Kelly
- ryankelly@kw.com
- 512-674-5478