Rental Market Update

[Kevin Taylor]

Hello everyone, 

I was hoping to get some updates on the rental market in Killeen, TX, to be exact the 76549 zip code. I own a 4plex there and I have one unit that has been vacant for about 4 months now and this seems on the high side of vacancy time. I lowered the price down to $700 a month and is sitting at the lowest priced 2 bedroom unit in the neighborhood. It is in good condition and centrally located to shopping and the base so I'm surprise that it has been sitting this long. As all the investors know, the Killeen rental market depends heavily on the military PCS cycle and I'm curious if their is anything else impacting the rental market there? I saw that the population grew by 5% from 2020 and I haven't seen much development as far as new housing goes so what could be causing this uptick in time on market?