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Apartment availability in Austin limited

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Apartments citywide are more than 95 percent full, causing prices to jump and making it pretty difficult to find a place to live.

With about 100 to 200 people moving to Austin daily, finding a place to live isn't so easy.
Real estate experts say the apartment you're looking at is most likely being looked at by 5 other  people.

Coming from Washington State, Andrew Chartrand had to start the search process online.
After about three months, he was exactly where he started.
"It took us some time because the listings would be on there for a day and then they'd be taken off. The prices would change weekly," says Andrew Chartrand, renter.
At that point, he knew he would have to get someone to point him in the right direction.
"So when we got a realtor to bring us around to different places, we found out that rent in different months was more expensive than others. So we had to time it just right, we found a month that was within our range to move here," says Andrew Chartrand, renter.
Central Metro Locating says they've been working non-stop, helping over 150 people a week in finding a place.
We're told the key is to act fast.
"A lot of the time we'll get people in here, they'll look at the apartment and then they'll tell us 'we'll call you back tomorrow or make our decision in a couple days.' Then sure enough the apartment is gone. That's typical about 90-percent of the time," says Brandon Belmarez, Central Metro Locating, manager. 
Capitol Market Research shows that over the past year rental rates have increased in all parts of Austin.   
A two-bedroom costs around $1,100 in North Austin, in South Austin it's slightly higher than that and in Downtown Austin it's double.
The same goes for a one-bedroom apartment, which is around $850 in North Austin.
Some people don't mind paying more.
"You don't have to worry about other expenses such as getting taxi's and things like that when you choose to go out. It's nice because you're paying for the location and so you know exactly what you're getting. Because you are downtown, you get benefits with the local restaurants and stores," says Andrew Chartrand, renter.
With apartment communities still under construction, research shows there will be more than 7,000 new units available this year.
In 2015 more than 800 are expected.
The occupancy in the 96 to 97 percent range is expected to remain stable.
"We have all the information. We can save you time, we can save you money. We also know the areas in Austin, we know which apartments are good, which apartments are not as good or rated as well," says Brandon Belmarez, Central Metro Locating, manager. 

We're told renting a home is even harder to do in Austin.
Looking state-wide, San Antonio and Houston are ranked among the top ten cities for renters.

To see more, check out this link-http://centralmetrolocating.com/

 

 

 

 

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