Texas

Survey finds Austin’s rental market is less competitive due to high construction rates

Austin (Austin Business Journal) — Despite a steady influx of out-of-state residents, Austin remains one of the least competitive rental markets in the nation, with 12 potential tenants applying for every empty apartment in the area.

That’s according to RentCafe’s latest annual report, which ranked Austin as the 6th-best market in Texas and didn’t make it into the top 20 most competitive markets in the US at all. RentCafe rated the markets on a scale of zero to 130, with Austin only scoring 39.

Markets scoring less than 45 are considered less competitive, while markets scoring 45-90 are considered competitive, and markets scoring 90 or more are considered highly competitive.

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