Report: Austin #1 in the US for demand for new apartments

A new study indicates that Austin will need 100,000 new apartments by 2035 to meet demand.

AUSTIN, Texas—A new study found Austin to be the top metro in the entire United States for apartment demand, according to a new report speak Austin Business Journal.

The study by Hoyt Advisory Services and Eigen10 Advisors indicated that the Austin area will need more than 100,000 additional apartments by 2035 to meet demand.

According to the ABJ, the demand ranking was calculated using the projected percentage growth of tenants from 2021 to 2035 and the absolute number of new tenants projected for the same period.

Austin came in fifth place for absolute number of units needed at 117,107 and came in second place for percentage growth needed at 2.6%.

The combined numbers pushed Austin into the top spot.

Looking at other cities in Texas, the Dallas-Fort Worth area came in at No. 2 while Houston landed just behind DFW in apartment demand, according to the ABJ. DFW will need nearly 270,000 units by 2035 while Houston will need 209,000 – far exceeding Austin’s number.

Overall, the report places Texas in sixth place based on the weighted ranking. The state will need more than 653,000 new units by 2035, which represents a change of 1.6% per year, according to the ABJ.

To read the full report, go to Austin Business Journal website.

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