What is the current occupancy rate for Austin multifamily?
Austin, Round Rock MSA multifamily occupancy is 92.8% as of Q1 2026, up from 92.4% in Q4 2025 but down from 93.2% in Q1 2025. Class A occupancy is 93.7%, Class B is 93.0%, and Class C is 91.9%. Forecast occupancy for Q1 2027 is 95.1% as new construction continues to slow.
How many multifamily units are in the Austin metro?
Total Austin, Round Rock multifamily inventory reached 350,991 units in Q1 2026, with 16,171 units currently under construction. New supply delivered in Q1 2026 was 2,409 units, while net absorption was 3,465 units - the first quarter where demand outpaced supply in over a year.
What is the average rent in Austin multifamily?
Average asking rent was $1,400/mo in Q1 2026 - the first uptick after ten consecutive quarters of declines. Class A: $2,066, Class B: $1,312, Class C: $1,137. Class A is showing the strongest rebound as the new-construction supply pipeline thins.
Is the Austin apartment market oversupplied in 2026?
The supply pipeline has contracted sharply. Units under construction dropped from 23,590 in Q1 2025 to 16,171 in Q1 2026, with the forecast falling to 6,409 by Q1 2027. Combined with steady population-driven demand, the market is expected to move toward equilibrium through 2026.
Which Austin submarkets are strongest for multifamily?
Downtown / University leads on rent at $2,951 per unit with 94.4% occupancy. South Austin (93.9%), Southwest Austin (93.8%) and Cedar Park (93.2%) lead on occupancy. East Austin has the most units under construction (2,743) followed by San Marcos (1,674) and Far South Austin (1,551), signaling where supply growth is concentrated.
Is Austin a good market for multifamily investment in 2026?
Yes. Population growth continues at 100+ people per day, the supply pipeline is contracting toward equilibrium, and rent has begun to recover after a multi-quarter correction. For small multifamily (2 to 4 units), Central Austin cap rates run 4 to 6%, with higher yields in East Austin and suburban corridors. Texas’ zero state income tax further compounds returns.
What is the average price of a duplex in Austin?
Duplex prices vary significantly by location. Central Austin (78704, 78702, 78722) typically lists between $600K to $1.2M. East Austin and northeast corridors run $400K to $700K. Suburban duplexes in Pflugerville, Round Rock, and Kyle start around $350K to $500K. See live MLS data on the small-multifamily section above.
Do I need a commercial loan for a duplex?
No - 1 to 4 unit properties qualify for conventional residential financing. If you live in one unit, FHA at 3.5% down or VA at 0% down both work. Investment-only purchases of 1 to 4 units typically require 20 to 25% down with conventional loans. Commercial loans are only needed for 5+ unit buildings.
How does rent vary by building vintage in Austin?
2020+ deliveries average $1,618/mo. 2010s vintage averages $1,525. 2000s: $1,361. 1990s: $1,283. 1980s: $1,021. 1970s: $1,100. Pre-1970s: $1,232. The pre-1970s uptick reflects the central-Austin location concentration of older inventory.
How often is this report updated?
The macro market data is refreshed quarterly using the latest Colliers / MSCI / RealPage benchmarks. Live small-multifamily MLS listings (duplexes, triplexes, fourplexes) refresh hourly directly from Central Texas MLS. Subscribe to the quarterly report list above to get each update before it goes public.
