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Rental properties in Austin, TX

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  • Rental properties in Austin, TX

    Okay, I'm counting on my TX friends here for some information.

    A friend and co-worker here at work in Kalifornia (that's with A 'K' as in Kommunist) has just bought a new home just outside of Austin for about $175,000. There is a real estate agent / property manager local to Austin that will handle all property management needs for 7% of rental income. Expected rental income is $1,250 month.

    I'm hoping someone local to Austin can tell me how the housing market is looking, what is has been trending the last coupla years and what it is forecasted to in the next few years. Also, what is the single-family rental occupancy rate. Is it hard to find a place to rent, or are there a ton of them and it is hard to find tenants? Do tenants generally prefer a single-family house in the $1250/month range, or do most rent apartments in a lower (I don't know, $650/month?) range? Is $1,250 a lot for rent in the Austin area?

    Thanks y'all!

    EDJ
    "It's a game of cat and mouse. It's a game of hide and seek. Albeit games with deadly consequences. Like most games-the better you know the rules, the more likely you are to win."

  • #2
    Housing in the Austin area

    EDJ:

    The housing in the Austin area is pretty much still a seller's market. My wife and I have been looking in the Austin area and we are seeing most of the homes selling above FMV (fair market value) in many of the areas north of Austin. Past trends have fluctuated with the usual "end of the school year", changing seasons, etc... I believe that the near future holds more of the same.

    As for renters, I can't be sure. I don't really have any demographic info on that. However, I am aware of some of the nicer apartments around the Austin area that have similar square footage as some of the $175K homes. Most of the single family type units go for around $1K - $1300.

    Sorry I can't help much more than that.

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