As more multifamily developments become available and the tech job boom slows, Austin is seeing more affordable rents than a year ago, but costs remain above pre-pandemic levels.
A report from Realtor.com reveals that Austin, Texas was one of the three U.S. cities with the most dramatic drops in rent prices in November 2023 compared to the same month in the previous year. Shonda Novak explains the report’s findings in the Austin American-Statesman.
After hitting record highs in 2022, “Earlier this year, local housing experts predicted that 2023 would bring some relief for renters due to slower job growth — mainly in the tech sector — and a tide of new apartment supply that was expected to exceed demand.” However, Austin rents are still around 25 percent more expensive, on average, than in 2019.
Experts expect rents to continue to decline as more multifamily construction makes its way onto the rental market. “Multifamily (new construction) completions, the vast majority of which are used for rentals, picked up 16.1% year over year in the Austin metro area year to date (January-October).”
FULL STORY: Apartment rents have declined in Austin recently, but will the trend continue into 2024?
Austin Rents Fall for 19th Straight Month
Thanks to a construction boom, the city is no longer the most expensive housing market in Texas.
New Hampshire House Passes Parking Reform Bill
The revised bill, which caps parking requirements at one spot per residential unit and eliminates exemptions, will go back to the Senate for a new vote.
Washington State Legislature Passes Parking Reform Bill
A bill that would limit parking requirements for new developments is headed to the governor’s desk.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and harrowing close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)