Real Estate

New apartments in Austin are smaller than national average

Data: RentCafe analysis of Yardi Matrix data; Note: Analysis includes U.S. metro areas (defined by Yardi Matrix market boundaries) with the most apartments located in multi-family buildings of 50 units or more; Map: Kavya Beheraj/Axios

New apartments in the Austin area are getting smaller as other Texas cities, like Houston, Dallas and San Antonio, see their average square footage increase.

Why it matters: Apartment sizes are shrinking nationally, a reversal in the rental market that saw units get bigger during the early part of the work-from-home era.

Austin tops nationally for pet-owning renters

Illustration of a human hand and dog paw high fiving

Illustration: Annelise Capossela/Axios

Austin is the most pet-friendly in the country for renters, per new research by real estate juggernaut Zillow.

The big picture: Pet ownership soared during the pandemic and the local real estate rental market remains pricey — so no one wants to resent their cat for preventing them from renting that perfect apartment.

Nicole Cobler
Mar 7, 2023 - News

I-35 plan could displace iconic Austin spots

The exterior of 24-hour diner Stars Cafe, which would be displaced under TxDOT's preferred plan to widen I-35. Photo: Courtesy of Stars Cafe

An iconic late-night diner, a health center specializing in the treatment of HIV and AIDS, a barbershop, a day care and dozens of other businesses are among those at risk of displacement under the plan to expand Interstate 35.

Why it matters: The Texas Department of Transportation's preferred I-35 expansion plan has left business owners in a state of limbo, wondering whether to move on or hold out until they're forced out.

Median home sale prices drop in Austin

Data: Redfin; Chart: Axios Visuals

The Austin area's housing market continued to cool in January, even as prices nationally slightly increased.

Why it matters: Any relief from sky-high home prices is welcome, especially as mortgage rates creep up, writes Axios' Brianna Crane.

Nicole Cobler
Feb 9, 2023 - News

Buying a home in Austin amid rising interest rates

Illustration of a percent sign shooting upwards like a rocket.

Illustration: Gabriella Turrisi/Axios

Interest rates might be rising, but it's still a good time to buy a home in Austin.

Driving the news: The Federal Reserve slowed down its campaign of interest rate increases last week, raising its target interest rate a quarter percentage point after months of more aggressive steps, and signaled that more increases are ahead.

Hundreds of homes proposed on South Congress

Data: Kimley-Horn and Associates; Map: Axios Visuals

A residential development proposal could transform a 2.84-acre section of South Congress Avenue, with 375 units planned near Live Oak Street.

Driving the news: The proposal by real estate development firm Intracorp would replace a senior living facility, two auto repair shops and surface parking on the east side of South Congress.

Asher Price
Feb 1, 2023 - News

Axios interviews Rosalia Chiu about bill banning Chinese homebuyers

Photo illustration of Rosalia Chiu with the city of Austin and circles in the background.

Photo Illustration: Lindsey Bailey/Axios. Photo: Courtesy of Rosalia Chiu

We caught up with Rosalia Chiu, who has worked as a real estate agent in the Austin market for 21 years, to ask her about proposed legislation that would bar Chinese nationals from buying property in Texas.

  • Born in Hong Kong, she moved to Austin in 2002 after a career in consulting and project management in Taiwan and Silicon Valley. She lives in Leander and calls her realty job "retirement community service."

Austin rents are still high, for now

Data: Moody's Analytics; Table: Kavya Beheraj/Axios

In the fourth quarter of 2022, the average asking rent in Austin was $1,585, up 8.6% from a year earlier, per economic research firm Moody's Analytics.

Why it matters: Affordability concerns are starting to weigh down the booming rental market.


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