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Austin’s surge of new housing construction drove down rents

Link: pew.org/en/research-and-analys
Discussion: news.ycombinator.com/item?id=4

Austin’s Surge of New Housing Construction Drove Down Rents

After decades of explosive growth, Austin, Texas, in the 2010s was a victim of its own success. Lured by high-tech jobs and the city’s hip reputation, too many people were competing for too few homes. From 2010 to 2019, rents in Austin increased nearly 93%—more than in any other major American city. And home sale prices increased 82%, more than in any other metro area in Texas.

pewtrsts.org

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