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Old 06-02-2012, 06:50 PM
 
404 posts, read 708,391 times
Reputation: 683

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I moved into my complex in 78757 in November 2010.

The rent for a 2bed 2bath was $847

After the lease was up in August 2011, it went up to $1000

This August, they are proposing $1380... a 61% increase.




The place is old and needs some major upgrades, so needless to say, we are leaving. The place was a deal at the original price, but I'm wondering... is this kind of increase normal for a 10-15 mile radius around downtown? Many of my friends are moving further north and getting wayyyy better deals. Like a 3 bedroom townhouse off Parmer for $1000/mo with a huge backyard.
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Old 06-02-2012, 06:56 PM
 
Location: Volcano
12,969 posts, read 28,210,381 times
Reputation: 10755
Unfortunately, with only a 4% vacancy rate in Austin at the moment, landlords and property managers are cranking up the rents, yes they are.
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Old 06-03-2012, 06:18 AM
 
Location: Round Rock, TX
1,317 posts, read 4,036,208 times
Reputation: 765
I'm so glad to be paying $775/mo mortgage on my 3/2 house...
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Old 06-03-2012, 10:33 AM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,410,593 times
Reputation: 4000
Quote:
Originally Posted by Shredding_Gnar78 View Post
I moved into my complex in 78757 in November 2010.

The rent for a 2bed 2bath was $847

After the lease was up in August 2011, it went up to $1000

This August, they are proposing $1380... a 61% increase.




The place is old and needs some major upgrades, so needless to say, we are leaving. The place was a deal at the original price, but I'm wondering... is this kind of increase normal for a 10-15 mile radius around downtown? Many of my friends are moving further north and getting wayyyy better deals. Like a 3 bedroom townhouse off Parmer for $1000/mo with a huge backyard.
Hey! I hear there are some great new apartments going up in Steiner Ranch!
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Old 06-04-2012, 07:43 AM
 
Location: Austin, TX
15,229 posts, read 35,355,700 times
Reputation: 8565
In about 1988, I rented a 2-bed/2-bath apartment off of Far West for $320/month (with gas paid). 18 months later, it was $560/month (a 75% increase). That pretty much mirrored the rates around that area and was the last time I remember apartment prices spiking. It does happen, but usually plateaus for a while. But, yes, I suspect (no actual data) that the prices near to downtown will increase pretty much across the board.
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Old 06-04-2012, 09:46 AM
 
Location: Austin, Texas, USA
1,299 posts, read 2,756,704 times
Reputation: 1216
My 78704 apartment went up a little under 8% last month. I didn't love it, but it's still significantly less than what they're renting out the vacant units for. Yeesh.
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Old 06-04-2012, 10:07 AM
 
Location: Austin, TX
293 posts, read 727,048 times
Reputation: 424
My 78704 2 bedroom, 2 1/2 bath is staying at $1000, but I'm moving anyways.
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Old 06-04-2012, 11:09 AM
 
Location: Austin, TX
2,101 posts, read 4,506,634 times
Reputation: 2738
Quote:
Originally Posted by Shredding_Gnar78 View Post
The place was a deal at the original price, but I'm wondering... is this kind of increase normal for a 10-15 mile radius around downtown?
Austin is in the middle of a major rental housing shortage, which is why rents are so high. Relatively little new construction was built in the last 4 years due to the recession, but people kept moving to Austin. On top of that, the Bastrop fires from last year forced a lot of residents from Bastrop to move into Austin. Low supply + high demand = high prices
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Old 06-04-2012, 06:27 PM
 
404 posts, read 708,391 times
Reputation: 683
Quote:
Originally Posted by mickey65 View Post
I'm so glad to be paying $775/mo mortgage on my 3/2 house...
I'm happy that you're happy! Really.. I am.

78757 is Allandale.... different area entirely AND its close to downtown. I feel like Braker is sort of the dividing line. Parmer feels like super far from Downtown.

Personally, I'd never live in Williamson County... I've had more than enough of the 'police county' living in Irvine, CA. Commuter extortion is big business... and if you're lucky enough to escape the predatory law enforcement, the toll roads will get ya either way. Screw all that!!!
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Old 06-04-2012, 08:53 PM
 
Location: Central Texas
20,958 posts, read 45,104,465 times
Reputation: 24735
Interestingly, I've lived in Williamson County for about 15 years now, commuting to Austin often (both my husband on a daily basis and myself regularly), and have yet to experience the "commuter extortion" that you speak of.

Wonder if you're speaking from personal experience or just parroting some rumor you've heard?
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