Austin Rents Tumble 22% From Peak on Massive Home Building Spree

Yasmine Acebo makes her living by hooking up renters with deals on Austin apartments. In recent months, they haven’t been hard to find.

In the midst of a pandemic-era population surge, rents jumped a staggering 25% in 2021 in the Texas capital for one of the biggest increases in the nation. But a development boom and new policies encouraging housing density have sent vacancy rates soaring. Now, landlords are struggling to fill gleaming new developments and offering major discounts to lure newly empowered renters.