MARKET SNAPSHOT

Austin Q1 2026

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AVERAGE RENT

$1,467 Q1 2026

OCCUPANCY RATE

89.2% Q1 2026

NET ABSORPTION

20,135 T4Q

ANNUAL RENT CHANGE

-4.9% Q1 2026

ANNUAL OCCUPANCY CHANGE

-100 BPS Q1 2026

COMPLETIONS

15,877 T4Q

KEY TAKEAWAYS

Demand momentum is building as absorptions have exceeded the level of new supply on a quarterly basis for four consecutive quarters and on an annual basis for three quarters, with broad-based positive absorption recorded across all major submarkets.

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The supply cycle is turning decisively. Trailing 12-month completions have fallen 43% from their prior-year peak, starts have declined nearly 35% year-over-year, and the under-construction pipeline has contracted 20% over the past four quarters.

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Average rents are down significantly from a year ago, but sequential momentum has turned positive at 0.3% quarter-over-quarter, which is 60 basis points higher than from Q1 2025.

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MARKET OUTLOOK

Austin is navigating the tail end of one of the most aggressive supply cycles in its history, and the data increasingly suggests the worst is behind the market...

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