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Austin rents have fallen for nearly two years. Here's why

A massive apartment building boom in the Austin-Round Rock region has driven rents downward, real estate experts and housing advocates have said.

The chief reason behind Austin’s falling rents, real estate experts and housing advocates said, is a massive apartment building boom unmatched by any other major city in Texas or in the rest of the country. Home prices in Austin have hovered above $500,000 for some time, making it nearly impossible for the typical family to transition to homeownership while remaining in city limits. And the number of people experiencing homelessness grew in Austin last year, according to estimates released in December by the U.S. Department of Housing and Urban Development.

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