Austin, TX multifamily market
Austin's multifamily market is working through a deep supply overhang following a 33% surge in apartment inventory from 2020 to 2025 -- the fastest rate nationwide -- which pushed vacancy to roughly 13.5% and rents down nearly 4.7% year-over-year as of Q1 2026. Transaction volume has picked up, rising 41.5% in 2025 versus 2024, though it still trails the decade average, with the average sale price per unit reaching approximately $177,000-$224,000 depending on asset class. Buyers are focusing on stabilized cash flow and well-located assets, with market cap rates settling near 5.7% in early 2026 as the supply pipeline begins to thin. The outlook is cautiously improving: absorption is outpacing deliveries, suggesting vacancy should continue to drift lower through 2026 and into 2027.
What's driving Multifamily prices in Austin
Multifamily sale prices in Austin declined from their 2022 peak and remained under pressure through 2024-2025 due to oversupply, but showed early stabilization in late 2025 with the average price per unit rising 2.1% to approximately $177,000 in 2025 and cap rates compressing modestly toward 5.5-5.7%.
- Supply overhang: 30,002 new units delivered in 2025 (8.7% of stock) kept vacancy elevated at 13.5% in Q1 2026, pressuring rents and pricing
- Thinning construction pipeline: new starts fell 18.9% year-over-year in 2025, reducing future supply pressure and supporting recovery expectations
- Absorption outpacing deliveries: Austin absorbed 3,800 units vs. 2,000 delivered in Q1 2026, gradually burning through excess inventory
- Distressed loan maturities driving deal flow: loan workouts and forced dispositions are pushing more assets to market at dislocated pricing, attracting value-add and opportunistic buyers
Market intelligence
Tracking this market · 7 comps · latest deal Q3 2025.
This quarter: 0 comps added to our corpus in Q3 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
MomentumPins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned. The shaded area is Austin's municipal boundary, coloured to match the momentum read above.
Recent Multifamily comps in Austin, TX
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 1900 Onion Creek Pkwy, Austin, TX 78748 (Adair Onion Creek) news | Apr 2026 | Sale | 228528 | Undisclosed individual asset price (part of portfolio transaction; total deal including net debt ~$1.2B) | |
| 1909 Alexander Ave, Austin, TX 78722 (Bridge at the Blockyard) news | Early 2026 | Sale | ~400000 | Undisclosed; acquired by CWS Capital Partners from Trammell Crow | ~$192 |
| 10301 FM 2222 Rd, Austin, TX 78730 (Bridge at River Place) news | Early 2026 | Sale | ~415000 | Undisclosed; Blackstone sold to Austin Affordable Housing Corp | ~$213 |
| Austin Metro -- Q3 2025 Market Composite (Round Rock / Georgetown / North Suburbs) news | Q3 2025 | Sale | $224,000/unit avg; ~$205M quarterly volume | ~$214 | |
| Austin Metro -- H1 2025 Market Composite (Class B Focus) news | H1 2025 | Sale | $221,800/unit avg for Class B; overall avg $201,100/unit | ~$211 | |
| Austin Metro -- Full Year 2025 Market Composite (Yardi Matrix) news | 2025 | Sale | $176,871/unit avg (up 2.1% YoY); $1.3B total investment volume | ~$168 | |
| Austin Metro -- Q1 2026 Investment Market (Matthews / CoStar) news | Q1 2026 | Sale | Market cap rate 5.7%; asking rents avg $1,500/unit | ||
| Median of 5 recent sales · $211/SF | $211 | ||||
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Austin, TX, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.