Cedar Park and Leander See Growth and Rising Rents

Austin has had to expand it’s borders to keep up with the influx of newcomers that flood in every year to call the city home. In the last two years Cedar Park and Leander have been prime real estate for new construction and renovation, adding a 20% increase in these two departments in that small amount of time.

 

Even though Cedar Park and Leander are further from downtown Austin, they have had no problem keeping new and renovated units full, boasting a 96% occupancy rate the last two years running, in comparison to 93% in Austin’s central neighborhoods.  It doesn’t look to be slowing down anytime soon. This is likely due to the rapid expansion of infrastructure, an influx of employers, and a reputation for comfortable homes and excellent schools.
 

This year newcomers and long time Austinites are willing to spend more for rent to live in Cedar Park and Leander than in years past. In the last year rent has increased 5.6%; 4% of which occurred in the last four months alone.

How long Cedar Park and Leander can continue growing at this rate remains to be seen. Analysts predict a slowdown in the next two quarters.  Regardless, with the area’s new apartments and growing infrastructure it is sure to remain a popular place for renters in the foreseeable future.

If you are new to Austin or a long time resident and are looking for a new apartment to call home, give us a call at 512-339-4411. Our experienced apartment locators can assist you in finding a suitable rental anywhere in the Austin metro area.  Our services are always free to our clients and we are available to assist you seven days a week.

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