AUSTIN, Texas — A new study found that Austin was the top metro in the entire United States for apartment demand, according to a new report by the Austin Business Journal.
The study from Hoyt Advisory Services and Eigen10 Advisors reported that the Austin area will need more than 100,000 additional apartment units by 2035 to keep up with demand.
According to the ABJ, the demand ranking was calculated using the projected percentage growth of renters from 2021 to 2035 and the absolute number of new renters projected for that same time frame.
Austin came in at fifth place for the absolute number of units needed with 117,107 and came in the second place spot for percent growth needed at 2.6%.
The combined numbers were what pushed Austin into the number one spot.
Looking at other Texas cities, the Dallas-Fort Worth area came in at No. 2 while Houston landed right behind the DFW for apartment demand, per the ABJ. The DFW will need nearly 270,000 units by 2035 while Houston will need 209,000 - far surpassing the Austin number.
Overall, the report places Texas in sixth place according to the weighted rankings. The state will need more than 653,000 new units by 2035, which represents a 1.6% change per year, according to the ABJ.
To read the full report, visit the Austin Business Journal website.
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