[KevinFromTexas]

The apartment occupancy rate in Austin is at 97.8 percent now. There's obviously demand, now let's see if these projects can get financed. Even with 10,000 units under construction right now, the demand is still outpacing the supply.

This article includes a list of projects that are either under construction and planned.

http://www.statesman.com/business/re...inglePage=true

Austin apartment market on record-setting hot streak

By Shonda Novak

The Austin-area apartment market is continuing on its hot streak, with rents and occupancies hitting the highest levels in the 21 years that a local expert has been tracking the numbers.

The area's midyear apartment occupancy rate stood at 97.8 percent, said real estate consultant Charles Heimsath, president of Capitol Market Research. He said that's the highest rate since 1991, when he started surveying the market.

The high occupancy is pushing rents up too. They hit a record $953 a month, Heimsath said, with that figure representing an average across all unit sizes. That's a jump from a $900 average in June 2011.

Although more than 10,000 apartment units are under construction in the area, demand is still easily outpacing supply, experts say.

"It's getting insane," particularly in areas in and near downtown, including the popular 78704 ZIP code, said Drew Johnson, a real estate agent with Live Weird Realty. "Demand is exploding."