Occupancy Slides, as RBN Dips Below 90%
Austin’s multifamily fundamentals remained soft entering 2026 as supply continued to pressure rents and occupancy, according to the latest Yardi Matrix Austin multifamily market report. Average advertised asking rents were down 5.0% year-over-year, to $1,492 as of January, while the national average was up 0.2%, to $1,741, U.S. multifamily report. The metro’s occupancy rate in stabilized properties slid 30 basis points year-over-year, to 92.3% in December, with RBN occupancy falling below 90%.
Employment growth softened to 1.0% year-over-year through September, still slightly above the 0.8% U.S. rate. Unemployment stood at 3.2% in December, outperforming Texas (4.3%) and the U.S. (4.4%). Austin added 9,700 net jobs in the 12 months ending September. Gains were supported by five sectors, led by government (4,100) and education and health services (3,100). Five sectors shed 5,000 jobs combined, headed by professional and business services (-2,100) and manufacturing (-1,100). Notable drivers include the Austin Convention Center redevelopment, which is under construction, and Samsung’s Taylor semiconductor campus.
Deliveries hit a new peak in 2025, at 30,002 units or 8.7% of stock, well above the 3.1% U.S. rate. The pipeline remained robust with 22,602 units underway, while new construction fell 18.9% year-over-year in 2025. Investment volume improved to $1.3 billion in 2025, below the decade average. The average price per unit rose 2.1% to $176,871 last year.
Read the full Yardi Matrix Austin Multifamily Market Report: March 2026
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