Predictions that put Austin’s expected new apartment development at sixth-highest in the country seem to have played out as expected—especially in one particular neighborhood.
National apartment search website RentCafé (the same site, it should be noted, that issued the above report in August) recently analyzed construction data from Yardi Matrix and Property Shark for approximately 1,000 neighborhoods nationwide to find out which cities added the most apartments since 2010, and where.
Austin’s North Burnet neighborhood came in 19th on the list, which might or might not surprise anyone. Bounded by Highway 183 on the south, Mo-Pac on the west, Metric Boulevard on the east, and the Walnut Creek Greenbelt on the north, the once remote-seeming area has seen an influx of development—particularly the Domain and its various expansions—to the point that it has become a sort of “second downtown” in the eyes of many.
According to the analysis, North Burnet has gained 2,739 new apartments in six buildings—82% of the total neighborhood inventory—in the past six years.
Austin areas that made the top 50 are Downtown, with 2,656 units; Zilker, with 1,720; and “University Campus”—presumably west and north of UT—1,579 new apartments.
New York’s Long Island City took the number-one spot, with 12,533 new apartments, and, aside from the two spots occupied by Dallas and Houston, New York City neighborhoods dominated the top 10 for apartments built between 2010 and 2016.
• Top U.S. Neighborhoods that Got the Most Apartments After the Recession [RentCafé]
• Austin ranks No. 6 nationally in new apartment construction [Curbed Austin]