Austin multifamily market data
Public-source numbers for underwriting a multifamily property in Austin, TX (Austin-Round Rock-Georgetown, TX Metro Area). Every figure below is cited to its source and vintage; verify anything before relying on it. Updated 2026-07-08.
Market snapshot
| Metric | Value | Source |
|---|---|---|
| Population (Travis County, Texas) | 1,307,625 | Census ACS 5-Year, 2023 |
| Median household income | $97,169 | Census ACS 5-Year, 2023 |
| Median gross rent | $1,669 | Census ACS 5-Year, 2023 |
| Median home value | $487,600 | Census ACS 5-Year, 2023 |
| Renter share of households | 47.0% | Census ACS 5-Year, 2023 |
| Housing vacancy (all units) | 5.6% | Census ACS 5-Year, 2023 |
| Metro unemployment rate | 3.5% (year ago: 3.3%) | BLS LAUS, May 2026 |
| House price index, year over year | +0.4% | FHFA all-transactions via FRED, 2025-10-01 |
| 30-year mortgage rate (national) | 6.4% | Freddie Mac via FRED, 2026-07-02 |
| Rental vacancy rate (national) | 7.2% | Census HVS via FRED, 2025-10-01 |
County-level Census figures describe Travis County, Texas; employment and price-index figures cover the metro area. Metro averages never substitute for submarket and property-level verification.
HUD Fair Market Rents (FY2026)
HUD's FY2026 Fair Market Rents for the Austin area. FMRs are a federal benchmark (40th percentile gross rents), not achievable market rents for any specific property.
Cap rate calculator
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Your numbers, your assumptions. Nothing here is pre-filled or suggested.
NOI should be calculated from real income and expenses, never taken from a listing headline. A full underwriting case builds it line by line.
What to verify before underwriting multifamily in Austin
- Tie the rent roll to actual collections. Bank deposits and the trailing twelve months should agree with the rent roll; broker proformas often assume every unit pays.
- Underwrite economic vacancy (physical vacancy plus concessions, delinquency, and loss to lease), not the advertised occupancy number.
- Split owner-paid from tenant-paid utilities, and confirm whether any utility reimbursement program is in place and permitted locally.
- Inspect the age and condition of roofs, HVAC, plumbing, and electrical. Deferred capital expense is the most common source of year-one surprises.
- Check how the county reassesses property taxes after a sale, and model the tax bill on your purchase price rather than the seller's current bill.
- Review local rent regulation, licensing, and inspection requirements for the submarket before trusting any rent-growth assumption.
Questions to ask the broker or seller
- Why is the seller selling, and how long have they owned the property?
- What concessions are currently offered, and what is the delinquency rate?
- How is the property managed today: onsite staff, third party, or self-managed?
- Which capital projects were completed in the last three years, and are invoices available?
- How are utilities billed to tenants, and what did the owner pay last year?
- Are any units down, non-revenue, or occupied by employees?
Underwrite your Austin deal with your own numbers
Drop in the offering memo, rent roll, or trailing twelve months. CREscope structures the editable underwriting case so you can pressure-test the numbers yourself. Your first deal is free.
Analyze your first deal freeSources and disclaimer
U.S. Census Bureau, American Community Survey 5-Year Estimates (2023). U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics (May 2026). FHFA All-Transactions House Price Index, via FRED. U.S. Department of Housing and Urban Development, Fair Market Rents (FY2026). Freddie Mac Primary Mortgage Market Survey, via FRED. Figures are reproduced as published by the cited sources and may be revised by those agencies. This page is general market information, not an appraisal, opinion of value, or investment, legal, or tax advice. Commercial property performance varies by submarket and asset; conduct independent due diligence.