Austin is leading the nation in multifamily construction activity, counting 61,873 units underway as of May 2023. According to Multihousing News, this number barely beats out Dallas who has just 1,341 short of Austin’s total. In addition to these already-underway projects, there are more than 106,000 units in the planning and permitting stages across the metro area.
Developers building in Austin are also constructing larger communities compared to other metros on this list. When it comes to delivering finished products during the first four months of 2023 alone , Austin ranks fourth among all markets with 3.5 percent new inventory added relative its existing stock – only behind Miami (3.8 percent), Atlanta (3 .7 percent) and Phoenix (5 .3percent). In 2022 , 16093 new units were added which accounted for 4 .4percent of total stock; a figure that was lower than both Dallas and Houston’s additions that year .
Despite leading the country when it comes to construction starts , overall numbers have dropped from 2022 levels for 2023 so far..
