According to Redfin, between January 2021 and January 2022, rents in Austin surged by an average of 35% percent. That's second only to Portland, Oregon which saw a 39% increase.
Young says she does not believe rent prices will go down anytime soon, but she does believe those high numbers will hit their peak by the end of the summer right after the busy season. If you are in the market for a new lease, her tip is to start looking now and lock in your lease.
"If you can do a 15-month lease, if you can do an 18-month lease, lock in your lease. If you can do a long lease and have it end anywhere between the months of October and January, you will position yourself in a better time of year," she said.
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