We track Austin’s apartment inventory daily across more than 1,100 properties, using data we buy, our own collection from community websites and our team’s research, and it all feeds our apartment search. So when we say the development pipeline is shifting, we’re watching it happen as it goes, community by community, corridor by corridor.
Here’s what most “new apartments in Austin” articles get wrong: they list buildings. That’s it. A name, an address, maybe a rendering. They don’t tell you what all that new supply means for your rent, your negotiating power, and your timeline.
This guide is different. It tracks what’s being built, where, how many units, and when they open. We break down what that supply means for pricing, where the pipeline has gaps, and how renters can time a move around opening dates to get better deals.
The sources behind this data include RentCafe, CoStar, RealPage Analytics, the Austin Apartment Association, Cushman & Wakefield, Yardi Matrix, the City of Austin Housing Department, and the Downtown Austin Alliance, all checked against our own tracking. Where sources disagree (and they do), we give the range.
Austin’s Construction Numbers, Year by Year
To make sense of what’s being built now, start with what just happened.
Austin went on a building spree between 2021 and 2024 unlike anything the city had seen. Developers launched a record number of projects between 2021 and 2023, riding pandemic migration, cheap money, and job growth forecasts that wouldn’t quit. Construction takes 18-36 months, so those units started flooding the market in 2023 and 2024.
| Year | Approx. Units Delivered (Metro) | Construction Starts Trend | Source |
|---|---|---|---|
| 2022 | ~18,000 | Peak year for new starts | RentCafe / CoStar |
| 2023 | ~25,000 | Starts declined 43% from peak | MMG Real Estate Advisors |
| 2024 | ~33,000 | Starts declined another 60%, hitting a ten-year low | CoStar / RentCafe |
| 2025 | ~26,715 (metro) / ~15,195 (city) | Pipeline still finishing earlier starts | RentCafe |
| 2026 (projected) | 4,600 – 13,000 | Steep drop as earlier starts run out | CoStar / RealPage / AAA |
The numbers tell a clear story. Deliveries peaked in 2024. They’re already declining. By 2026, the metro could deliver as few as 4,600 new units according to CoStar’s latest estimates, down from about 26,715 in 2025 by RentCafe’s count. RealPage puts it higher at around 10,300 units for 2026, and the Austin Apartment Association cites 12,000-13,000. The exact number comes down to where you draw the metro boundary and which delayed projects finish on schedule.
But every source agrees on the direction: sharply down.
That’s the headline for renters. The construction wave is not building. It’s receding.
Austin’s population grew 10.9% from 2020 to 2024, the fastest growing large metro in the country. Tech jobs, people moving in from pricier states, and a growing remote work population all fed that growth. That growth set off the record development starts. Those projects are opening now, and new starts have dropped off a cliff.
What’s Opening and Where: A Corridor by Corridor Breakdown
New supply didn’t land evenly. Some corridors took on thousands of units over the past two years. Others barely saw a crane.
Based on RealPage data through Q3 2025 and our own database tracking, here’s where most of the new units landed:
Supply by Submarket (Year Ending Q3 2025)
| Submarket / Corridor | Units Delivered | Notable Activity | Price Tier |
|---|---|---|---|
| East Austin (78702, 78721, 78741) | ~3,989 | Highest volume in metro. Mix of luxury mid-rises and mixed-use along E. Riverside, E. Cesar Chavez, Manor Road corridors | Mostly Luxury / Class A |
| Round Rock / Georgetown | ~3,249 | Suburban. Big volume north of SH 45 | Mid-Range / Class A |
| Cedar Park / Leander | ~2,514 | Suburban growth continues. Northline mixed-use adds units | Mid-Range / Class A |
| North Central Austin (Domain/Burnet) | ~1,749 | Uptown ATX Phase 1 (341 units), plus infill near Q2 Stadium | Luxury / Class A |
| San Marcos / Kyle | ~1,571 | Growth along I-35 continues. Mostly market-rate, some affordable | Mid-Range |
| Downtown / University (78701) | Moderate | 415 Colorado (328 units, mixed-use tower), Paseo at 80 Rainey (557 units), both delivered in 2025 | Luxury |
| South Austin (78704, 78745) | Lower | Thinner pipeline than east and north. Brodie Oaks redevelopment (1,700 residential units) is years out | Mixed |
Source: RealPage Analytics (October 2025), plus our own tracking of individual projects.
A few things jump out from this data.
East Austin took on the most units by a wide margin: nearly 4,000 in a single year. That much supply in one submarket explains why concessions along East Riverside and the Plaza Saltillo corridor have been among the biggest in the city. Zip code 78741 alone added 6,459 apartments over the past decade, and 78702 added another 6,067.
Downtown added fewer units, held back by scarce land and high construction costs. The projects that did open are big towers (415 Colorado, Paseo on Rainey) that add density to an already tight footprint.
The suburbs (Round Rock, Cedar Park, Georgetown) kept building at a steady clip, mostly aimed at renters priced out of central Austin or commuting to employers like Dell, Apple, and Samsung.
Major Active and Recently Delivered Projects by Corridor
Opening dates shift quarterly for some projects, so the tables below stick to named projects that show up in public records, developer announcements, or our own tracking. We’ll update this section as timelines firm up.
Downtown / Rainey Street
| Development | Developer | Location | Units | Delivery Status | Price Tier |
|---|---|---|---|---|---|
| 415 Colorado | Lincoln Property Co. / Kairoi | 415 Colorado St (78701) | 328 (apartments) | Delivered 2025 | Luxury |
| Paseo | Aspen Heights / Pappageorge Haymes | 80 Rainey St (78701) | 557 | Delivered 2025 | Luxury |
| The Modern Austin | Kairoi Residential | Rainey St (78701) | 365 | Delivered Q1 2025 | Luxury |
| Waterline | Lincoln Property Co. | Congress Ave bridge area | 352 (in mixed-use tower) | Projected 2026 | Luxury |
Downtown’s pipeline is mostly luxury high-rises. In our October 2026 pricing, 1-bedrooms at 415 Colorado, Paseo and The Modern started between about $3,200 and $3,400 before specials, and studios near $2,500. With several towers opening in the same window, specials have run deep: 415 Colorado had up to 8 weeks free and Paseo up to 10 on select floor plans, worth up to roughly $6,300-$7,500 on a 1-bedroom over a 12-month lease if the full special applies. If you’re looking at downtown Austin apartments, the specials right now are some of the deepest in the city.
East Austin / East Riverside / Plaza Saltillo
| Development | Developer / Manager | Location | Units | Delivery Status | Price Tier |
|---|---|---|---|---|---|
| Eastpoint | Various | 760 Airport Blvd (78702) | ~300+ | Delivered 2024 | Class A |
| Nexus East | Greystar | 720 Airport Blvd, near E. 7th St (78702) | ~280 | Delivered 2021 | Class A |
| River Park (Phase 1) | Presidium / Partners Group | E. Riverside at Pleasant Valley | 5,000 (full buildout, phased) | Phase 1 opening; full buildout TBD | Luxury / Mixed |
| Multiple mid-rises along E. Riverside | Various | East Riverside corridor (78741) | 2,000+ (aggregate) | Various 2024-2025 | Luxury / Class A |
East Austin has gotten more new construction than any other part of the city. The East Austin apartment market looks nothing like it did three years ago. Thousands of new units have come online along East Riverside, East Cesar Chavez, and the Manor Road corridor. The River Park project alone, when fully built out, will add 5,000 multifamily units. It’s phased over many years, but the scale tells you where this corridor is headed.
Right now, competition between new buildings here is fierce. In October 2026 we were tracking specials of 8 weeks to 2.5 months free at several East Austin communities, and properties along East Riverside were running up to 10 weeks free to fill up.
North Burnet / Domain Area
| Development | Developer | Location | Units | Delivery Status | Price Tier |
|---|---|---|---|---|---|
| Uptown ATX (Solaris House) | Brandywine Realty Trust | 2800 Solaris St | 341 (Phase 1) | Delivered 2024 | Luxury |
| Uptown ATX (future phases) | Brandywine | North Burnet corridor | 2,000+ (multi-phase) | Phased through 2030+ | Luxury / Class A |
| Lenox Burnet | Various | 6801 Burnet Rd (78757) | ~315 | Delivered 2024 | Class A |
| Broadstone North Lamar | Alliance Residential | 6709 N. Lamar Blvd (78752) | ~300 | Delivered 2024 | Class A |
The North Burnet / Domain corridor has loose zoning compared to most of Austin, which is why developers keep coming back. Uptown ATX, the $3 billion, 66-acre redevelopment of the former IBM campus, is the biggest single project in this area. It’ll eventually include a new CapMetro MetroRail station along the Red Line. Phase 1 is done. Future phases will roll out for years. If you’re shopping the north Austin apartment market, this corridor has some of the newest inventory in the metro.
Two of these sit a few miles south of the Domain, in the Brentwood and Crestview area. In our October 2026 pricing, Lenox Burnet (315 units, built 2024 at 6801 Burnet Rd) was offering up to 9 weeks free, with 1-bedrooms starting at $1,299. Broadstone North Lamar (298 units at 6709 N. Lamar, built the same year) had 8 weeks free off base rent, with 1-bedrooms from $1,355. These deals shift month to month, but the pattern holds: newer properties along Burnet and North Lamar are competing hard for tenants.
South Austin / South Lamar / South Congress
| Development | Developer | Location | Units | Delivery Status | Price Tier |
|---|---|---|---|---|---|
| Brodie Oaks Redevelopment | Barshop & Oles / Lionstone | South Lamar at Loop 360 | 1,700 (full buildout) | Long-term; phased TBD | Mixed |
| The Prescott | Richman Signature | 8200 S Congress Ave (78745) | 348 | Delivered 2023 | Luxury |
| Various infill projects | Multiple | South Lamar corridor | Several hundred aggregate | 2024-2025 | Class A / Luxury |
South Austin’s pipeline has been smaller than the east and north sides. The Brodie Oaks redevelopment, a 37.6-acre mixed-use project at South Lamar and Loop 360, will eventually add 1,700 residential units. But that’s a long way off and won’t move the needle on supply in 2026. For now, the south side has fewer new buildings opening, which is one reason occupancy in South Austin held up better than most submarkets (above 94% as of October 2025, per RealPage).
South Austin has concessions, but they aren’t as deep as East Austin or the Domain; there’s less new supply pushing on prices here. Mueller, the planned community on the old airport site, is basically built out for apartments, so don’t expect new supply there either.
What All This New Supply Means for Renters
Here’s where the data gets practical.
When thousands of apartment units open in a short window (which is what happened in Austin from 2023 through 2025), the market tips in renters’ favor. Properties compete for the same pool of tenants. That competition shows up as concessions.
As of 2025, CoStar found that 65% of complexes in Austin were offering some type of concession. A separate Apartment List analysis from October 2025 found that 50% of Austin properties were offering concessions equivalent to at least one month’s free rent, up from 41% just a year earlier. That number was much lower in 2021-2022, when vacancy sat below 4%. Our own count in October 2026: about 7 in 10 Austin communities were running a special, averaging about 7 weeks free.
Common concessions in the current market:
- 4-12 weeks free rent on 12-14 month leases
- Waived application fees (typically $50-$150 per applicant)
- Reduced or waived administrative fees ($100-$400 savings)
- Reduced security deposits
- Look and lease bonuses ($250-$1,000 for signing soon after touring)
- A handful of properties were offering 3 months free in October 2026
How to translate concessions into actual savings using net effective rent:
A new luxury 1-bedroom advertising $2,200/month with 8 weeks free on a 12-month lease:
8 weeks is 56 days, or 1.84 months of rent at 30.42 days a month. You pay 10.16 of 12 months: $2,200 × 10.16 ÷ 12 = $1,862 net effective rent
That’s $338/month less than the advertised price, about $4,050 over the life of the lease. Our apartment search sorts by net effective rent per square foot (actual cost after concessions), not by advertised rent the way sites like Zillow and Apartments.com sort results.
We break down this math in detail in our apartment pricing guide. It’s the one calculation renters skip most often.
If you want to reach out directly, give us a call at 512-360-0852 and we can walk through which new construction communities currently have the deepest concessions in your target area.
The catch renters should know: Concessions usually apply to your first lease term only. At renewal, rent goes back to the full base rate, and any increase lands on top of that. Measured against the net effective rent you paid in year one, a building that gave 2 months free hands you a 20% jump at renewal with no change in base rent. So a new luxury building with big upfront concessions can cost more over 24 months than a Class A property with a stable rent structure and no concessions.
What’s NOT Being Built: The Affordable Housing Gap
The development pipeline tells you what’s coming. Read it closely and it tells you what’s missing, too.
Most new construction in Austin is priced at the upper end of the market. Among the 183 communities we track that opened from 2023 to 2025, 1-bedrooms mostly start between about $1,100 and $1,750 before specials, with a median near $1,290. Downtown towers start well above that.
Austin has made real progress on affordable housing. From 2020 to 2024, approximately 13,343 apartments were income-restricted in the city, making up about 14% of all new housing during that period, according to a RentCafe analysis. The city delivered 4,605 affordable units in 2024 alone, double the 2023 numbers, and Yardi Matrix projects 9,528 affordable units will deliver from 2025 to 2027 across the metro.
That progress counts. Austin had the third-highest rate of new affordable apartment construction in the country from 2020-2024, per RentCafe.
But the gap is still there, mostly for deeply affordable units for households earning 30% or less of area median income. The City of Austin’s 2017 Strategic Housing Blueprint set a goal of adding 60,000 income-restricted units over ten years. Six years in, production was behind target, especially in central and western council districts. The city has approved over $88 million in combined AHFC funding for affordable developments in recent years (1,429 units from a $42 million package plus 728 units from a $46.1 million package). That’s real money. Building still hasn’t caught up to the need.
What this means for you: if your budget is $800-$1,000 a month for a 1-bedroom, almost none of the new construction pipeline starts that low (2 of those 183 communities). About a third start at $1,200 or less, mostly in the suburbs (Georgetown, Pflugerville, Leander, Round Rock) and in southeast and far east Austin, and specials can bring some of them lower. Under $1,000, you’re mostly looking at older buildings and income-restricted units. You can search the City of Austin’s AHOST tool to find income-restricted properties, and review income and rent limits to see if you qualify.
If you’ve hit screening problems (a broken lease, eviction history, or credit issues), new construction is rarely the answer. Those communities usually run the strictest screening. Our second chance apartments guide covers which properties work with less than perfect rental histories.
Some market-rate units have drifted down to more moderate prices as landlords cut rents to compete with new supply. But “filtering” (older market-rate units getting cheaper over time) is hard to predict, and it doesn’t close the gap for Austin’s lowest income renters.
How to Use This Information: Timing Your Move Around Deliveries
If you can be flexible on when you sign a lease, you can time it around the pipeline.
The logic is simple: When a cluster of new buildings opens for leasing in your target area around the same time, competition for tenants heats up. Properties (the new ones trying to fill up and the existing ones trying to keep tenants) offer deeper concessions.
Putting it to work in 2026:
1. Know which corridors still have deliveries coming. East Austin, the Domain/North Burnet area, and Downtown still have projects completing this year. If you’re targeting those areas, you’ll have more negotiating power than in South Austin or Mueller, where the pipeline is thinner.
2. Time your lease to line up with a wave of openings. New buildings usually offer their deepest concessions during initial lease-up, the first 3-6 months they’re on the market. After that, as occupancy rises, the specials tighten.
3. Don’t ignore existing buildings. When a new luxury tower opens down the street, the 5 year old Class A building next door often drops pricing or adds concessions to keep tenants from leaving. These defensive deals can be some of the best values in the market: a fairly new property, discounted to compete with the shiny new building down the block.
4. Count the renewal cost. A new construction deal with 3 months free sounds great until renewal hits and your rent jumps 30%. If you plan to stay longer than one year, calculate the net effective rent across 24 months, not 12. The cheaper looking new building might cost more over two years than the established property with steady pricing.
5. Use the shrinking pipeline to your advantage. Now. Deliveries are dropping sharply in 2026: projections run from 4,600 new units (CoStar) to 12,000-13,000 (Austin Apartment Association). Market analysts expect occupancy to tighten back toward the 95% “effectively full” mark by early 2027, and positive rent growth could resume around then. The renter’s negotiating window is narrowing. If you’ve been thinking about upgrading or relocating within Austin, the coming months likely offer better conditions than what follows.
For a breakdown of which new construction communities in your target neighborhoods have the best concessions right now, reach out to us at 512-360-0852 or start with our apartment search. It sorts by net effective rent per square foot so you can compare apples to apples.
What Nobody Tells You About Moving Into a Lease-Up
New construction concessions are real, and the savings can be big. But moving into a building during its initial lease-up comes with trade-offs that listing sites and property marketing won’t mention. Here’s what to expect.
The amenities might not be ready. That rooftop pool in the rendering? The coworking lounge? The dog park? In a building’s first months, it’s common for amenities to open weeks or months after the first residents move in. Construction timelines slip, final inspections take longer than planned, and management puts move-in ready units ahead of finishing common areas. We’ve seen residents move into buildings where the fitness center didn’t open for 2-3 months after the first leases started. Ask the leasing team exactly which amenities are open today and which are still planned.
Construction noise is part of the deal. If a building delivers in phases (and many of the larger Austin projects do), you may be living next to active construction on unfinished floors, adjacent buildings, or parking structures. River Park on East Riverside, for example, is a multi-phase project where early residents will share the site with ongoing construction for years. This isn’t a dealbreaker for everyone, but it’s worth asking: how many phases are left, what hours does construction run, and which side of the building faces the active work?
Punch list items are normal. New units often have minor defects: paint touch-ups, cabinet hardware that’s loose, a dishwasher that wasn’t connected properly, grout that needs resealing. Good management teams handle punch list items quickly. Less organized teams let them pile up for weeks. Check Google reviews for other new properties run by the same management company to see how they handle the first 6 months.
Staffing is still ramping up. New buildings sometimes open with a skeleton crew. Maintenance can be slower in the first few months than it will be later. Package rooms may not be fully set up. Parking assignments might change as occupancy shifts. These are temporary growing pains, but they’re real.
The upside of moving in early: You get first pick of floor plans, preferred floors, and corner units. You lock in the deepest concessions the building will ever offer. And if you’re flexible on move-in dates, some properties will negotiate extra perks (a specific unit hold, waived pet deposits, or early access) during the initial fill.
The bottom line: deals at brand new buildings are worth chasing, but go in with your eyes open. Tour the actual unit you’ll be renting (not a model), ask which amenities are open now, and check the management company’s track record on other properties.
Frequently Asked Questions
How many new apartments are being built in Austin right now? The metro area delivered approximately 26,715 apartments in 2025, with Austin city proper accounting for about 15,195 of those units. For 2026, projections range from 4,600 (CoStar) to about 12,000-13,000 per the Austin Apartment Association, depending on how the metro boundary is drawn and whether delayed projects finish on schedule. Either way, it’s a steep drop from the 2024 peak.
Which Austin neighborhoods have the most new apartment construction? East Austin led all submarkets with roughly 3,989 units delivered in the year ending Q3 2025, followed by Round Rock/Georgetown (~3,249), Cedar Park (~2,514), and North Central Austin including the Domain area (~1,749). Downtown saw a few big high-rise openings. South Austin had less new supply.
Are new apartment rents going down in Austin? Yes. Rents in Austin have declined approximately 20% from the August 2022 peak. CoStar estimates the average asking rent across the metro was about $1,525 as of Q1 2026. Year-over-year effective rents were down 3.9% through Q3 2025, according to Cushman & Wakefield.
Why are so many apartments being built in Austin? Short answer: population growth outran housing supply for years. Austin grew 10.9% from 2020 to 2024, faster than any other large metro. Tech hiring, people moving in from California, New York, and other expensive markets, and a growing remote work population all drove that demand. Developers responded with a record number of starts between 2021 and 2023. Those projects are opening now, and new starts have cratered.
Will Austin apartment rents go back up? Probably, but not right away. CoStar forecasts that positive rent growth may not resume meaningfully until early 2027. For 2026, the market is still working through extra inventory from the 2023-2025 flood. The good news: you still have time to lock in good terms before that window closes.
What does “net effective rent” mean on new construction apartments? Net effective rent is the actual monthly cost after the concession is spread across the lease term. If a new building advertises $2,000/month with 2 months free on a 12-month lease, the net effective rent is $1,667/month ($2,000 × 10 ÷ 12). It’s a fairer way to compare than advertised rent, especially when new buildings offer different kinds of specials. Our apartment pricing guide breaks down the full math, and our apartment search sorts by net effective rent per square foot automatically.
Is there affordable housing being built in Austin? Yes, but not at the pace needed. About 14% of new housing built in Austin from 2020-2024 was income-restricted, amounting to 13,343 units. The City of Austin has committed over $88 million to affordable development projects. Yardi Matrix projects about 9,528 affordable multifamily units will deliver from 2025-2027. The gap is worst for households earning 30% or less of area median income. Check the City of Austin’s AHOST tool to search income-restricted properties.
When is the best time to get a deal on a new apartment in Austin? Right now. In October 2026, about 7 in 10 communities we track were still running a special, and the run of concessions from the 2023-2025 wave won’t last forever. Deliveries are dropping sharply, and occupancy is expected to tighten toward 95% by early 2027. October through February typically offers the deepest seasonal concessions on top of the oversupply discounts already in play.
Should you wait for a specific new building to open? Maybe. If a building you like is 2-3 months from opening, its first months of leasing bring the best concessions. But don’t wait indefinitely. New buildings fill their most desirable units first (higher floors, preferred layouts), and concessions tighten as occupancy rises above 80-85%. Once a building is stabilized (typically 90%+ occupied), the specials dry up.
What are the downsides of moving into a brand-new building? Amenities may not all be open yet, especially pools, fitness centers, and coworking spaces that require final inspections. If the building delivers in phases, expect construction noise from unfinished sections. Punch list issues (minor cosmetic defects, loose hardware, plumbing adjustments) are normal in new units. And staffing is often still ramping up, so maintenance may be slower in the first few months. None of these are dealbreakers, but they’re worth knowing about before you sign.
What’s the vacancy rate in Austin apartments? Cushman & Wakefield reported Austin’s multifamily vacancy at 10.2% as of Q3 2025, well above the 5-7% range considered healthy. But it’s coming down. C&W’s national year-end report showed Austin vacancy declined roughly 170 basis points from its peak, one of the biggest improvements among major metros. RealPage reported overall metro occupancy at 92.7% as of October 2025. The market hasn’t fully rebalanced, but the worst of the oversupply pressure is easing.
The Market Outlook: What Comes Next
The numbers paint a clear story. Austin went through the biggest apartment building boom in its history. That wave is winding down. Construction starts hit a ten-year low in 2024, under-construction inventory fell 55% year-over-year, and 2026 deliveries are projected to come in far below the 2024 peak.
Demand hasn’t gone away. Austin’s population keeps growing. Tesla, Samsung, Apple, Dell, and Amazon continue to anchor job creation across multiple corridors. Put that demand next to sharply reduced new supply, and the market points toward tightening over the next 12-18 months.
Renters who act before the oversupply runs out can lock in the best pricing and concessions this market cycle will offer. Once occupancy tightens back toward 95%, the advantage shifts back to landlords.
Don’t overthink it. Know what’s being built in your target area, compare by net effective rent, and move when the numbers work for you.
Looking for new construction apartments in Austin with the best current concessions? We follow pricing and specials across more than 1,100 properties every day, through purchased data, our own collection and our team’s research. Call us at 512-360-0852 or start with our apartment search. It’s free, and it sorts by actual cost.
Market data reflects what was available in March 2026, with our pricing and specials updated to October 2026, and will change. Rent ranges and delivery timelines come from our own tracking, publicly available industry data, and third-party sources including RentCafe, CoStar, RealPage, Yardi Matrix, and the Austin Apartment Association. Confirm current pricing and availability with each apartment community. The Austin Apartment Team operates under Spirit Real Estate Group, LLC (Broker License #562021).
