Weird happenings in Austin market (bedroom rentals)
Anyone out there rent bedrooms? I have some apartment units and bedrooms I rent. Noticed demand for apartments is way up but demand for bedrooms is way down. Usually its the opposite given bedrooms are a lower price. Seems like Austin is going through something weird economically.
Seems like people are not desiring communal living anymore? Anyone else seeing this trend?
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Rental demand overall has shrunk in Austin.
Could be seasonal, by the room is popular among students, but school’s out for summer… where are your rentals?
@Eliott Elias Really you have see lower demand for rentals? Do tou think its because less people are moving to Austin? Or work from home people are moving back to where they were before?
@Erika Albert This is true. Summer months usally are slower because UT students are out of town. However I have never seen it be this slow before. Also where are you posting your listings? Craigslist? FB marketplace?
@Joseph Weisenbloom now that rents are stabilizing and there is more inventory, it's easier for people to rent a full apartment or home versus just a room. As others have mentioned, renting rooms is more for students or temporary workers. Rental demand is down from the pandemic, but still healthy.
I don't think less people are moving to Austin...it's still avg ~180 people a day if I'm not mistaken. Just a different market and more inventory to @Ryan Kelly's point.
I recently moved from Chicago, and up there, it seemed like covid wiped out individual room rentals. And I know that's a blanket answer used for most things...but it's also possible with all of the implants coming into Austin, that they're bringing that mindset with them.
@Ryan Kelly Over the years I have rented to all types of people. Mostly young adults that just moved to Austin and want to make friends.
@Zack Oberlies Yea it seems people dont want to live with other people anymore. For me that was the most exciting thing about Austin was communal living and meeting people. Now it seems newcomers don’t want to keep Austin weird but turn Austin into a bland city like where they came from.