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Conor Sen suggests that, within the Apartment List segment of institutional or class A rental properties, Austin has room for rents to increase by over 20 percent without tenants becoming overextended on a rent-to-income basis.
Sen also notes that tenant incomes would likely continue to increase during any recovery in rental prices.
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Conor Sen previously noted that declining U.S. unemployment and gains in the stock market have been boosting confidence among apartment operators in the rental sector, according to his analysis in a recent report. He has also highlighted institutional interest in the housing market, pointing to Berkshire Hathaway's purchase of Taylor Morrison and increased stake in Lennar in another recent article. These observations provide additional context to his outlook for rental trends in Austin.