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<p>Austin is the state capital of Texas, an inland city bordering the Hill Country region. Home to the University of Texas flagship campus, Austin is known for its eclectic live-music scene centered around country, blues and rock. Its many parks and lakes are popular for hiking, biking, swimming and boating. South of the city, Formula One's Circuit of the Americas raceway has hosted the United States Grand Prix.</p>
<p>Residents of Austin are known as&nbsp;Austinites.<sup id="cite_ref-Long_2010_17-0" class="reference"></sup>&nbsp;They include a diverse mix of government employees, college students, musicians, high-tech workers, digital marketers, and&nbsp;blue-collar workers. The city's official slogan promotes Austin as "The Live Music Capital of the World", a reference to the city's many musicians and live music venues, as well as the long-running&nbsp;PBS&nbsp;TV concert series&nbsp;<em>Austin City Limits</em>.<sup id="cite_ref-motto_18-0" class="reference"></sup><sup id="cite_ref-atx_motto_19-0" class="reference"></sup>&nbsp;The city also adopted "Silicon Hills" as a nickname in the 1990s due to a rapid influx of technology and development companies. In recent years, some Austinites have adopted the unofficial slogan "Keep Austin Weird",<sup id="cite_ref-20" class="reference"></sup>&nbsp;which refers to the desire to protect small, unique, and local businesses from being overrun by large corporations.<sup id="cite_ref-weird_21-0" class="reference"></sup>&nbsp;Since the late 19th century, Austin has also been known as the "City of the Violet Crown", because of the colorful glow of light across the hills just after sunset.<sup id="cite_ref-22" class="reference"></sup></p>
<p>In 1987, Austin originated and remains the site for&nbsp;South by Southwest&nbsp;(stylized as SXSW and colloquially referred to as&nbsp;<em>South By</em>), an annual conglomeration of parallel&nbsp;film,&nbsp;interactive media, and&nbsp;music festivals&nbsp;and&nbsp;conferences that take place in mid-March. Emerging from a strong economic focus on government and education, since the 1990s, Austin has become a center for technology and business. <sup id="cite_ref-23" class="reference"></sup><sup id="cite_ref-austin_history_24-0" class="reference"></sup>A number of&nbsp;Fortune 500&nbsp;companies have headquarters or regional offices in Austin, including&nbsp;3M,&nbsp;Advanced Micro Devices (AMD).<sup id="cite_ref-26" class="reference"></sup></p>

<p>Barton Creek is a census-designated place (CDP) in Travis County, Texas, United States. As of the 2010 census, the CDP population was 3,077. Barton Creek is ranked second in Texas based on per capita income. As of the census[1] of 2000, there were 1,589 people, 707 households, and 509 families residing in the CDP. The population density was 296.4 people per square mile (114.5/km2). There were 754 housing units at an average density of 140.6/sq mi (54.3/km2). The racial makeup of the CDP was 93.20% White, 2.39% African American, 0.19% Native American, 2.77% Asian, 0.06% Pacific Islander, 0.50% from other races, and 0.88% from two or more races. Hispanic or Latino of any race were 3.71% of the population. There were 707 households, out of which 22.1% had children under the age of 18 living with them, 67.6% were married couples living together, 3.5% had a female householder with no husband present, and 28.0% were non-families. 22.3% of all households were made up of individuals, and 1.1% had someone living alone who was 65 years of age or older. The average household size was 2.25 and the average family size was 2.63. In the CDP, the population was spread out, with 17.6% under the age of 18, 4.3% from 18 to 24, 29.5% from 25 to 44, 40.1% from 45 to 64, and 8.5% who were 65 years of age or older. The median age was 44 years. For every 100 females, there were 100.4 males. For every 100 females age 18 and over, there were 101.7 males. The median income for a household in the CDP was $158,623, and the median income for a family was $172,909. Males had a median income of $100,000 versus $44,716 for females. The per capita income for the CDP was $110,504. About 1.3% of families and 3.6% of the population were below the poverty line, including none of those under the age of eighteen or sixty-five or over.</p>

Barton Creek

<p>Bordering Lady Bird Lake, the Barton Hills area is a top destination for outdoor recreation. 350-acre Zilker Park features a spring-fed pool called Barton Springs, plus botanical gardens, a sculpture garden and athletic fields. It also plays host to the annual Austin City Limits Music Festival. The Barton Creek Greenbelt offers miles of rugged hiking and biking trails as well as seasonal swimming holes.</p>
<p>Barton Hills&nbsp;is a neighborhood in&nbsp;Austin,&nbsp;Texas. It is located in south Austin, and encompasses part of&nbsp;ZIP code 78704. Barton Hills is bounded by&nbsp;South Lamar&nbsp;and&nbsp;Zilker&nbsp;neighborhoods to the east, Barton Springs Road and&nbsp;Zilker Park&nbsp;to the north, Barton Creek and the&nbsp;Spyglass-Barton's Bluff&nbsp;neighborhood to the west and the&nbsp;Capital of Texas Highway to the south. Barton Hills is primarily residential, with the oldest homes dating back to the 1940s. Additionally, the area is home to several attractions including the Barton Creek Greenbelt nature preserve and the&nbsp;Umlauf Sculpture Garden and Museum. Just north of the neighborhood are&nbsp;Barton Springs Pool, a natural spring fed by Barton Creek, and the 351-acre Zilker Park.</p>
<p>According to data from the&nbsp;U.S. Census Bureau, the population of the area defined as Barton Hills was 7,993 in 2009, across an area of 3.199 square miles. The population density per square miles is 2,499, just below the citywide average of 2,610 people per square mile. The racial breakdown is 80% white, 12% Hispanic/Latino, 4% Asian/Pacific Island, 2% black and 2% other. Median household income in 2009 was $51,930, slightly above the median household income for the city at large. The average estimated value of detached houses in 2009 was $395,682, notably higher than the citywide average of $286,025.<sup id="cite_ref-5" class="reference"></sup></p>

Barton Hills

<p>The city of Bee Cave is served by the Lake Travis Independent School District. Three elementary schools, Bee Cave Elementary School in Bee Cave, Lake Pointe Elementary School in an unincorporated area, and Lakeway Elementary School in Lakeway, serve Bee Cave and sections of Lakeway. Lake Travis Middle School and Bee Cave Middle School serve most of Bee Cave while Hudson Bend Middle School serves portions to the northwest; both schools are in unincorporated areas. Lake Travis High School, in an unincorporated area, serves all of Bee Cave. Lake Travis Middle School served the entirety of Bee Cave until 2019 when Bee Cave Middle School began operations. It is now served both schools. Eanes Independent School District and Westlake High School (Texas) are also in the area but do not serve Bee Cave.</p>
<p>As of the&nbsp;census<sup id="cite_ref-GR2_3-1" class="reference"></sup>&nbsp;of 2020, there were 9144 people and 4044 households in the city. The&nbsp;population density&nbsp;was 252.0 people per square mile (97.4/km<sup>2</sup>). There were 4044 housing units at an average density of 94.5 per square mile (36.5/km<sup>2</sup>). The racial makeup of the city was 69.6%&nbsp;White, 2.8%&nbsp;Black, 0.2%&nbsp;Native American, 13.1%&nbsp;Asian, 3.4% from&nbsp;other races, and 10.9% from two or more races.&nbsp;Hispanic&nbsp;or&nbsp;Latino&nbsp;of any race were 12.8% of the population.</p>
<p>There were 207 households, out of which 50.2% had children under the age of 18 living with them, 79.7% were&nbsp;married couples living together, 2.4% had a female householder with no husband present, and 16.9% were non-families. 9.7% of all households were made up of individuals, and 2.4% had someone living alone who was 65 years of age or older. The average household size was 3.17 and the average family size was 3.38. In the city, the population was spread out, with 33.1% under the age of 18, 3.8% from 18 to 24, 34.8% from 25 to 44, 23.2% from 45 to 64, and 5.2% who were 65 years of age or older. The median age was 36 years. For every 100 females, there were 108.9 males. For every 100 females age 18 and over, there were 104.2 males.</p>
<p>In 2015 the median income for a household in the city was $129,270, and the median house value was $597,091. Males had a median income of $100,000 versus $59,000 for females. The&nbsp;per capita income&nbsp;for the city was $53,911. None of the families and 2.7% of the population were living below the&nbsp;poverty line, including no under eighteens and none of those over 74.</p>

Bee Cave

<p>Cedar Park is a major suburb of Austin in the state of Texas, the center of Austin is approximately 16 miles to the southeast of Cedar Park. According to the U.S. Census, the city's estimated population as of July 2017 was 75,226</p>

Cedar Park

<p>Clarksville was established by James Clark, who moved to the area in 1833 and laid out a town site. When Red River County was organized in 1835, Clarksville was chosen as the county seat, beating out the community of La Grange (later named Madras). Isaac Smathers built one of the first houses, which was later owned by Charles DeMorse. The town was incorporated by an act of the Texas Congress in 1837, and within a few years it became an educational and agricultural center. In 1841, John W.P. McKenzie, a Methodist minister, retired from serving as a missionary and moved to a former plantation about 3 miles (4.8 km) SSW of Clarksville. Naming his new home Itinerant's Retreat, he soon began offering classes for boys who lived in the surrounding area. During that same year, 16 boys enrolled in classes in his home. There was more demand than he could accommodate in his home, so he had a log cabin to the plantation to serve as a more conventional school. As the enrollment grew, he added 3 large wooden buildings to serve as dormitories and opened the school to girls and boarding students.[b] By 1854, McKenzie College had 300 students and 9 faculty members participating in a 10-month school year. Before the American Civil War began, Rev. McKenzie's school was the largest institution of higher education in Texas during the 1850s, and trained almost all of the new Methodist ministers in the state. Although the school was always considered a Methodist institution, it actually continued to be owned by McKenzie. He tried to turn it over to the local Methodist Conference in 1855 and 1860, but each time the Conference declined to accept certain unspecified conditions, so the official transfer never occurred. By the fall of 1861, most of the male students had already enlisted in the Confederate Army. In 1863, the school had only 33 students. The average number rose to 74 during the years 1864&ndash;67. Unable to obtain sufficient financing to continue, Rev. McKenzie closed the school permanently on June 25, 1868. In 1844, Clarksville Female Academy opened, after moving from Pine Creek, where it was originally founded in 1840. A Clarksville post office opened in 1846, and by 1838 there was semiweekly mail service between Clarksville and Natchitoches, Louisiana. A frame courthouse was built in 1840, and replaced with a brick structure on the main square in 1850. A brick jail was built nearby in 1852. The First Presbyterian Church was organized in Shiloh, Gregg County, Texas in 1838, but relocated to Clarksville in 1844. The Texas State Historical Society says this is "...among the oldest continually operating Protestant churches in the state." The Texas State Historical Society also reports that Clarksville was the most important commercial center in this part of Texas from the late 1830s until the Civil War. Once the Red River proved navigable by steamboats, goods could be shipped directly from New Orleans to Rowland's Landing, 15 miles (24 km) north of Clarksville, then hauled overland by wagon. By the time the war broke out, the city had a population of about 900. Economic recovery from the Civil War was stimulated when the Texas and Pacific Railway reached Clarksville in 1872, bringing new settlers and new businesses. The 1870 census showed a population of 613.[c] By 1885, the population had grown to about 1,200. The city could then boast of a new limestone courthouse, five white and two black churches, a Catholic convent, three schools, two banks, two flour mills, and a weekly newspaper, the Clarksville Times. In 1914, the city had 3,000 residents and had added a waterworks, two newspapers, an ice plant, and an electric power plant. After that, outside events such as two world wars, the Great Depression, and increased competition from other cities (e.g., Dallas, Paris, Bonham, and Texarkana) had begun to slow Clarksville's growth.[5] As shown by the census table, the population in 2000 was very near to that in 1920.</p>

Clarksville

<p>With a rich sense of history and a thriving entertainment scene, Downtown is Austin’s beating heart. Late-19th-century architectural landmarks, including the iconic Texas State Capitol (1888) and the Driskill Hotel (1886), mix with modern museums. Music lovers flock to celebrated venues like Austin City Limits Live at The Moody Theater and Stubbs BBQ, while revelers hit the high-energy bars along East 6th Street.</p>

<p>Evolving East Austin is a diverse area. Early 1900s bungalows give way to modern condos, while cool cocktail bars mingle with Southern-style eateries, including iconic Franklin Barbecue. In a circa-1841 building, the French Legation Museum documents the Republic of Texas era. Other museums examine the city&rsquo;s musical history and African-American experience. East Cesar Chavez draws hipsters for drinks, art and bands.&nbsp;</p>

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<div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809041946.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="quote-furniture-trends-for-2024-respace-austin.png" data-file-size="71462" data-origin="," style=""></figure></div><p><br></p><p>It is significant for tenants to know furniture trends as it enables them to personalize and decorate their living spaces in an updated and tailored manner. Staying informed about these trends enhances comfort, functionality, and space utilization while promoting sustainable choices and maintaining a fresh and modern environment. It can also increase the resale value of furniture and create appealing settings for visitors. Being aware of furniture trends fosters a sense of community among tenants and provides an opportunity for them to exchange design ideas and recommendations. In summary, being informed about furniture trends empowers tenants to make informed decisions and create attractive and functional homes.</p><p><br>Get ready to explore a world of style and design as we delve into the cutting-edge furniture trends for 2024! From the elegance of Vintage Glamour to the innovation of Smart Furniture<br>Come along as we uncover how these trends can transform and elevate any living space.</p><p><br></p><h3><span style="color: rgb(169, 217, 65)">Industrial Chic: A Fusion of Rustic and Modern</span></h3><p>Industrial Chic, a prominent trend in the realm of interior design, seamlessly intertwines raw, rustic elements with sleek modern aesthetics. Characterized by the use of materials such as metal, wood, and concrete, this style encapsulates the spirit of functionality and elegance. Exposed pipes, distressed wood, and metal accents are key components that contribute to the rugged yet refined ambiance. As one of the defining furniture trends for 2023-2024, Industrial Chic adds an air of modernity and creativity to any space, ensuring a harmonious blend of past and present.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042133.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="industrial-chic-furniture-trends-for-2024-respace-austin.png" data-file-size="1159486" data-origin="," style=""></figure></div><h3><br><span style="color: rgb(169, 217, 65)">Natural Materials: A Return to Nature</span></h3><p>In 2024, the allure of nature takes center stage in interior design, embracing the calming embrace of natural materials. Wood, stone, and organic fabrics create an inviting and warm atmosphere, embodying minimalistic design with an emphasis on textures and patterns. The neutral color palette, characterized by earthy tones, establishes a serene backdrop for any room. This timeless and classic approach not only reflects an eco-friendly and sustainable ethos but also resonates with those seeking tranquility and an everlasting connection to the natural world.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042144.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="naturals-materials-furniture-trends-for-2024-respace-austin.png" data-file-size="776110" data-origin="," style=""></figure></div><h3><br><span style="color: rgb(169, 217, 65)">Retro Modern: A Nostalgic Revival</span></h3><p>Retro Modern, a delightful fusion of modern design and vintage charm, heralds an era of bold patterns, vivid colors, and clean lines. Drawing inspiration from the past while embracing contemporary sensibilities, this trend artfully intertwines elements from different epochs. With bold geometric patterns, vintage-inspired colors, and a diverse mix of materials, Retro Modern offers a fresh perspective on tradition. As 2024 unfolds, this style is poised to captivate even more hearts, offering a dash of nostalgia and a touch of playfulness to interior spaces.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042154.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="retro-modern-furniture-trends-for-2024-respace-austin.png" data-file-size="718103" data-origin="," style=""></figure></div><h3><br><span style="color: rgb(169, 217, 65)">Vintage Glamour: Timeless Elegance</span></h3><p>Elegance and luxury reign supreme in Vintage Glamour, a style that seamlessly marries classic opulence with modern sophistication. Velvet and satin fabrics, metallic accents, and bold patterns like Art Deco and floral prints converge to create an exquisite and timeless allure. The fusion of classic and modern elements allows for endless possibilities in design, ensuring that Vintage Glamour remains a standout choice among furniture trends. With a nod to the pattern trends of 2024, including the resurgence of Art Deco and floral motifs, this style promises to envelop spaces in an aura of grandeur and allure.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042205.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="vintage-glamour-furniture-trends-for-2024-respace-austin.png" data-file-size="941125" data-origin="," style=""></figure></div><h3><br><span style="color: rgb(169, 217, 65)">Mix and Match: Unleash Your Creativity</span></h3><p>For those who revel in breaking the mold, Mix and Match offers an eclectic and playful approach to interior design. By combining different furniture styles, colors, and patterns, this trend enables the creation of a personalized and distinctive space. The juxtaposition of vintage and modern pieces, along with the layering of textures and unexpected color combinations, culminates in an artful balance. The result? A space that exudes both sophistication and playful individuality, inviting creativity and self-expression.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042215.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="mix-and-match--furniture-trends-for-2024-respace-austin.png" data-file-size="939566" data-origin="," style=""></figure></div><h3><br><span style="color: rgb(169, 217, 65)">Biophilic Design: A Connection to Nature</span></h3><p>Biophilic Design, a testament to our innate connection with nature, embraces elements such as wood, stone, and organic fabrics to create environments that promote comfort and well-being. Natural patterns, light sources, and indoor plants infuse spaces with tranquility, reducing stress and enhancing overall health. As the world becomes more attuned to the importance of well-being, Biophilic Design stands as a testament to the power of nature in fostering harmony between the human spirit and the built environment.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042229.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="biophilic-design-furniture-trends-for-2024-respace-austin.png" data-file-size="1228249" data-origin="," style=""></figure></div><h3><br><span style="color: rgb(169, 217, 65)">Smart Furniture: A Symphony of Functionality and Technology</span></h3><p>In an age where convenience and innovation intersect, Smart Furniture emerges as a trend that seamlessly integrates modern technology with multi-functional design. Offering features such as built-in charging ports, space-saving configurations, and customizable options, this trend enhances productivity, organization, and overall living experiences. With its modern aesthetics and practicality, Smart Furniture is not merely a nod to the future but a realization of the seamless synergy between technology and design.</p><div><br></div><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230809042242.png" alt="" data-rotate="" data-proportion="true" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="smart--furniture-trends-for-2024-respace-austin.png" data-file-size="744712" data-origin="," style=""></figure></div><div><br>The world of interior design is a canvas of boundless creativity, where the convergence of diverse styles and trends paints a captivating tapestry of self-expression. As 2024 unfurls, the furniture trends discussed – from Industrial Chic's raw elegance to the luxurious embrace of Vintage Glamour, and from the playful allure of Mix and Match to the nurturing ambiance of Biophilic Design – are poised to reshape our living spaces, enriching our lives and inviting us to embrace the beauty of diversity and innovation.<br></div><div><br></div><hr class="__se__solid"><h6><span style="font-size: 8px">Source:&nbsp;</span><a href="https://www.linkedin.com/pulse/2024-furniture-trends-7-must-see-styles-watch/"><span style="font-size: 8px">https://www.linkedin.com/pulse/2024-furniture-trends-7-must-see-styles-watch/</span></a></h6>

Stay Ahead of the Curve: Top Furniture Trends for 2024: Discover the seven must-see furniture styles that are set to make waves in the industry as we enter 2024. From bold color schemes to unique textures and materials, these trends will elevate any living space.

Top Furniture Trends for 2024: Stay Ahead of the Curve

Furniture Trends You Must Know For 2024

<p>BY ANTOINETTE ODOM ,&nbsp;<span style="color: rgb(4, 45, 77)">PUBLISHED 12:00 PM CT JUL. 09, 2023</span></p><p><br></p><p style="text-align: start">TEXAS — A new analysis from&nbsp;<a href="https://www.movebuddha.com/blog/visualizing-us-cities-2100/">moveBuddha</a>, a moving services site, foresees Austin as being the third biggest metro area in the next 77 years. By 2100, the projected population growth could be 22.29 million people, according to the report.</p><p style="text-align: start">Studying population and migration trends, moveBuddha predicted Dallas-Fort Worth as the largest metro area by 2100, with Houston and Austin following right behind. These three Texas cities are anticipated to oust New York, Los Angeles and Chicago to become the most populous cities in America.</p><p style="text-align: start">The report approximated Dallas-Fort Worth’s population size at 33.91 million, and Houston at 31.38 million by 2100. “The future of America may lie in Texas,” the author of the report said.</p><p style="text-align: start">Data from the U.S. Census Bureau in 2022 shows Austin as the tenth biggest city in the country, with an estimated population of 974,447. Between 2010 and 2020, the city had the second-fastest growth population rate in the U.S. The total population for the Austin-Round Rock-Georgetown metro area is around 2.3 million. In April, Round Rock was named the No. 1 best place to live in America by Bankrate<em>.</em></p><p style="text-align: start">As cities expand, the effects of climate change grow more pronounced, moveBuddha stated. “Like the rest of Texas, Austin will be much hotter by 2100. Along with sweltering temperatures, water scarcity could be an issue.”</p><p style="text-align: start">This isn’t only a Texas problem though, many other states are in the line of fire as global warming goes into a dangerous territory.</p><p style="text-align: start">“According to one GDP projection through 2099, over three-quarters of U.S. countries will suffer economically because of climate damage,” the report said. “That could be from everything from heat-related deaths to sea-level rise to increased natural disasters.” However, if Texas got a handle on global warming through adapting new technologies for extreme weather and heat, the state could be “America’s haven.”</p><p style="text-align: start">As for issues with Texas’ water infrastructure, the city of Austin and others are in the works of developing plans to fix the system. Although a challenge, Texas lawmakers have agreed to spend billions of dollars on new water supply projects and repairs to the infrastructure.</p><p style="text-align: start">For more information and a complete look at the report visit,<a href="https://www.movebuddha.com/blog/visualizing-us-cities-2100/">movebuddha</a>.</p><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230714083723.jpg" alt="" data-rotate="" data-proportion="true" data-size="739px,513px" data-align="none" data-file-name="pic 2 Ar.jpg" data-file-size="117781" data-origin="," style="width: 739px; height: 513px;"></figure></div>

Austin, Texas will grow to be one of the biggest US cities. Austin Real Estate development and growth will be the highest in the USA. 

How big is Austin, Texas. Austin Population growth projections.

Study: Austin projected as 3rd largest metro in U.S. by 2100, Dallas No. 1

<p>Courtesy of <a href="https://product.costar.com/home/news/author/8e56755b6c49786acbf1a0290ef46b7f" rel="noopener noreferrer" target="_blank" id="article-author-8e56755b6c49786acbf1a0290ef46b7f">Jay Lybik</a>&nbsp;<span style="color: rgb(44, 43, 45);font-size: 18px">CoStar Analytics&nbsp;July 7, 2023 | 7:45 AM</span>?</p><p><br></p><h3 style="text-align: start">The High-Flying Rent Growth Markets of 2021 Hit a Wall of Supply and Forgot the Rent Growth Parachute</h3><p><br></p><p><br></p><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230709033326.jpg" alt="" data-rotate="" data-proportion="true" data-size="711px,476px" data-align="none" data-file-name="Apt1.jpg" data-file-size="219494" data-origin="," style="width: 711px; height: 476px;"></figure></div><p style="text-align: start"><br></p><p style="text-align: start">Multifamily rent growth in the United States is experiencing its largest retreat on record, with rents growing just 1.1% since the end of 2021 after hitting an all-time high of 10.7%.</p><p style="text-align: start"><a href="https://product.costar.com/Market/#/search/map" target="_blank">The 10 markets</a>that led the explosive rent growth during 2021 have witnessed rent deceleration two or three times faster than the nation. Palm Beach, Florida, stands out as the market that has watched rent growth slow the most, going from growth of 27.9% year over year to zero over the past six quarters.</p><p style="text-align: start">On average, these 10 markets saw rents decline by 20 percentage points in the past year and a half. Worst of all, seven of the markets — Atlanta; Austin, Texas; Jacksonville, Florida; Las Vegas; Orlando, Florida; Phoenix; and Raleigh, North Carolina — all are now registering negative rent growth.</p><p style="text-align: start">Record multifamily completions combined with soft demand created the perfect storm of negative market conditions, especially in Sun Belt locations. Vacancy rates in the 10 markets noted above skyrocketed by 250 basis points to 600 basis points compared to only a 210-basis-point increase nationally over the last 18 months. Jacksonville saw its vacancy rate jump from 5.6% at the end of 2021 to 11.6% today. Atlanta isn’t far behind with vacancy up 450 basis points to 10.6%. Pushing the Atlanta vacancy rate up has been 24,500 new units coming on line with just 1,800 units of demand.</p><p style="text-align: start"><br></p><div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20230709033300.jpg" alt="" data-rotate="" data-proportion="true" data-size="848px,567px" data-align="none" data-file-name="Apt2.jpg" data-file-size="197032" data-origin="," style="width: 848px; height: 567px;"></figure></div><p style="text-align: start"><br></p><p style="text-align: start">Markets that have not seen such large supply-demand imbalances have maintained respectable rent growth numbers. For example, Cincinnati’s rent growth stands at 4.6%, above its pre-pandemic average of 3%, and its vacancy rate sits at 5.4%, below the national average. Columbus, Ohio, has been another standout market over the past year and a half, with year-over-year rent growth holding at 3.7%.</p><p style="text-align: start">Over the next three to four quarters, supply outstripping demand should continue nationally, which will keep downward pressure on rents. Sun Belt markets, like the 10 mentioned that have seen the largest pullback in rent growth, are experiencing the highest rates of new construction and therefore will be most at risk for further rent deceleration, including outright rent declines.</p><p style="text-align: start">In contrast, Midwest and Northeast markets remain the most stable given their more modest construction pipelines and are projected to see rent growth in the 2% to 3% range into 2024.</p>

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I’ve had the pleasure of working with Courtney Harden, she was very nice and so helpful, I know she has a super busy schedule but she’s always responded back to me in a timely manner... she was amazing to work with and when I do decide to move again I will be contacting her.

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We are students from Germany, we found about REspace through friends who are already clients and we couldn't be more happy with our realtor, we found the perfect housing for our needs, the people were kindly, the service was great and our realtor was very patient because our english is not the best

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Will provided exceptional advice and quick service. He helped my boyfriend and me find an apartment over the weekend. We couldn't have found our awesome new duplex in Hyde Park without his assistance. Thank you to Will, Tony, and the team!

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Tony Lazarov over at REspace is definitely one of the best real estate brokers in Austin.  He has a great eye for properties and somehow manages to see hidden potential and find gems that other brokers have overlooked.  Most importantly, he is responsive and really works hard!  When other brokers sit around waiting for deals to happen, Tony takes the initiative and makes them happen.  I cannot count how many "multiple offer" situations I have been in where I got the property because Tony just out hustled the other agents and convinced the seller to sell to me.

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Thank you so much for all your help Sandi Posey, you've been a tremendous resource and best yet, you have been the most responsive Realtor I've been in contact with! Thank you

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Great company for international students looking for housing near campus. Company broker also speaks Russian!

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Sandi helped me find my first apartment near UT campus.  I was new to leasing and not sure where to start but Sandi knows the market around campus very well and was able to find a great place that fit all my needs and my budget.  She explained the entire process in a way that made sense, and was responsive and pleasant throughout.  I will definitely use her and REspace again and will refer them to my friends & family.

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Tony and Will delivered quick and friendly service. My boyfriend and I were able to find an awesome duplex in Hyde Park for an even better price, and we couldn't have done so without their help. Thank you, REspace!

Tony and Will delivered quick and friendly service

My husband and I were looking for an investment property. We have worked with many different agencies and agents but never has such a great experience as with Respace. The agent we had knew the market very well and was very patient and professional. He helped us understand the market and the different areas and got us a great property. After we purchased the property REspace helped us find great tenants. We cannot be happier with  the service.

The agent we had knew the market very well 

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