This Austin neighborhood is booming with a crazy number of new apartments
Apartments have been popping up at a staggering rate since the recession — Austin and the rest of Texas included. A new report from RentCafe details the great rental boom, highlighting the top neighborhoods in the U.S. that have gained the most new apartments post-recession.
Using 2010-2016 data from sister companies Yardi Matrix and Property Shark, the rental listing website analyzed the 30 largest U.S. cities, ranking the neighborhoods with the most new complexes with 50 units or more. Texas neighborhoods are all over the list.
At No. 19 is Austin's North Burnet neighborhood. In the six-year period, the area, which includes The Domain, added six new buildings with 2,739 total units. This new construction accounts for a whopping 87 percent of all apartments in the neighborhood.
Two neighborhoods in Dallas lead the Texas representation in RentCafe's top 20. Uptown ranks No. 5 with 5,839 units and 22 buildings, and Oak Lawn is No. 7 with 4,892 units and 17 buildings.
Houston boasts the most neighborhoods on the list: Washington Avenue-Memorial Park, No. 9 with 3,569 units; Greenway-Upper Kirby, No. 13 with 3,147 units; Memorial, No. 14 with 3,029 units; and Greater Uptown, No. 15 with 3,008 units. San Antonio's Northwest neighborhood also appears. It's No. 18, with 2,785 units and 12 buildings.
Leading the nation in new apartment construction is Long Island City in New York. The neighborhood gained 12,533 new units, nearly double that of the No. 2 neighborhood, downtown Los Angeles.