Austin, TX
As rents across the country go up, Austin prices continue to fall – Austin Monitor
Photo by Gabriel C. Pérez/ KUT News
During the pandemic, Austin came to exemplify the story of housing across the country: Prices went through the roof. In 2021, the average monthly rent in the region rose 25 percent. Similar increases happened in cities in California and Arizona.
But that narrative has flipped. As tens of thousands of new apartments have opened in Austin and the rate of people moving to the city has slowed, rent prices have been falling. For more than a year.
According to new numbers from Zillow, Austin is now leading the country in declining rents. But this time few other large U.S. cities are following.
The typical monthly rent in the Austin metro is down nearly 4 percent compared to last summer. Rents in similarly priced cities – including Dallas, Phoenix and Atlanta – are rising. The average monthly rent in Austin is now anywhere between roughly $1,500 and $1,800.
In the early years of the pandemic, demand for apartments rose. Tens of thousands of people moved to the city because they could suddenly work remotely. Meanwhile, some residents already living here decided to leave shared living situations and find apartments on their own.
In response to the demand for housing, rent prices rose at an incredible pace. To builders, this indicated a need and a business opportunity: more homes.
“A lot of builders … they look at the demographics and they look at the job growth and they look at projections and they say, ‘You know what, this is going to be a good place for me to build,’” Kim Betancourt, vice president of multifamily research at mortgage-backer Fannie Mae, said. “This is what happened with Austin.”
In 2021, local governments in the Austin area issued permits to build nearly 51,000 homes, according to census data. While not every developer that receives a permit eventually builds, this represents a rate of permitting much higher than in other cities at the time.
Because construction takes several years, apartments permitted years ago are now opening. At the same time, the population surge that defined Austin in 2020 and 2021 has slowed.
More homes, fewer new people. Thus, rent prices began to fall last summer.
“It’s that building bonanza that helped to bring costs back down to earth,” Orphe Divounguy, a senior economist at Zillow, said.
Divounguy stressed that “back down to earth” does not necessarily mean more affordable. In 2022, nearly half of all renters in the Austin area lived in housing they could not afford, according to Harvard University’s Joint Center for Housing Studies.
Economists predict that Austin’s falling rents won’t last beyond next year. Because of construction costs, developers are building less than they were just two years ago.
“It’s not gonna last long,” Betancourt said.
This story was produced as part of the Austin Monitor’s reporting partnership with KUT.
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AUSTIN — Texas defensive back Jelani McDonald made his mark in the Longhorn secondary on Saturday.
McDonald recorded his first career interception, and it was one for the books.
With five minutes left in the first half as Texas led 14-7, Kentucky had possession. The crowd went wild as McDonald dove for the ball to get possession back to the Longhorn offense. Commentators described the play as a “Superman” performance.
WENT FULL SUPERMAN FOR THIS PICK 👀🤯@TexasFootball x 📺 ABC pic.twitter.com/ZV5AxOSWo7
— Southeastern Conference (@SEC) November 23, 2024
McDonald’s teammates also had their takes on the play.
“Superman…I mean everybody knows how athletic Jelani is, we’ve been talking about that all season, and even tied back to last season,” Michael Taaffe said. “He’s so athletic. I’m glad he finally got to show that and for you all to see, because we’ve known that forever.”
McDonald has totaled 22 tackles this season, playing in every conference and two non-conference games.
While he’s not a name on everyone’s mouths, like Quinn Ewers, Isaiah Bond, Taaffe or Kelvin Banks Jr., McDonald proved once and for all his impact on the team. McDonald could very much have a breakout season in 2025, and this play, which recorded Texas’ 16th interception of the season taking the national record, opened up the doors for his campaign.
That pick could even be awarded play of the year.
“I’ve been just happy to see him grow and get better as a player,” Anthony Hill Jr., who played with McDonald in the Freshman All-American game, said.
“He was playing corners, so I was like ‘Who’s this guy,’ and then one the game, he’s playing linebackers, and at one game he’s playing safety,” Hill said.
McDonald has one more shot to showcase his talent in the regular season as Texas faces Texas A&M next Saturday. But with two years left of eligibility, the sky is the limit.
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AUSTIN, Tx. (WKYT) – The Kentucky Wildcats (4-7, 1-7 SEC) ended their SEC slate with a 31-14 loss on the road against the No. 3 Texas Longhorns (10-1, 6-1 SEC). For the first time in eight seasons, UK will not be bowl eligible.
Junior quarterback Brock Vandagriff started the game for the Cats, going 3-7 for 51 yards, one touchdown and one interception. The staff opted to once against start true freshman Cutter Boley in the second half. The LCA alum wet 10-18 for 160 yards and an interception in the loss.
The Wildcats went 1-2 in the red zone and just 2-12 on third down conversions.
Senior inside linebacker Jamon Dumas-Johnson had a 25-yard fumble return for a touchdown, and also led the defense in tackles with eight.
Texas junior QB Quinn Ewers went 20-31 for 191 yards and two touchdowns for the Longhorns.
The season concludes next week as Kentucky hosts the Governor’s Cup game against Louisville at Kroger Field. Kick-off is set for noon on the SEC Network.
Copyright 2024 WKYT. All rights reserved.
Austin, TX
Texas’ Quinn Ewers competes against Simone Biles, others in DICK’S Sporting Goods competition
Simone Biles, Dak Prescott, Chris Paul and Quinn Ewers are decorating DICK’S store in their hometowns of Houston, Dallas, San Antonio and Austin.
Amazon’s holiday shopping features includes a Virtual Holiday Shop
In November, Amazon opened its Virtual Holiday Shop for shoppers with the top 100 gifts, plus decorations and stocking stuffers.
Amazon
DICK’S Sporting Goods is joining in on the holiday cheer — along with a dose of competition among Texas cities, featuring some of the Lone Star State’s best athletes.
Simone Biles, Dak Prescott, Chris Paul and Quinn Ewers will be competing, just not on any athletic field. They are each responsible for decorating a DICK’S Sporting Goods store in their hometown, competing for the title of DICK’S Holiday Decorating Officer and a trophy.
The athletes have begun decorating at stores in Houston, Dallas, San Antonio and Austin. Videos by DICK’S Sporting Goods offer a sneak peek of each as the athletes add their own flair to spread holiday cheer.
The competition comes as part of DICK’S Sporting Goods and DICK’S Sporting Goods Foundation’s program Sports Matter, which funds and maintains youth sports programs across the nation. The four athletes will each get a $100,000 Sports Matter grant, to be awarded to a local youth sports organization(s) of their choosing.
“We’ve had a blast getting ready for the holidays with Texas’ most inspiring and entertaining sports icons,” said Kari DeGori, VP Local Marketing and Marketing Capabilities at DICK’S Sporting Goods. “These in-store displays are interactive, fun, a great place for photos, and each has its own tie of sport into the holiday – whether it’s a gingerbread locker room, a chimney basketball game, or a vintage farm basketball hoop. We hope that these displays add some extra joy for our customers while they shop for everyone on their list. And we’re thrilled to be able to partner with our Foundation’s Sports Matter program to extend the holiday cheer to deserving local sports organizations.”
“I love competing, so taking part in this Texas holiday contest with some of the best athletes across sports was a lot of fun,” said Chris Paul. “We are all trying to win and become DICK’S Holiday Decorating Officer, but no matter what, we all win as we have the opportunity to give back to youth sports. Thank you to DICK’S for awarding a $100,000 Sports Matter grant to the Chris Paul Family Foundation.”
This campaign will run across DICKS.com, YouTube, streaming, and social media, as well as broadcast on local TV, radio, and other audio platforms in Dallas, Houston, San Antonio, and Austin.
Quinn Ewers decorates Austin DICK’S store
Texas Longhorns quarterback Quinn Ewers is responsible for decorating the Austin DICK’S store on 183A Toll Road. A promotion video captures Ewers placing a giant cowboy hat on a snowman and standing amid a Longhorn-themed tailgate scene while on a video call with actor Matthew McConaughey.
Chris ‘CP3’ Paul decorates San Antonio DICK’S store
Over in San Antonio, Spurs point guard Chris “CP3” Paul is busy decorating the DICK’S store on Northwest Loop 410. CP3 can be seen carefully placing basketballs into a Christmas tree and building a holiday barn-themed basketball court, casually making backward swishes throughout a promotional video.
Simone Biles decorates Houston DICK’S store
World-famous gymnast and gold Olympic medalist Simone Biles has been tasked with decorating the Houston DICK’S store on the Gulf Freeway. In a promotional video, Biles stands in front of goat decorations wearing Olympic medals and a “GO FOR GOLD” sign display. Other notable decorations include a balance beam decked with stockings, a medal podium, and a photo op featuring “five golden rings.”
Dak Prescott decorates Dallas DICK’S store
Dallas Cowboys quarterback Dak Prescott is in charge of decorating the Dallas DICK’S store on University Drive. A promotional video depicts Prescott designing a gingerbread-themed locker room and a tunnel featuring holiday lights, speaking in front of snowmen decked in football gear.
MAP: Where are the DICK’S stores involved in the holiday decoration competition?
Locations of the DICK’S stores being decorated include the following:
- Dallas: 2845 W University Dr., Denton, TX 76201
- Houston: 18650 Gulf Freeway, Friendswood, TX 77546
- San Antonio: 321 Northwest Loop 410, Suite 112, San Antonio, TX 78216
- Austin: 5001 183A Toll Road, Suite N100, Cedar Park, TX 78613
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