By Jennifer Stanko
With the rapid influx of people moving to the Kyle and Buda area, developers of new apartment complexes on the Interstate 35 corridor have seen a rise in prospective renters.
The U.S. Census Bureau states that Hays County takes the top spot as the fastest growing county in Texas and the 5th fastest growing county in the nation. The Bureau also estimates an average of 100 to 150 people moving into the area per day.
The county has seen a 4.8 percent increase in growth between 2013 and 2014.
In order to accommodate, several new apartment complexes have sprung up along the IH-35 corridor.
One of those complexes is the Carrington Oaks Apartment Homes, which is located along Cabela’s Drive in Buda. The complex, which houses 303 units, started construction in July 2014 and began leasing in May 2015.
Staff at the Carrington Oaks Apartments said the complex averaged 40 move-ins per month during the months of June, July and August.
One other new complex is The Strand, which is located just off of exit 213 in Kyle.
The Strand began leasing its finished complexes in July and still has more units under construction.
According to the apartment manager of The Strand, the complex is currently at 60 percent occupancy and plans to be nearly full just after construction is complete at the end of this year.
The manager said that two main factors drew the development of these complexes in Hays County. One was that the land was much cheaper than neighboring Austin, and that business is booming in this area. For those that commute to Austin, it is a mere 20 minute drive
But various apartment managers in the area have said vacancies often do not last long due to the rapid rise of people moving to the area.
Complexes that have been open for more than a decade, such as Saddle Creek, are at 100% occupancy.
According to Zillow’s rent index, the average rent in Hays County is $1,544 per month, which is just slightly more than the national average of $1,381. An apartment in Austin averages about $1,698 per month.
According to the Carrington Oaks webpage, rentals are expected to stay high due to the growing retail and business in this area.
