Acreus
Loading
Loading
North Central Austin is the metro's tech employment epicenter — and the Domain is becoming Austin's second downtown. The submarket outperformed the metro in Q2 2025 with a 240 bps vacancy drop, driven by the gravitational pull of Apple's $1B campus, IBM's $40M renovation of Domain 12 (320K SF, lease extended to 2040), Amazon's 330K SF expansion adding 2,000+ jobs, and Nvidia's expansion to 230K+ SF. The near-term story is one of aggressive concessions masking underlying strength. Domain luxury apartments are offering 8-10 weeks free (Solaris House, The Bowen, Gallery at Domain), pushing net effective rents 15-20% below asking. But the fundamentals are turning: absorption outpaced supply in H2 2025, vacancy is falling, and the construction pipeline is at a 10-year low. The $3B Uptown ATX mixed-use development (66 acres, 7M SF at full buildout) and the new CapMetro North Burnet/Uptown Station (construction began Nov 2025, projected 2nd busiest Red Line stop) are transforming the area's long-term density and transit connectivity. The investment thesis is clear: buy at concession-driven discounts in a submarket where the largest tech employers in the world are making decade-long commitments. Camden Property Trust's acquisition of 352 units at 16% below appraised value signals how institutional capital views this opportunity. North Central Austin captures 19% of all transplants moving to Austin — the demand floor is as strong as any submarket in the Sun Belt.
Average rent: $1700/SF. Range: $689 - $2995/SF. YoY growth: -4.5%.
Vacancy rate: 13.5%. Trend: falling. North Central Austin — anchored by the Domain mixed-use district — posted a 240 basis point vacancy drop in Q2 2025, outperforming the metro average. The submarket benefits from its concentration of tech employer campuses (Apple, IBM, Amazon, Indeed) and the Domain's position as Austin's 'second downtown.' 1,749 units delivered through Q3 2025, but absorption has kept pace. Concessions are aggressive: 8-10 weeks free is standard on Domain luxury product, with some properties (Solaris House, The Bond) offering 10+ weeks. Net effective rents are 15-20% below asking. The construction pipeline is contracting sharply — a former Apple campus (28.85 acres) was rezoned for ~1,200 units, but overall starts are at a 10-year low. IBM's commitment to Domain 12 through 2040 ($40M renovation), Amazon's 330K SF expansion, and the $3B Uptown ATX buildout all point to sustained employment demand. Camden Property Trust CEO Ric Campo: 'Austin's going to be great in 2026.'Net absorption: 20,300 SF.
Average cap rate: 5.6%. Range: 4.7% - 6.8%.
Under construction: 15,900 SF. Planned: 10,153 SF. Deliveries next 12 months: 10,153 SF.
Population: 2,607,298. Growth rate: 1.8%. Median household income: $96,445. Job growth: 1.4%.
Austin, TX
Avg Rent
$1700.00
/Unit-4.5% YoY
Vacancy
13.5%
Avg Cap Rate
5.6%
4.7–6.8%Net Absorption
20K SF
North Central Austin is the metro's tech employment epicenter — and the Domain is becoming Austin's second downtown. The submarket outperformed the metro in Q2 2025 with a 240 bps vacancy drop, driven by the gravitational pull of Apple's $1B campus, IBM's $40M renovation of Domain 12 (320K SF, lease extended to 2040), Amazon's 330K SF expansion adding 2,000+ jobs, and Nvidia's expansion to 230K+ SF.
The near-term story is one of aggressive concessions masking underlying strength. Domain luxury apartments are offering 8-10 weeks free (Solaris House, The Bowen, Gallery at Domain), pushing net effective rents 15-20% below asking. But the fundamentals are turning: absorption outpaced supply in H2 2025, vacancy is falling, and the construction pipeline is at a 10-year low. The $3B Uptown ATX mixed-use development (66 acres, 7M SF at full buildout) and the new CapMetro North Burnet/Uptown Station (construction began Nov 2025, projected 2nd busiest Red Line stop) are transforming the area's long-term density and transit connectivity.
The investment thesis is clear: buy at concession-driven discounts in a submarket where the largest tech employers in the world are making decade-long commitments. Camden Property Trust's acquisition of 352 units at 16% below appraised value signals how institutional capital views this opportunity. North Central Austin captures 19% of all transplants moving to Austin — the demand floor is as strong as any submarket in the Sun Belt.
Average
$1700.00
/Unit
Low
$689.00
/Unit
High
$2995.00
/Unit
Vacancy Rate
13.5%
Net Absorption
20K SF
12 months (2025, metro-wide units)
North Central Austin — anchored by the Domain mixed-use district — posted a 240 basis point vacancy drop in Q2 2025, outperforming the metro average. The submarket benefits from its concentration of tech employer campuses (Apple, IBM, Amazon, Indeed) and the Domain's position as Austin's 'second downtown.' 1,749 units delivered through Q3 2025, but absorption has kept pace. Concessions are aggressive: 8-10 weeks free is standard on Domain luxury product, with some properties (Solaris House, The Bond) offering 10+ weeks. Net effective rents are 15-20% below asking. The construction pipeline is contracting sharply — a former Apple campus (28.85 acres) was rezoned for ~1,200 units, but overall starts are at a 10-year low. IBM's commitment to Domain 12 through 2040 ($40M renovation), Amazon's 330K SF expansion, and the $3B Uptown ATX buildout all point to sustained employment demand. Camden Property Trust CEO Ric Campo: 'Austin's going to be great in 2026.'
Avg Cap Rate
5.6%
Cap Rate Range
4.7% – 6.8%
| Address | Price | $/SF | Cap Rate | Date | SF | Class |
|---|---|---|---|---|---|---|
| Rise 120, Georgetown | $47,500,000 | $171000 | — | 2026-01 | 277 | A |
| Camden Leander, 1101 Halsey Dr | $67,700,000 | $192300 | — | 2025-02 | 352 | A |
| Cielo at North Domain, 9008 Galewood Ave | $12,000,000 | $187500 | — | 2024-10 | 64 | B |
Under Construction
16K SF
Planned
10K SF
Deliveries (12mo)
10K SF
Solaris House at Uptown ATX
Brandywine Realty Trust / ZRS Management
13-story tower, 89 flats + 252 tower units. 23K SF amenity terrace. Part of $3B Uptown ATX campus.
Presidium Waterford
Presidium
6-story, 281K SF at US-183 & Waterford Centre Blvd.
Presidium 183
Presidium
395K SF at Research Blvd / MoPac & 183 intersection.
10711 Burnet Road Tower
High Street Residential (Trammell Crow)
20-story tower with 54 affordable units + 5,700 SF retail. Tallest on Burnet Road.
Former Apple Campus Rezone
TBD
28.85 acres at Riata Vista Circle rezoned for ~1,200 units + 30K SF retail. 10% affordable at 80% MFI.
Taking over Meta's former 320K SF at Domain 12 (17-story Cousins Properties tower). $40M renovation began Nov 2025, wrapping July 2026. Lease extended from 2031 to 2040. IBM has been in Austin 55+ years.
Late 2025
Leasing 330K SF additional space at The Domain. 2,000+ new corporate/tech jobs on top of ~3,000 existing.
2025
Indeed subleasing 118K SF at Domain Tower + 183K SF at Domain Gateway. TikTok's parent ByteDance took 100K SF of Indeed's sublease space in Jan 2026.
January 2026
Acquired 352-unit Camden Leander at 16% below appraised value ($67.7M, $192K/unit). Built 2023, 85% occupied. Signal: institutional capital buying the dip.
February 2025
$3B, 66-acre mixed-use campus. Solaris House (341 units) delivered. CapMetro North Burnet/Uptown Station began construction Nov 2025.
2025
Population
2.6M
Growth Rate
1.8%
Median Income
$96K
Job Growth
1.4%
This is submarket-level data. Get a property-specific report with zoning compatibility, investment metrics, and tailored analysis.
Start Free