More housing is good for everyone
But the Pew report is too kind to Austin's leaders.
A new analysis by the Pew Charitable Trust says what has been said over and over again but apparently needs to be said again: increased housing supply drives down rents for everyone.
Yes, everyone.
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Adam Loewy is one of the top injury lawyers in Austin and very active in Texas politics. While he often disagrees with Jack Craver’s opinions, he’s proud to support independent media.
Here is the most important takeaway (emphasis mine):
In December 2021, Austin’s median rent was $1,546, near its highest level ever and 15% higher than the U.S. median ($1,346). By January 2026, Austin’s median rent had fallen to $1,296, 4% lower than that of the U.S. overall ($1,353). This decline occurred even though the city population grew by 18,000 residents from 2022 to 2024. In apartment buildings with 50 or more units, rents fell 7% from 2023 to 2024 alone—the steepest decline recorded in any large metropolitan area. Rents declined about 11% in older non-luxury buildings that cater to lower-income renters, known as Class C buildings.
I highlight the last fact because it has become a popular talking point among supply skeptics that new housing reduces costs for the affluent but doesn't help (or even harms) the poor.
