Luxury Apartments Are Bringing Rent Down in Some Big Cities
The ATX Tower, center, a high-end residential and office development in downtown Austin.
Photographer: Montinique Monroe/BloombergRents got cheaper in several major cities this past year, thanks to an influx of luxury apartment buildings opening their doors and luring tenants to vacate their old homes.
But those looking for bargains will have to be quick, since the available apartments won’t last long, developers say.