This is not going to happen. Rent growth will just “normalize,” which it already has to extent, from the insane growth rates of the previous several years.
All of those places you listed are still exploding with population growth and will continue to do so.
Leander/Georgetown/Kyle are all in the top 10 fastest growing metros over 50K nationally, with New Braunfels at 13.
There also hasn’t been any new construction starts in the past 12-months and probably won’t be any of significance for another 12. Construction costs are still high and Capital is too expensive to pencil… not to mention land Sellers have not fully readjusted their pricing expectations. That is going to create a lag in supply in market dealing with significant pop and job growth.
I would argue there is clearly not enough housing, of all types, being built in the metro. It is one of the largest concerns for the chamber and opportunity Austin. The job growth is going to continue to be very strong in central Texas and people need a place to live.
We are still at 150+ new residents a day (births/death, in-migration/out-migration)