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Nvidia Eyes Austin: What's the Multifamily Market Around 11515 Burnet Road?



What happens when the world’s most powerful AI chipmaker moves in next door?


According to The Real Deal, AI chipmaker Nvidia is currently in talks to lease 100,000 sqft at 11515 Burnet Road, a Brandywine Realty Trust-owned building that's part of the Uptown ATX mixed-use development.


That got me thinking:

"What does the surrounding multifamily market look like?"

I zoomed in on what this could mean for the local multifamily housing market — and whether this part of North Austin is about to get hotter than a Texas summer.


Using our Market Stadium platform, I did a quick, 10-min analysis to explore the market dynamics around the location — and the numbers paint a very solid picture.



To download the Full Report, click the pdf file below. Includes AI-powered insights, rent comps, construction pipeline, forecast scores, and resident profiles.

 

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Below is a map of the building location and the census tract it belongs to. Following that, you’ll find highlights of the surrounding market based on both radius and tract-level analysis.


Summary

The area where Nvidia is considering a lease — 11515 Burnet Road — is not only a key commercial node, but also sits within a multifamily market primed for continued growth.


Construction Pipeline

Units Under Construction (next 2 years):

  • Within a 3-mile radius, 1,121 units are currently under construction and expected to deliver within 2 years — reflecting sustained developer confidence in the area’s demand and absorption potential.




Q4 – High-Tech Growth, Low Housing Price Growth

  • Characteristics: A fast-growing population of high-tech workers, but housing values haven't caught up—yet.

  • Examples: League City, Dickinson, 77077, 77042, 77082, 77365, 77338

  • Strategic Insight: These are areas of potential future housing value growth due to spill-over effects from nearby Q1 ZIP codes.



Rent Comps for Multifamily

Building Class Key:

  • N = New Development

  • A = Class A


Median: ALL Properties
















Location Quality

According to Market Stadium's location scores, this census tract shows both a high Current Score and an even stronger Forecast Score:

  • The Current Score reflects a neighborhood that is well-established and competitive today, with strong fundamentals.

  • The Forecast Score indicates ~10% annual housing value growth potential over the next 3 years, among the highest in the metro.


This combination signals both present stability and future upside — a rare and valuable pairing.


Rent Market Snapshot

  • Median Rent: $1,670 (vs. Austin MSA: $1,515)

  • Rent PSF: $2.10 (vs. MSA: $1.80)

  • Median Unit Size: 819 sqft

  • Vacancy Rate: 5.5% (lower than MSA)

  • Avg. Year Built: 2012

  • Avg. Units per Property: 394


Residence & Supply Profile

  • Renter Occupancy: 96% (owner-occupied: 4%)

  • Dominant Unit Type: 1-Bedroom

    • Sales Price (1BR): $288 per sqft

  • Major Housing Type: 50+ unit multifamily properties

  • Median Age: 32 (Austin MSA: 37)

  • Median Household Income: $91,118 (MSA: $113,630)

  • Six-Figure Earners: 32% (MSA: 45%)

  • Poverty Rate: 12.4% (MSA: 7.3%)

  • Top Age Group: 25–34

  • Fastest Growing Cohort: 35–44

  • Top Job Sectors Among Residents:

    1. Professional, scientific, and technical services

    2. Retail trade

    3. Health care and social assistance

  • Commute Modes:

    • Drive: 90.2%

    • Public Transit: 5.9%

    • Walk: 3.9%


Major Employers Nearby

This location is surrounded by major economic anchors, including a mix of tech, auto, consulting, and healthcare employers:

  • Apple

  • Tesla

  • Deloitte

  • General Motors

  • CyberCoders

  • PwC (PricewaterhouseCoopers)

  • Ascension

  • VIP Staffing

  • St. David’s South Austin Medical Center

  • St. David’s Medical Center


The proximity to this diverse base of high-wage employers reinforces the area’s renter demand and economic resilience.


Economic Indicators

  • County GDP: $188B (Travis County)

  • Unemployment Rate: 3.11% (vs. MSA: 3.12%)

  • Cost of Living Index: 107 (vs. MSA: 106.6)


Other Highlights

  • Walkability Score: 28/100 (Car-Dependent)

  • Major Universities Nearby:

    • UT Austin

    • Texas State University

    • Southwestern University

    • St. Edward’s University

  • Major Airport: Austin–Bergstrom International



Food for Thought

In real estate, timing is everything.

Nvidia’s lease talks may be about office space — but the real signal might be the housing demand that follows. Are we watching the next Austin boom node take shape?




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Dennis Lee

CEO at Market Stadium

Prev. Lionstone Investments Research Team



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