(Multifamily : Austin-Round Rock) 1/9/2008 Prices for apartment rentals in Austin are on the rise as occupancy rates increase, according to Capitol Market Research. One-bedroom apartments have increased to an average of $714 a month, about $100 more than they cost two years ago. Two-bedroom, two-bath units are up to $938, also about $100 more than two years ago. The market is seeing a mix of newcomers and renters who are shopping around after their rents were raised. Strong job growth in the past 12 to 18 months has also kept the apartment market healthy. Charles Heimsath, president of Capitol Market Research, predicted that occupancy rates will hold at 96 percent this year. Heimsath predicts Austin-area rents will rise 5 percent to 6 percent this year, with ample demand to fill the estimated 6,000 units that are expected to open. Last year, the market absorbed 5,600 units. [Austin American-Statesman]