S.A. Apartment Numbers Show Continued Rent Growth

Though San Antonio’s apartment numbers are cooling (especially following a record-setting summer), research from Reis (Q3 2019 preliminary research) and ApartmentData.com (September 2019 numbers) point to continued strength and a positive outlook, especially given economic fundamentals.

ApartmentData.com reported an occupancy level of 91.5%, with annual rent growth at 5%. Meanwhile, 5,832 units are under construction, with 12,282 units on the drawing board. The hottest San Antonio apartment markets, based on rent growth, are listed below.

Reis’ numbers show an effective rent growth (which includes concessions and discounts) of 3.4% year over year, and vacancy of 5.9% (94.1% occupancy).

It’s uncertain how, and if, the market will absorb the units currently under construction, though cyclical slowdown is generally anticipated, beginning in September.

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