San Antonio Apartment Market Update

By Author: Patrick Oconnor
Total Articles: 42
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In January, key metrics of the San Antonio area multifamily sector remained mostly positive although occupancy figures registered marginal decreases.

Occupancy came down for Class A and Class C properties; for Class A properties occupancy stood at 94.23% at the end of the month, a 0.37% decrease from the previous month. Occupancy in Class C properties was 89.2%, a decrease of 0.1% over the previous month. Occupancy in Class B properties stood at 91.47%, a slight increase from December.

Average rental rates per square foot remained essentially unchanged over the month for all the classes. On a year-on-year basis, the rental rates for Class A properties went up by $0.01 to close at $1.043 per square foot. Over the year the average for Class B properties went up by $0.012 per square foot to close at $0.869 per square foot.

Average rental rates per unit for Class A properties recorded a marginal increase over the month. Over the year, the average increased by $6.46 to close at $948.80 per unit. The largest increase over the year was noted for Class B properties. The average for this class went up by $8.79 per ...
... unit to close at $672.38 per unit.

3,133 units are in the construction pipeline. Close to 37% of these (or 1,162 units) are pre-leasing.
San Antonio Apartment Market Key Metrics

Occupancy

91.39%

Rent / Unit

$717.84

Rent / SF

$0.883

Monthly Change

-0.03%

Monthly Change

+$0.07

Monthly Change

-

Annual Change

+1.03%

Annual Change

+$7.46

Annual Change

+$0.009

Absorption in the San Antonio sector in January was positive (148), while annual absorption totaled positive 2,012 units. 1,625 units are in the planning stage.

Real estate decision makers need timely market data to make informed decisions. It provides insights regarding construction, proposed projects, absorption, and occupancy and rental rate trends. O’Connor and Associates has been providing real estate data since 1988. Both internal and external clients regularly use our real estate market research. The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Dallas retail space leasing, Austin Retail Space , Houston industrial space leasing, Houston apartments, Dallas apartments, Fort Worth apartments, Austin Retail Lease , Austin apartments and San Antonio apartments.