In March, San Antonio’s average rent clocked in at $1,078 – a 0.2 percent decrease on a T3 basis and 5.2 percent increase year-over-year – making it the fourth lowest of all surveyed metro areas according to Yardi Matrix survey results. Despite the low rents, rent payments accounted for 27 percent of the area’s median income – equal to the national rate and highest among metros in this list.
Deliveries nearly came to a halt with only 78 units coming online through April 2023 – equivalent to 0.1% of existing stock – compared with last year when San Antonio’s stock expanded by 1.4%, or 5165 units; second highest growth among metros ranked here..
The metro had 90% occupancy rate in February (lowest among markets) and 2 .9 % decline rate year over year while absorption inched up 0 .3 % or 607 units out 215 764 inventory total .
