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San Antonio Apartment Market Update

  Market SummaryThe key metrics of the San Antonio area multifamily sector recorded positive changes in February. Overall occupancy recorded a marginal increase; however, occupancy came down for Class...

  

Market Summary

  • The key metrics of the San Antonio area multifamily sector recorded positive changes in February. 

  • Overall occupancy recorded a marginal increase; however, occupancy came down for Class A and Class B properties. For Class A properties occupancy stood at 93.90%, a 0.33% decrease from the previous month. Occupancy in Class B properties was 91.43%, a decrease of 0.02% over the previous month. Occupancy in Class C properties stood at 89.50%, a slight increase from January.

  • Average rental rates per square foot recorded a marginal increase over the month for all the classes. On a year-on-year basis, the rental rates for Class A properties went up by $0.011 to close at $1.046 per square foot. Over the year the average for Class B properties went up by $0.013 per square foot to close at $0.871 per square foot.

  • Rental rates per unit increased significantly over the month. For Class A properties, the average went up $1.91 over January to close at $950.71 per unit. The largest increase over the year was noted for Class B properties. The average for this class went up by $9.48 per unit to close at $673.90 per unit.

  • 3,712 units are in the construction pipeline. 31.3% of these (or 1,162 units) are pre-leasing.

San Antonio Apartment Market Key Metrics

 Occupancy

91.40%

 Rent / Unit

$720.76

 Rent / SF

$0.886

 Monthly Change

+0.03%

 Monthly Change

+$2.92

 Monthly Change

+$0.003

 Annual Change

+0.62%

 Annual Change

+$9.90

 Annual Change

+$0.012

Absorption in the San Antonio sector in February was positive (6), while annual absorption totaled positive 1,514 units. 1Free Articles,109 units are in the planning stage.

Source: Free Articles from ArticlesFactory.com

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 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,Fortworth Retail Lease Dallas industrial leasing, Houston industrial space leasing, Dallas apartments, Fort Worth apartments, Fortworth Retail Space Austin apartments, and San Antonio apartments.



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