Apartment rentals are popular among San Antonians!
This year the multi-family market in the Alamo City has seen some of the highest occupancy rates, even as apartment construction keeps on a steady rise throughout the city. Although San Antonio had a slight dip in the occupancy rate during the third quarter, it still has managed to remain higher than this time last year.
San Antonio is always busy and a lot that occurred contributed to the dip in the occupancy rate. The third quarter reported not only a rise in homeownership, but also a rise in unemployment due to a reduction of workforce in the hospitality industry. With a slow fourth quarter reported we are expected to lead with the same trends in the next couple months.
With higher occupancy comes higher rent prices for San Antonio renters. Since this time last year, San Antonians have experienced an almost 5% increase. This leaves landlords getting asking rent while offering fewer concessions.
Even with the dip in occupancy rates this quarter, several communities continue to see expansion. The following areas all reported an increase in occupancy:
- South Central
- Far Northwest
Just because apartment rent is on the rise does not mean you have to pay more! Our licensed apartment locators work daily to secure the best deal for San Antonio renters. Contact San Antonio Apartments Now and let us help guide you through the ever changing multi-family rental market!