Is it that much of surprise that far Northwest San Antonio was recently ranked by multifamily real estate analyst group, MPF Research, as the 9th busiest submarkets in the nation for apartment construction. Apartment development is evident if you drive around the area and many new apartment projects have popped up all over far Northwest San Antonio.
In the past five years, the far Northwest area of San Antonio has added more than 4,000 units, and over 2,000 are planned for the end of this year’s first quarter. Apartments also rent for much more in this busy area of town. An average apartment in far Northwest San Antonio averages $1,200 a month, which is substantially higher than the city’s average of $900 a month. The high rent rates still do not keep tenants away. Occupancy remains high with over 90% of units occupied even as rents continue to climb by more than 3% in the first quarter.
The far Northwest remains popular because of the presence of many of the city’s largest employers that are in the area such as Valero, USAA, Harland-Clark.
So where’s the best part of town to rent in? It all depends on who you ask. Give our apartment finders at Apartments Now a call today and get the real scoop from agents who are knowledgeable of the apartment inventory and what is going on in the city – for free!