With multi-family development and apartment demand on the rise, it is clear that San Antonio loves to rent apartments. In Q3 the San Antonio apartment market experienced a slight dip in occupancy rates due to external factors, but even through that dip there are two areas in and around San Antonio that consistently recorded an increase in occupancy. Let's take a look at where those areas are, and why San Antonio renters love living there!
San Antonio is growing north and this sector of town is right in the path. It is a very desirable area to commuters because of the easy access to Interstate 10 and Loop 1604. Valero, NuStar Energy, Security Service Federal Credit Union headquarters,Six Flags Fiesta Texas, along with the over 30,000 UTSA main campus students have provided momentum to this sector.
This area of town has become very desirable with the success of La Cantera Mall, and The Rim Shopping Center. The Far Northwest has seen an explosion of apartment construction in the recent year. Almost seventy-five percent of new multi-family construction that broke ground in Q3 occurred in this part of San Antonio.
The town of Kerrville is only 62 miles north of San Antonio, and in the heart of the hill country. It is home to Schreiber University and Alamo Colleges- Greater Kerrville Center, but mainly recognized for its hospitality and tourism industry. Located on Interstate 10, it is easily accessible also by two major State Highways, 16 and 27.
Job growth is positive for the small town of Kerrville and they continue to hold on to a low unemployment rate. They continue to experience a steady growth in population while also increasing tourism. It is one of the few areas in and around San Antonio to experience a growth in both occupancy and rent this year. It is not that uncommon to see San Antonians renting in Kerrville and working in San Antonio, given their low priced apartments and the short commute down Interstate 10.
It is clear that both these areas have become very desirable places to live given the growth in San Antonio and the continued demand in apartment rentals. Interested in renting in San Antonio? Contact one of our apartment finders and let us help find you the apartment in your budget in your desired part of town!