Thursday, December 17, 2015

Where is everyone renting in San Antonio?

With multi-family construction on the rise, apartment vacancy down and rent going up, it is clear that San Antonias love to rent apartments. This year there were two areas in and around San Antonio that continued to report an increase in their apartment occupancy rate, even when some San Antonio markets were weakened. Let’s take a deeper look at those areas, and check out why they have become so popular to San Antonio renters!

Far Northwest San Antonio

San Antonio is growing north at a very fast pace, and this area of town is right in its growth path. Two major roadways pass through the Far Northwest part of San Antonio, Loop 1604 and Interstate 10, which makes it a very desirable area to commuters. Several employers have given the Far Northwest area momentum including Valero, NuStar Energy, Security Service Federal Credit Union headquarters, and Six Flags Fiesta Texas.  Not to mention the over 30,000 students at the UTSA main campus that call this area home. It is no wonder the occupancy rate keeps climbing! 

The Far Northwest area is considered one of the higher-end areas of San Antonio, and has become well known because of the success of La Cantera Mall and The Rim Shopping Center. Apartment construction has exploded in this highly desirable area. In Q3 more than seventy-five percent of new multi-family construction broke ground in this sector of San Antonio.  


Kerrville

Kerrville is a smaller town located only 62 miles northwest of San Antonio, and in the heart of the hill country. The city is home to Schreiner University as well as Alamo Colleges – Greater Kerrville Center. Located on Interstate 10 Kerrville has two major highways intersecting, State Highway 16 and 27. It is a town thriving on the hospitality and tourism industry, as well as business communities like James Avery’s headquarters.

Job growth is positive and the city has seen a slow and steady growth in population. The majority of the people residing in the Kerrville area are smaller households and they fall in the 35 years or older category.Kerrville has maintained a low unemployment rate while increasing their tourism by twelve percent, which is a good sign for the growth of the area.

Apartment rent rates in Kerrville continue to rise up, while apartments across the board in Kerrville remain at least ninety-eight percent occupied. Kerrville is one of the few areas in and around San Antonio to experience a growth in both occupancy and rental rates. It is also worth noting that that they also have some of the lowest priced apartments across San Antonio. It is not that uncommon to see San Antonians renting in Kerrville and working in San Antonio.

It is clear that both these areas have become very desirable places to live given their continued rise in apartment demand. Are you 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!