Friday, April 8, 2016
WOW! Did you know that every day 140 people move to San Antonio. Now that's a lot of people all looking for one thing - a place to live! With the rise in population growth along with the rise in home prices, many residents turn to renting.
Today renters are faced with a rise in rent due to low vacancy rates and the influx of new multi-family developments. The climbing rent rate even has some San Antonio renters paying more than the recommended 30% of their monthly income on rent. Good news is that San Antonio is still a very affordable rental market, and there are still many neighborhoods renting on or even below the city medium. If you can't afford to find yourself financially burdened by rent then here are the two most expensive neighborhoods in San Antonio to put on your radar when you rent your next apartment.
Congratulations downtown San Antonio on nabbing one of the most walkable spots in Texas! This area of town can also be crowned as the most expensive neighborhood to rent in the Alamo City. Downtown is the heart of the city, and home to some of the oldest neighborhoods in the city. With a two-bedroom unit costing renters approximately $1,600 a month, they top this list at almost $700 above the city average. One thing is for sure about downtown living, it has come a long way in just a decade.
Olmos Park, located in the north central submarket of San Antonio, follows close behind downtown with the second most highest rent rate. Known for their cute cottage like rental units, a two-bedroom unit in this area of the city will set you back $1,300 a month.
Despite the rising rent, the Alamo City provides no shortage when it comes on where to rent. You do not have to feel burdened by the cost of rising rent in San Antonio. Our apartment finders are knowledgable of the city's apartment inventory and can help guide you through the entire apartment hunting process. Contact us and let our licensed apartment locators help find you the best apartment for your budget!