Saturday, December 10, 2016
All you have to do is jump in a car and drive around to see what type of housing is being built in San Antonio. Multifamily housing, such as apartment communities, accounts for nearly a third of San Antonio’s housing. Of course we know that San Antonio is a great place to live, due to the rising job market and low cost of living, but it is now clear that others has taken notice, even the multifamily developers. As the city continues to attracts more and more renters each year, apartments in San Antonio continue to remain at higher occupancy, driving a sharp rise in rental prices.
Over the past five years the Alamo City has seen an influx in renters driving housing costs at a much faster rate than the state average. According to the U.S. Census Bureau, rent in San Antonio has risen 14% since 2006 and continues to climb. Even though median rental prices all across Texas have risen, they have not risen as rapidly as we have experienced in the Alamo City. The good news is that although rent checks have gotten bigger, San Antonio continues to remain more affordable than larger cities in Texas.
Despite the rapid rise in rent, San Antonio is still has an affordable housing market and provides no shortage of places to rent. Working with a knowledgeable apartment finder can help save you money while guiding you through the entire search process. Give our apartment locators a call and let them help find your next home - for FREE!