Wednesday, June 13, 2018
The average rent rates In San Antonio continue to rise, despite the high occupancy rates. While occupancy rose to 89.9 percent, average rent also increased to $928 during the month of May. Not only did rent increase, but so did the average size of an apartment to 850 square feet.
Rent continued to increase, even as hot markets developed across the city. Areas like Leon Springs, Boerne, Kerrville and Brooks have all seen significant annualized growth. The Northwest submarket, I-10 and Loop 1604 continue to be one of the most active areas for multi-family development. These areas have continued to see price increases, driving renters towards more affordable deals further along North I-10.
If you are in the market for an apartment, take note that concessions will continue to decrease as summer rolls in. Call our expert apartment locators today at (210) 802-1112 to start your free home search!