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Rising demand for every class of apartment bolsters continued rent growth in SARising demand for every class of apartment bolsters continued rent growth in SAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=141462016-08-12T05:00:00Z

​SAN ANTONIO - Alamo City’s multifamily market has hit a perfect storm of increasing demand, new construction and rental rates.

And despite an expected rise in vacancy, the market is more than strong enough to handle it.

Rents topped $1,100 per month in four submarkets during the last year, including:
  • Alamo Heights, 
  • Central San Antonio, 
  • Far North San Antonio and
  • Far Northwest San Antonio.
The average ranged from $1,108 per month to $1,238 per month in​these submarkets during the first quarter.​

In the 2Q 2016 Multifamily Research Market Report, Marcus & Millichap said it expects that while market vacancy will hit an upward trend this year as a result of new construction tenant demand for Class B and C apartments will nevertheless push rental rates upward—even if those increases are at a slower pace than usual.

Not surprisingly, job growth will continue to be the driver for new construction, with Marcus & Millichap reporting that 8,200 units are underway in the San Antonio metro, 5,000 of which are scheduled for completion this year.​

San Antonio Business Journal
San Antonio-New Braunfels
Multifamily
http://www.bizjournals.com/sanantonio/news/2016/08/04/rising-demand-for-every-class-of-apartment.html

​See full PDF San Antonio Multifamily Market Report 2Q 2016.

Also check out San Antonio Multifamily Market Research​.

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