Outskirts of San Antonio to reap rewards of rental boom

SAN ANTONIO – Renter spending throughout San Antonio contributed nearly $3.5 million to the city’s economy in 2013, according to a study released by the National Apartment Association and the National Multifamily Housing Council.

Apartment construction is heaviest in Far West San Antonio, Far Northwest San Antonio and Far North Central San Antonio, according to Mike Ruse, President of the San Antonio Apartment Association.

Those areas are where the majority of offices are located and, therefore, where demand for apartments is highest.

The rental boom — both locally and nationally — has been fueled by demographic changes like the growing millennial population and a rediscovery of metropolitan urban cores.

The main issue with San Antonio, however, is that it is still in the process of establishing an urban core. Most of the development in recent years has been cities within cities.