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Projection: San Antonio apartment demand strengthens amid job growthProjection: San Antonio apartment demand strengthens amid job growthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=149202016-10-25T05:00:00Z2016-10-25T19:00:00Z

​​​SAN ANTONIO - Employment gains are keeping vacancy historically low despite an influx of deliveries this year in the multifamily market, according to Marcus and Millichap's third quarter 2016 market report.

Among Marcus & Millichap's other local projections for 2016 year-end:

  • Rental completions will reach a historic high this year, as developers add 7,100 units to stock.

  • ​Vacancy will sit at 6.2 percent by year-end, up 10 basis points from last year.

    Record-setting deliveries will minimally impact metro vacancy this year, a testament to strong rental demand.

  • ​Strong renter demand will facilitate rent growth this year. The average effective rent will increase 4.2 percent in 2016, ending the year at $933 per month. 

Outlook: Class B and C assets will remain in high demand, but the completion and lease-up of a number of Class A properties will attract institutional buyer attention, increasing the pool of active investors in the market.​​

Marcus & Millichap Real Estate Investment Services
San Antonio-New Braunfels
Multifamily
https://assets.recenter.tamu.edu/Documents/MktResearch/SanAntonio_Multifamily_MarcusMill_MarketReport.pdf

​See San Antonio Multifamily Market Research for lots of free data to save you time.

See the full report at {Source}

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