|2017 healthy demand, fewer new apartments to push SA vacancy down||2017 healthy demand, fewer new apartments to push SA vacancy down||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15871||2017-03-02T06:00:00Z||2017-03-02T22:00:00Z|
SAN ANTONIO – Elevated by continued job growth, Marcus & Millichap expects another wave of rental rate increases, dropping vacancy and rising investor demand in multifamily submarkets across the city.
The anticipated growth spurt comes at a slower pace than in years past.
Employment growth will continue to provide streams of new renters, pushing the citywide vacancy rate to its lowest level so far in this cycle.
In its forecast report, Marcus & Millichap expects that rate to drop by 10 basis points to 5.8 percent this year—compared to the 20-point drop recorded in 2016
The average effective rent expects to hit $975 per month for a one-bedroom unit, or a 4.5 percent increase from 2016.
Over the past four years, developers added 26,500 units to the city's inventory.
Most of the new additions to supply over the past few years have been concentrated in San Antonio's northern Hemisfair, specifically in the northwest, central and far north central regions.
|San Antonio Business Journal||San Antonio-New Braunfels||Multifamily|| http://www.bizjournals.com/sanantonio/news/2017/02/17/healthy-demand-fewer-newapartments-to-push-sa.html|
See San Antonio Multifamily Market Research for quarterly reports.