MPF: San Antonio multifamily trends 4Q 2014
SAN ANTONIO – Like other major metros in Texas, San Antonio’s apartment sector showed strong growth coming out of the recession. However, unlike those other metros, San Antonio already appears to be reverting to a slow growth pattern that is more consistent with its own historical performances, according to MPF Research.
Structurally, the San Antonio metro is a more moderate-growth metro — heavy on government-related jobs, but not on large private employers.
Eight of San Antonio’s ten largest employers are concentrated in either the public sector or in health care, which helps during economic downturns but limits upside potential during prosperous times.
Still, San Antonio’s relatively strong performances coming out of the recession led to increased apartment development, especially in northern submarkets along the metro’s growth path.
| Properties Sampled: 675 | Units Sampled: 143,254 | Submarkets: 14 |
What changed this quarter? In fourth quarter 2014, demand slipped into negative territory. Due to negative demand and new supply, occupancy tumbled to 92.7 percent. Meanwhile, same-store rental rates increased 0.5 percent in 4Q 2014.
| Effective Rent | Occupancy | Annual Job Change | Annual Permits | Annual Demand | Annual Completions |
| $858 | 92.7% | 29,100 jobs | 4,048 units | 5,169 units | 6,303 units |
For a submarket map and additional information, read more at MPF Research.
tags: San Antonio apartment NewsTalk, see Multifamily at San Antonio Market Data Sources
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