SAN ANTONIO – Multifamily occupancy rates fell for the third consecutive month in March 2018 after eight new apartment complexes were delivered to market, according to the latest ApartmentData.com market report.
The month ended with an overall occupancy rate of 89.1 percent, down from 89.3 percent in February 2018.
In addition, the average price per unit increased in March, ending the month at $920, up from February's average of $913.
While San Antonio is still by far the cheapest major market in Texas, it now has the lowest occupancy rate among the state's four largest markets.
The Far West and Northwest submarkets have been experiencing the most new apartment construction, as well as the most rent growth recently.
Check out more San Antonio-New Braunfels Multifamily Market Research.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.