SAN ANTONIO – COVID-19 resulted in an overall drop in the metro’s apartment rent prices, with the highest class of properties most severely affected.
From March to May 13, the average rent dropped $9 to $969.
Luxury apartments, which account for 23 percent of the market, dropped $14 to $1,229.
The decreased rents can be attributed to renters avoiding moving during the pandemic.
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Source: San Antonio Business Journal
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