San Antonio apartment forecast 2013: Hendricks-Partners
SAN ANTONIO – Local apartment demand echoed trends seen in the single-family arena, with net apartment move-ins rising to 6,300 units in 2012, the highest annual total on record.
Apartment completions rose to a three-year high of 3,010 units, more than twice the year-ago total of 1,160 units.
Forecast for 2013: Apartment demand will remain strong, with new jobs and the need for temporary housing for energy company employees supporting leasing activity. However, absorption will moderate from its record-setting pace of 2012, trending down to just below 4,000 units in 2013 and 1,950 units in 2014.
Apartment deliveries will total approximately 3,400 units this year, softening to about half that supply growth recorded during the following year.
| Submarkets 48+ Units | Vacancy | Average Rent | ||
| 2012 | 2011 | 2012 | 2011 | |
| Central | 2.1% | 3.6% | $715 | $682 |
| North | 2.4% | 5.2% | $790 | $782 |
| Northeast | 1.9% | 5.0% | $784 | $775 |
| East | 2.2% | 7.3% | $685 | $673 |
| Southwest | 2.4% | 3.8% | $702 | $701 |
| West | 2.9% | 8.1% | $585 | $575 |
| Boerne / Kerrville | 1.3% | 3.6% | $707 | $702 |
| New Braunfels / Seguin | 4.2% | 2.3% | $812 | $821 |
| Totals | 2.5% | 5.0% | $746 | $737 |
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