Dec 3, 2012
San Antonio apartments 3Q 2012: Hendricks & Partners
SAN ANTONIO - Healthy apartment demand underpinned positive net absorption of 1,640 units in third quarter 2012, according to Hendricks & Partners. There are more than 5,725 units under construction,...
SAN ANTONIO – Healthy apartment demand underpinned positive net absorption of 1,640 units in third quarter 2012, according to Hendricks & Partners.
There are more than 5,725 units under construction, as there are significant deliveries slated over the next several years.
Although there is sizeable supply growth, vacancy rates are currently at tight levels. The 3Q 2012 vacancy rate of 2.4 percent is less than half the 5.3 percent recorded in September of last year.
Since June, average asking rent has advanced 0.3 percent to $743 per month.
| Submarkets 48+ Units | Vacancy | Average Rent | ||
| 3Q 2012 | 3Q 2011 | 3Q 2012 | 3Q 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 | 2.4% | 5.3% | $743 | $734 |
Registration is free to view the full report at Hendricks & Partners.
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