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San Antonio apartments 3Q 2012: Hendricks & PartnersSan Antonio apartments 3Q 2012: Hendricks & Partnershttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=88722012-12-04T08:23:00Z2012-12-03T08:30:00Z

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.

San Antonio Multifamily
2012 / 2011 Comparison Vacancy and Rent
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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Berkadia
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