San Antonio has been one of the nation’s most consistent apartment market performers over the course of the past decade, but rent growth results for the past year perhaps give the first indication that the expected evolution in the market’s performance is really starting to happen.
The San Antonio apartment market recorded another quarter of good rent growth, though occupancy didn’t show any progress in the 3rd quarter.
San Antonio’s second quarter performance results exhibited everything a property owner or operator wants to see, including one of the biggest quarterly bumps in occupancy seen since MPF Research started tracking the market about 20 years ago.
Some stimulating projects have been recently completed or are currently rising in San Antonio. Join MPF Research on a visual tour of recently built apartment properties as well as projects under construction.
Occupancy rates are strong in the top half of San Antonio’s apartment market–and not so much in the bottom half. But across the board, rent growth has been limited.
Recycling apartment sites certainly isn’t a new thing, but that pattern really just emerged during the most recent building cycle in Sun Belt locales across the Southeast and into Texas.
San Antonio was one of the nation’s stellar apartment demand performers during 2010, absorbing more than 6,300 units. That demand tally well surpassed completions that came in at just under 2,900 units.
Recent apartment completions have performed very well across many U.S. metros during 2010, and one of the biggest success stories seen anywhere is found in San Antonio.
San Antonio’s apartment sector posted big improvement in the first half of 2010 thanks to annual apartment demand reaching the highest level seen here in a decade.
Texas is the place that continues to build apartments even as the rest of the country slammed the brakes due to the recession.