January 2014

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Market Summary

  • Most key metrics of the San Antonio area multifamily sector recorded positive and negative changes in January 2014.

  • The occupancy figures recorded mostly negative values for all the classes. For class A properties, occupancy decreased by 1.08% over the month to close at 91.87%; and decreased by 1.90% over the year.

  • Average rental rates per square foot recorded marginal changes over the month for all the classes. The average for Class A reported a decrease of $0.003 per square foot over the month. Over the year Class A properties reported an increase of $0.015 per square foot to close at $1.098 per square foot. On a monthly basis rental rates for Class B and Class C properties also reported an increase of $0.001 per square foot respectively. The largest annual increase was noted for Class C with an increase of $0.030 per square foot.

  • Class A properties recorded a decrease of $3.72 per unit over previous month. On an annual basis Class A properties recorded an increase of $13.11 per unit to close at $995.14 per unit. The largest annual increase was also noted for Class C properties ($23.93 per unit).

  • 4,389 units are in the construction pipeline, spread over 18 projects. 29.14 % of the pipeline is currently pre-leasing.

San Antonio Apartment Market Key Metrics

 Occupancy

91.01%

 Rent / Unit

$768.05

 Rent / SF

$0.943

 Monthly Change

-0.55%

 Monthly Change

+$0.04

 Monthly Change

+$0.000

 Annual Change

-1.07%

 Annual Change

+$19.56

 Annual Change

+$0.023

Absorption in the San Antonio sector in January 2014 was negative (129), while annual absorption totaled positive 113 units. 3,303 units are in the planning stage.

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Houston: 713-686-9955  


 


 

 

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