March 2014

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Market Summary

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

  • The occupancy figures recorded both positive and negative values for all the classes. For Class A properties, occupancy increased by 0.02% over the month to close at 91.91%; and decreased by 1.97% over the year. The largest increase on monthly basis was noted for Class C properties with an increase of 0.12%.

  • Average rental rates per square foot recorded marginal changes over the month for all the classes. The average for Class A reported an unchanged figure over the month. Over the year Class A properties reported an increase of $0.012 per square foot to close at $1.101 per square foot. The largest annual increase was noted for Class C with an increase of $0.028 per square foot.

  • Average rental rates per unit reported for Class A properties recorded a decrease of $0.11 per unit over previous month. On an annual basis Class A properties recorded an increase of $8.87 per unit to close at $996.19 per unit. The largest annual increase was also noted for Class C properties ($22.64 per unit).

  • 5,463 units are in the construction pipeline, spread over 22 projects. 34.48% of the pipeline is currently pre-leasing.

San Antonio Apartment Market Key Metrics



 Rent / Unit


 Rent / SF


 Monthly Change


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 Monthly Change


 Annual Change


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 Annual Change


Absorption in the San Antonio sector in March 2014 was positive (355), while annual absorption totaled negative 640 units. 3,301 units are in the planning stage.

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