May 2014

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Market Summary

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

  • The occupancy figures recorded both positive and negative values for all the classes. For Class A properties, occupancy increased by 0.13% over the month to close at 91.90%; and decreased by 1.28% over the year. The largest increase on monthly basis was noted for Class B properties with an increase of 0.17%.

  • Average rental rates per square foot recorded marginal changes over the month for all the classes. The average for Class A reported an increase of $0.002 per square foot over the month. Over the year Class A properties reported an increase of $0.015 per square foot to close at $1.104 per square foot. The largest annual increase was noted for Class B with an increase of $0.017 per square foot.

  • Average rental rates per unit reported for Class A properties recorded an increase of $1.40 per unit over previous month. On an annual basis Class A properties recorded an increase of $11.45 per unit to close at $999.16 per unit. The largest annual increase was also noted for Class C properties ($24.01 per unit).

  • 5,756 units are in the construction pipeline, spread over 23 projects. 25.63% of the pipeline is currently pre-leasing.

San Antonio Apartment Market Key Metrics

 Occupancy

91.11%

 Rent / Unit

$772.76

 Rent / SF

$0.949

 Monthly Change

+0.12%

 Monthly Change

+$1.18

 Monthly Change

+$0.001

 Annual Change

-1.47%

 Annual Change

+$17.97

 Annual Change

+$0.021

Absorption in the San Antonio sector in May 2014 was positive (184), while annual absorption totaled negative 310 units. 3,021 units are in the planning stage.

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O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955  


 


 

 

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