June 2012
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Market Summary
- The key metrics of the San Antonio area multifamily sector were continued to record positive change.
- For Class A properties, occupancy came down by 0.03% compared to the previous month to close at 94.7%. The average for this class also declined over the year by 0.17%. Other classes did not record any significant change over the month and over the year.
- Average rental rates per square foot did not record significant changes over the month. Over the year, the average for Class A properties went up by $0.020 to close at $1.056 per square foot; for Class B properties the average went up by $0.027 to close at $0.885 per square foot.
- Class B properties recorded the largest annual change in rental rates per unit. The average for this class increased by $20.99 compared to last year to close at $685.59 per unit. The average for Class A properties went up by $15.14 over last year to close at $959.26 per unit.
- 4,638 units are in the construction pipeline. 36% of these (1,703 units) are currently pre-leasing.
San Antonio Apartment Market Key Metrics |
Occupancy |
92.58% |
Rent / Unit |
$731.16 |
Rent / SF |
$0.899 |
Monthly Change |
-0.01% |
Monthly Change |
+$1.68 |
Monthly Change |
+$0.003 |
Annual Change |
+0.79% |
Annual Change |
+$19.77 |
Annual Change |
+$0.024 |
Absorption in the San Antonio sector in June was negative (-32), while annual absorption totaled positive 1,362 units. 1,082 units are in the planning stage.
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