July 2014

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Market Summary

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

  • The occupancy figures recorded both positive and negative values for all the classes. For Class A properties, occupancy increased by 0.11% over the month to close at 92.02%; and decreased by 1.68% over the year. The largest increase on monthly basis was noted for Class D properties with an increase of 0.28%.

  • 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 $0.004 per square foot over the month. Over the year Class A properties reported an increase of $0.015 per square foot to close at $1.110 per square foot. The largest annual increase was noted for Class C with an increase of $0.025 per square foot.

  • Average rental rates per unit reported for Class A properties recorded an increase of $4.02 per unit over previous month. On an annual basis Class A properties recorded an increase of $12.07 per unit to close at $1004.80 per unit. The largest annual increase was noted for Class C properties ($19.77 per unit).

  • 5,696 units are in the construction pipeline, spread over 23 projects. 25.89% of the pipeline is currently pre-leasing.

San Antonio Apartment Market Key Metrics

 Occupancy

91.43%

 Rent / Unit

$776.09

 Rent / SF

$0.953

 Monthly Change

+0.10%

 Monthly Change

+$2.40

 Monthly Change

+$0.002

 Annual Change

-1.04%

 Annual Change

+$15.55

 Annual Change

+$0.018

Absorption in the San Antonio sector in July 2014 was positive (291), while annual absorption totaled positive 578 units. 2,721 units are in the planning stage.

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


 


 

 

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