• Key metrics of the San Antonio area multifamily sector were mostly positive in September.
  
  
• Overall occupancy recorded a slight decrease as did occupancy for Class A properties. Occupancy in Class A properties came down by 0.11% to close at 95.09%. Class B occupancy went up by the same margin to stand at 92.78%.
  
  
• Average rental rates per square foot increased for all classes, both over the month and over the year. The class A average ($1.043) went up by $0.004 over the month and by $0.016 over the year.
  
  
• Rental rates per unit improved significantly over the month. The Class A average increased by $3.90 over August to close at $950.80 per unit. Over the year the average has gone up by $13.56. The Class B average ($668.16) went up by $1.28 over the month and by $8.14 over the year.
  
  
• 2,997 units are in the construction pipeline, almost 20% of which are currently pre-leasing. Eight Class A communities and three Class B communities are underway.

San Antonio Apartment Market Key Metrics

Occupancy	92.03%
Monthly Change	-0.05%
Annual Change	+1.34%

Rent / Unit	$715.49
Monthly Change	+$2.07
Annual Change	+$9.33

Rent / SF	$0.879
Monthly Change	+$0.002
Annual Change	+$0.011

Absorption in the San Antonio sector in September was negative 52, while annual absorption totaled positive 2,079 units. 2,030 units are in the planning stage.

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