September 2014

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Market Summary

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

  • The occupancy figures recorded both positive and negative values for all the classes. For Class A properties, occupancy increased by 0.22% over the month to close at 93.02%; and decreased by 1.08% over the year.

  • 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 $0.018 per square foot to close at $1.115 per square foot. The largest annual increase was noted for Class C with an increase of $0.023 per square foot.

  • Average rental rates per unit reported for Class A properties recorded an increase of $1.51 per unit over previous month. On an annual basis Class A properties recorded an increase of $13.96 per unit to close at $1008.90 per unit. The largest annual increase was noted for Class C properties ($18.16 per unit).

  • 5,476 units are in the construction pipeline, spread over 22 projects. 20.36% of the pipeline is currently pre-leasing.

San Antonio Apartment Market Key Metrics

 Occupancy

91.84%

 Rent / Unit

$779.08

 Rent / SF

$0.957

 Monthly Change

+0.16%

 Monthly Change

+$1.14

 Monthly Change

+$0.002

 Annual Change

-0.89%

 Annual Change

+$15.12

 Annual Change

+$0.018

Absorption in the San Antonio sector in September 2014 was positive (234), while annual absorption totaled positive 938 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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