October 2014

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Market Summary

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

  • The occupancy figures recorded both positive and negative values for all the classes. For Class A properties, occupancy increased by 0.01% over the month to close at 93.03%; and decreased by 0.72% over the year. The largest annual increase was noted for Class B properties (0.30%).

  • 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 $0.001 per square foot over the month. Over the year Class A properties reported an increase of $0.018 per square foot to close at $1.116 per square foot. The largest annual increase was noted for Class C with an increase of $0.020 per square foot.

  • Average rental rates per unit reported for Class A properties recorded an increase of $0.88 per unit over previous month. On an annual basis Class A properties recorded an increase of $12.35 per unit to close at $1009.78 per unit. The largest annual increase was noted for Class C properties ($16.25 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

91.93%

 Rent / Unit

$779.89

 Rent / SF

$0.958

 Monthly Change

+0.08%

 Monthly Change

+$0.81

 Monthly Change

+$0.001

 Annual Change

-0.26%

 Annual Change

+$13.24

 Annual Change

+$0.016

Absorption in the San Antonio sector in October 2014 was positive (113), while annual absorption totaled positive 1,787 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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