• In December, key metrics of the San Antonio area multifamily sector did not record significant changes over the previous month. Over the year, rental rates in particular recorded significant increases.
  
  
• As with the other sectors, overall occupancy recorded a marginal decrease compared to November. On an annual basis, occupancy was up in all classes. The largest change was recorded in Class C properties; occupancy has gone up by 1.57%. For Class A properties occupancy increased by 1.14% to close at 94.6%.
  
  
• Average rental rates per square foot also recorded improvements over the year. For Class A properties, rental rates were up by $0.009 over the year to close at $1.042 per square foot.
  
  
• Average rental rates per unit for Class A properties continued to decrease on a month-on-month basis. The average decreased by $0.53 per square foot compared to November. Over the year, the average has increased by $6.71 to close at $948.64 per unit. The largest annual increase was recorded for Class B properties; the average increased by $8.31 to close at $671.59 per unit.
  
  
• 3,239 units are in the construction pipeline. Close to 46% of these are pre-leasing.

San Antonio Apartment Market Key Metrics

Occupancy	91.42%	Rent / Unit	$717.77	Rent / SF	$0.883
Monthly Change	-0.06%	Monthly Change	+$0.08	Monthly Change	-
Annual Change	+1.07%	Annual Change	+$7.88	Annual Change	+$0.010

Absorption in the San Antonio sector in December was negative (-80), while annual absorption totaled positive 1,861 units. 1,830 units are in the planning stage.

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