March 2008

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The San Antonio market posted an increase in occupancy in March; occupancy remains high compared to the other major Texas markets.  Average rental rates per square foot were unchanged in March and San Antonio rents remain below the rest of the state.  Demand increased in March in San Antonio, but annual absorption is among the weakest of all major Texas markets.

San Antonio apartment market occupancy increased 0.02 points over the month, but is down 0.02 points over the last 12-month period to 90.41%.  Rental rates per square foot were unchanged in March at $0.849 psf, and remain $0.017 psf above last year’s level.  At $688.00, rent per unit reported a monthly decrease of $0.39, and is up $17.68 over the year.  Absorption in February was 259 units; annual absorption totals 1,798 units.

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O’Connor & Associates / Research & Consulting Group
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