April 2009
Click here to view as PDF.
April marked the eighth straight month that the San Antonio market posted both negative absorption and declines in occupancy. Rents per square foot also dipped for the month, while rents per unit increased at a significantly slower pace than in previous months. As the under construction pipeline will increase the currently supply by approximately four percent, occupancy over the next twelve months could decline by as much as 2% to 3%. While the long-term outlook remains positive, the San Antonio multi-family sector is in for a challenging ride over the next year.
San Antonio apartment market occupancy decreased 0.16 points over the month, and is down 2.87 points over the last previous year to 88.39%. Rental rates per square foot decreased $0.001 in April to $0.856 psf, but are up $0.007 psf above last year’s level. At $693.59, rent per unit reported a monthly increase of $0.28 and is up $7.74 over the year. Absorption in March was -118 units; annual absorption totals -1,915 units.San Antonio Apartment Market |
|
Occupancy |
88.39% |
Monthly Change |
- 0.16% |
Annual Change |
- 2.87% |
Rent / Unit |
$ 693.59 |
Monthly Change |
+ $0.28 |
Annual Change |
+ $7.74 |
Rent / SF |
$0.856 |
Monthly Change |
- $0.001 |
Annual Change |
+ $0.007 |
Monthly Absorption |
- 118 |
Annual Absorption |
- 1,915 |
Units U/C |
5,595 |
Units Planned |
5,562 |
 |
|---|
 |
To subscribe or unsubscribe to this update, please send an email to Scott Sherrill or call
1-800-856-REAL (7325) ext. 4264.
O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955 Dallas: 214-727-5673
Corporate Office:
2200 North Loop W., Suite 200
Houston, TX 77018
1-800-856-7325
www.poconnor.com • www.oconnordata.com • www.oconnorcomps.com
Houston • Dallas • San Antonio • Los Angeles • Charlotte • Chicago
If you would like to be removed from this list and receive no future real estate information, click here to unsubscribe.