July 2009
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San Antonio posted an increase in occupancy during July, making it the only metro area of the four major Texas markets to do so. This also marks the third straight month with increases in occupancy and absorption for the multi-family sector. While market average rents per unit held steady for the month, Class A properties gained $0.46, leading all classes. Class A properties performed similarly well with regards to occupancy, increasing 0.46% over the month (89.96%) and again leading all classes in gains.
San Antonio apartment market occupancy increased 0.12 points over the month, and is down 2.57 points over the last previous year to 88.76%. Rental rates per square foot dipped $0.001in July to $0.857 psf, but are up $0.004 psf above last year’s level. At $694.94, rent per unit reported a monthly had no change, but was up $5.39 over the year. Absorption in July was 276 units; annual absorption totals -1,691 units.San Antonio Apartment Market |
|
Occupancy |
88.76% |
Monthly Change |
+ 0.12% |
Annual Change |
- 2.57% |
Rent / Unit |
$ 694.94 |
Monthly Change |
- |
Annual Change |
+ $5.39 |
Rent / SF |
$0.857 |
Monthly Change |
- $0.001 |
Annual Change |
+ $0.004 |
Monthly Absorption |
+ 276 |
Annual Absorption |
- 1,842 |
Units U/C |
5,946 |
Units Planned |
3,862 |
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