San Antonio’s multifamily market continued to benefit from sustained population and employment growth through 2019’s second half. Following robust supply for the better part of this cycle, the metro recorded a sharp deceleration in deliveries during 2019. This has helped keep demand in check, with rents going up 2.1 percent to $1,050 year-over-year as of November 2019. On the other hand, a consequence of the metro’s long-term strong pipeline is a descending occupancy rate in stabilized assets—93.0 percent as of October, down 20 basis points over 12 months and one of the lowest across all major national metros.
Read more...San Antonio Multifamily Report – Winter 2020 via Multi-Housing News Online