San Antonio’s multifamily market is holding its ground according to a new report by CBRE. While Texas multifamily occupancy rose slightly from the same time last year (91.7% in Q3 2914), San Antonio’s multifamily occupancy rate is only slightly behind at 90.5%. San Antonio offers more Class A units than Dallas (18% of total inventory vs. 16% of Dallas’ total) and also offers more Class B units (36% of 159,400 units). However, the 159,400 total units is the smallest number of units when compared to Austin, Dallas, or Houston.
The Stone Oak/Thousand Oaks/San Pedro areas have seen the most growth in the multifamily market with 416 new units and an additional 433 units under construction. Predictions for strong growth and construction have marked downtown and the UTSA/La Cantera/Bandera Road areas as hot spots, with an expected 1,000 new units over the next few months.
image courtesy of nan palmero
