Home > Market Updates, multifamily, Uncategorized > San Antonio Apartment Market Update – January 2011

San Antonio Apartment Market Update – January 2011

All key metrics were positive in January for the San Antonio multifamily sector, with the exception of absorption. Overall occupancy continued to be above 90%, with Class A properties recording an increase of 0.12% to start the year with occupancy at 93.53%.

Absorption continued to be negative for the second consecutive month, a trend observed in December 2009 and January 2010 as well.

Average rental rates per square foot remained unchanged for all classes except Class D which recorded an increase of $0.001 per square foot. Overall rental rates per unit increased by close to half a dollar with all classes registering positive changes.

Rental rates per unit for Class A properties went up by $0.41 on average to close at $942.34. With over 42% of the construction pipeline pre-leasing and less than 125 units expected to deliver in the coming month, the key metrics in the market are expected to remain stable during January.

San Antonio apartment market occupancy increased by 0.02% points in January, and is up 2.30% points over the previous year. Rental rates per square foot increased by $0.001 over the month and increased by $0.009 over the last twelve months.

Rental rates per unit increased by $0.49 over the month to $709.77 and by $6.95 in the twelve month rolling period. Absorption in January was negative 3 units, while annual absorption totals positive 3,586 units.

San Antonio Apartment Market
Key Metrics

Occupancy     90.30%
Monthly Change + 0.02%
Annual Change + 2.30%
Rent / Unit $709.77
Monthly Change + $0.49
Annual Change + $6.95
Rent / SF $0.873
Monthly Change + $0.001
Annual Change + $0.009
Monthly Absorption – 3
Annual Absorption + 3,586
Units U/C 1,204
Units Planned 1,285

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

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