Provided by ALN Apartment Data, Inc.
Fourth Quarter has slowed the progress San Antonio has made over the rest of this year. Rental Rates are down $2 since September and Occupancy is down 0.1 percentage point. Nothing unusual about either of these figures as that is often the case as demand drops after Labor Day. We expect to see San Antonio return to their more typical growth pattern as spring approaches. With concessions dropping significantly and the spread between Asking and Effective Rents continuing to narrow, these numbers might even be a little better than anticipated as we finish off the year.
Occupancy 90.9% Quoted Rent $737 Effective $706
% of Properties Reporting Concessions – 63%
Effects of Concessions on Entire Market – 2.1 weeks free
Avg Concessions for Properties Offering Concessions – 3.2 weeks