{"id":1046,"date":"2021-05-21T10:40:15","date_gmt":"2021-05-21T10:40:15","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1046"},"modified":"2023-09-12T15:13:10","modified_gmt":"2023-09-12T15:13:10","slug":"san-antonio-multifamily-market-report-spring-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/","title":{"rendered":"San Antonio Multifamily Market Report &#8211; Spring 2021"},"content":{"rendered":"\n<p><h2>Demand Persists, Supply Weakens Rent Growth<\/h2><\/p>\n\n\n\n<p>The pandemic\u2019s disruptions paired with substantial inventory expansion pressured <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/tag\/san-antonio-housing-trends\/\" target=\"_blank\" rel=\"noreferrer noopener\">San Antonio\u2019s multifamily fundamentals<\/a><\/strong> at the start of 2021. Rents remained flat on a trailing three-month basis through March at $1,056, but demand stemming from strong inmigration pushed up the occupancy rate in stabilized properties by 40 basis points during the 12 months ending in February, to 92.9%. Year-over-year, the average San Antonio rent was almost flat, up just 10 basis points through March.<\/p>\n\n\n\n<p>Unemployment slid to 6.6% in January, 30 basis points above the U.S. average, while February preliminary data pointed to a slight uptick, to 6.8%. Yet, the employment market outperformed the country by 270 points, marking a 4.1% contraction last year. Trade, transportation and utilities, the only sector that gained jobs (up 0.8%), will likely continue to help strengthen the economy. Amazon plans to open two fulfillment centers by 2022, set to employ 1,500 people. In addition, work is underway at the Innovation Center at Port San Antonio on a new facility that could draw aerospace, cybersecurity and robotics firms.<\/p>\n\n\n\n<p>Nearly 1,000 units came online in the first quarter and an additional 10,165 units were underway as of March. Meanwhile, $359 million in multifamily assets traded, for a price per unit that rose 13.7% from the same quarter last year, to $120,392.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1256-MatrixMultifamilySanAntonioReport-Spring2021?utm_source=Matrix-Blog&amp;utm_medium=Social\" target=\"_blank\" rel=\"noreferrer noopener\">Matrix Multifamily San Antonio Report-Spring 2021<\/a><\/strong><\/p>\n\n\n\n<div class=\"wp-block-spacer\" style=\"height: 45px;\" aria-hidden=\"true\">\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Demand Persists, Supply Weakens Rent Growth The pandemic\u2019s disruptions paired with substantial inventory expansion pressured San Antonio\u2019s multifamily fundamentals at the start of 2021. Rents remained flat on a trailing three-month basis through March at $1,056, but demand stemming from strong inmigration pushed up the occupancy rate in stabilized properties by 40 basis points during [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":1047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,125],"class_list":["post-1046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-san-antonio"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Antonio Multifamily Market Report - Spring 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Antonio\u2019s robust supply additions &amp; substantial construction pipeline, coupled with pandemic disruptions, kept rent growth flat on a T3 basis through March at $1,056.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Antonio Multifamily Market Report - Spring 2021\" \/>\n<meta property=\"og:description\" content=\"San Antonio\u2019s robust supply additions &amp; substantial construction pipeline, coupled with pandemic disruptions, kept rent growth flat on a T3 basis through March at $1,056.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-21T10:40:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T15:13:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/05\/San-Antonio-Matrix-Report-iStock-1267343269.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Antonio Multifamily Market Report - Spring 2021 - Yardi Matrix Blog","description":"San Antonio\u2019s robust supply additions & substantial construction pipeline, coupled with pandemic disruptions, kept rent growth flat on a T3 basis through March at $1,056.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/","og_locale":"en_US","og_type":"article","og_title":"San Antonio Multifamily Market Report - Spring 2021","og_description":"San Antonio\u2019s robust supply additions & substantial construction pipeline, coupled with pandemic disruptions, kept rent growth flat on a T3 basis through March at $1,056.","og_url":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-05-21T10:40:15+00:00","article_modified_time":"2023-09-12T15:13:10+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/05\/San-Antonio-Matrix-Report-iStock-1267343269.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-spring-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"San Antonio Multifamily Market Report &#8211; 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