{"id":8032,"date":"2024-06-10T10:26:00","date_gmt":"2024-06-10T10:26:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8032"},"modified":"2024-11-08T14:05:26","modified_gmt":"2024-11-08T14:05:26","slug":"san-antonio-multifamily-market-report-may-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-may-2024\/","title":{"rendered":"San Antonio Multifamily Market Report \u2013 May 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <a href=\"\/blog\/san-antonio-multifamily-market-report\/\"><strong>San Antonio Multifamily Market Report<\/strong><\/a>.<\/p>\n\n\n<hr \/>\n<h2>Fundamentals Oscillating In San Antonio<\/h2>\n<p>San Antonio\u2019s multifamily market was a mixed bag at the start of the second quarter, according to the latest Yardi Matrix San Antonio multifamily market report. Rent growth marked the eighth consecutive month in negative territory, down 0.1% on a trailing three-month basis through March, to $1,259, while the national rate rose 0.2%, to $1,721. On a year-over-year basis, the metro\u2019s rent decline was at -1.9%, while the U.S. rate rose 0.9%, notes the most recent <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily report<\/strong><\/a>. Meanwhile, occupancy decreased, down 140 basis points year-over-year, to 91.4%.<\/p>\n<p><iframe id=\"datawrapper-chart-H7MLA\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Antonio vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/H7MLA\/1\/\" height=\"320\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>San Antonio unemployment stood at 4.1% in February, lagging the state and U.S. rates, which both held at 3.9%, according to preliminary data from the Bureau of Labor Statistics. In 2023, the job market expanded 2.7%, or 36,700 jobs, outperforming the 2.0% national rate. Two sectors lost jobs\u2014information and manufacturing\u2014but the losses were limited, at just 400 jobs combined. Moreover, the latter is poised for expansion, as JCB announced plans for a manufacturing facility that will create 1,500 jobs over the next five years. Education and health services and government led employment gains, accounting for half of the positions added in 2023.<\/p>\n<p><iframe id=\"datawrapper-chart-nYQX0\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Antonio Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/nYQX0\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>San Antonio\u2019s supply expanded by 1,035 units during the first quarter of 2024. The pipeline had 21,103 units under construction, but activity is softening, with fewer construction starts recorded during the period compared to last year\u2019s corresponding time frame. Meanwhile, investment volume totaled just $124 million, for a price per unit of $105,384 in March, well behind the $196,096 U.S. figure.<\/p>\n<p>Read the full Yardi Matrix San Antonio Multifamily Market Report: <a href=\"\/publications\/download\/file\/5645-MatrixMultifamilySanAntonioReport-May2024\" rel=\"\"><strong>May 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Fundamentals Oscillating In San Antonio San Antonio\u2019s multifamily market was a mixed bag at the start of the second quarter, according to the latest Yardi Matrix San Antonio multifamily market report. Rent growth marked the eighth consecutive month in negative territory, down 0.1% on a trailing three-month basis through March, to $1,259, while the national [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,125],"class_list":["post-8032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","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 \u2013 May 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Antonio rents continued to decline, down just 0.1 percent on a T3 basis through March to $1,259 but falling 1.9 percent YoY.\" \/>\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-may-2024\/\" \/>\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 \u2013 May 2024\" \/>\n<meta property=\"og:description\" content=\"San Antonio rents continued to decline, down just 0.1 percent on a T3 basis through March to $1,259 but falling 1.9 percent YoY.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-may-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-10T10:26:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-08T14:05:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/11\/San-Antonio-iStock-1915319132.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=\"Adina Rogoz\" \/>\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 \u2013 May 2024 - 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