Get ready to pay higher rent in San Antonio. The Alamo City is bucking the national trend as, nationally, rent is either going down or remaining stable.
New residential buildings in San Antonio can’t be built fast enough.
“We’ve been seeing a lot of people moving here from out of town; 65 percent of the market is San Antonio is still some of the more established, older apartment communities. And they’re seeing, as these new properties are being built, they’re it’s in the best interest to do a few upgrades and they can raise their rents,” said Audra Jones with Apartments Now.
The average rent in San Antonio was $870 per month last year for a one-bedroom apartment. It’s gone up 6 percent from last year, meaning you’re now paying about $922 per month.
San Antonio rents are still far below the national average, though. A one-bedroom in Miami goes for $1,800 and $1,180 in Dallas. In Austin, it’s about $1,160. Houston is a little bit cheaper at $1,040. And in Corpus Christie: $820 per month.
So long as San Antonio keeps growing, though, those old rent prices we used to enjoy may be gone with the wind.
“We’re probably not going to see that for awhile,” Jones said.
The most expensive areas in San Antonio are on the northwest side near 1604 and I-10, the Stone Oak area, and Alamo Heights.
(© 2016 KENS)