Here's what $1,500 rent gets you in San Antonio
Add Axios as your preferred source to
see more of our stories on Google.
Monthly rent of $1,500 gets you a 1,000-square-foot apartment in San Antonio — substantially larger than the national average of 782 square feet, per a new report from listing service RentCafe.
The big picture: The rental market is thriving as homes for sale are limited and interest rates are high. Gen Zers are also prioritizing location over home size, Doug Ressler of real estate research firm Yardi Matrix tells Axios.
- Those renters are influencing development in big cities, from smaller floor plans to next-level amenities and conveniences.
Zoom in: Among the most populous Texas cities, renters in San Antonio and Houston get the biggest bang for the buck when it comes to square footage.
- Austin and Dallas renters are in cozier spaces for $1,500.
Of note: Researchers considered the rent-to-space ratio in buildings with 50 units or more across the 200 biggest U.S. cities.
Be smart: Rent is rising faster than incomes nationwide.
- The median U.S. renter is spending close to 30% of their monthly income on an average rent, per the latest report from Moody's Analytics.
Yes, but: It's still cheaper to rent than buy in the vast majority of the country, a new Redfin report finds.
- The typical home in San Antonio is 4.9% more expensive to buy than to rent, according to Redfin.