New apartments might be easing rent hikes in San Antonio
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The average rent in San Antonio has increased by 14% since 2019, but it's still lower than the national average.
The big picture: A surge in new apartments is helping to ease rent hikes across the country, but the national average rent remains 19% higher than pre-pandemic levels, per CoStar Group data.
State of play: 9,000 apartments have been added to San Antonio this year with another 6,000 expected by year's end, according to the SA Business Journal.
Yes, but: There aren't enough renters to fill them, which could possibly lower rents this year, per the Business Journal.
Zoom in: The average asking rent in San Antonio rose from $1,108 in the fourth quarter of 2019 to $1,266 in the second quarter of 2024, per the CoStar Group data.
- Rents have stabilized over the past two years, the data shows.
Reality check: The region feels less affordable than it did several years ago, but our average rent is still cheaper than the U.S. average of $1,713.