Market Report
San Antonio Multifamily Market Report
1Q 2026
Continuing Appeal for Early Professionals
Signals Optimistic Long-Term Outlook
Rent growth expected to return as supply dwindles. San Antonio’s affordability continues to attract young adults, earning the metro a top-five ranking nationwide for population growth among 20- to 35-year-olds over the past three years. This influx supports the metro’s expanding job base, which is projected to rank second in employment growth among all major markets this year. Driven by its healthcare, government, and defense-based sectors, the metro’s economy should remain resilient in a slowing job market. With a reduced pipeline, the vacancy rate will stand 200 basis points below the 2023 peak of near-9 percent. As a result, the metro is poised to end a three-year trend of rent declines. Despite having a midsize population and apartment inventory, San Antonio has the highest vacancy rate and the lowest average rent among major U.S. metros. This combination signals substantial upside potential as new supply diminishes.
TO READ THE FULL ARTICLE
