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Market Summary
Most key metrics of the San Antonio area multifamily sector recorded positive and negative changes in March 2016.
The occupancy figures recorded mostly negative values for all the classes. Occupancy for all the classes remained unchanged over previous month. The largest annual increase was noted for Class C properties (0.07%).
Average rental rates per square foot also reported unchanged figure over the month for all the classes. The average for Class A reported an increase of $0.014 per square foot over the month. The largest annual increase was noted for Class B with an increase of $0.026 per square foot.
Average rental rates per unit reported unchanged figure over the month for all the classes. On an annual basis Class A properties recorded an increase of $11.81 per unit to close at $1.027 per unit. The largest annual increase was noted for Class B, an increase of $20.16 per unit.
4,536 units are in the construction pipeline, spread over 17 projects. 7.93% of the pipeline is currently pre-leasing.
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