Matrix Multifamily San Antonio Report-May 2023 June 01, 2023

Demand Dwindles in San Antonio

Moderating demand kept San Antonio’s rent growth negative for the fourth straight month, down 0.3 percent on a T3 basis through March, to $1,274, while the U.S. rate remained flat at $1,706. Occupancy also declined, 1.7 percent year-over-year, to 93 percent in February.