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San Antonio Multifamily Gets Stable 2003 Start

SAN ANTONIO-Austin Investor Interests fell slightly to 91.8%, but the usual first-quarter surge should notch it up to 92%. That and even market concessions couldn't cast a pall over the closing table, where owners got the highest per unit price in a decade.

By Tim Green | Updated on January 30, 2003

SAN ANTONIO-The city’s multifamily market showed a measure of stability in 2002 with slight movement in occupancy and rental rates. The brightest return came at the closing table, with sellers collecting the highest per unit price in a decade.

The occupancy rate in the fourth quarter fell to 91.8%, a drop of 1.29%, according to the Trend Report compiled by Austin Investor Interests. The usual first quarter rebound should notch the rate to a full 92%. Rental rates were 77 cents per sf, up one cent for the year. There’s been little rent movement among the classes of apartments.

“San Antonio is showing real stability,” Robin Davis of Austin Investor Interests says. “We’re getting a lot of interest in it.”

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