In a recent Zillow report, it found national rent, on average, has gone up 2.2% since last year, while San Antonio saw average rent fall by 1.8%. <\/p>\n
Some residents we spoke to said despite the news, they are paying too much, but experts say if you need to rent a place and you still haven’t signed a lease, you might be missing out.<\/p>\n
“Right now, if you’re looking to move, it’s the time,” said Gilbert Costello, broker\/owner of Texas Relocation Experts.<\/p>\n
Gilbert Costello, owner of Texas Relocation Experts, helps people find apartments. He says lower rents are also causing apartment owners to offer better concessions to attract renters.<\/p>\n
“Last year we were seeing maybe a month free, waived fees, a little bit, but now we’re seeing six to 10 weeks,” said Costello.<\/p>\n
“San Antonio is really doing everything right,” said Orphe Divounguy, an economist with Zillow.<\/p>\n
Divounguy says the reason for the lower rent is simple: supply and demand. During the pandemic, a building boom took place as developers believed they could build more apartments in more places because of the rise of remote work.<\/p>\n
“The more apartments and homes come on the market, the higher the vacancy rate. The more downward pressure you get on prices and rents,” said Divounguy.<\/p>\n
There are a few reasons the rest of the country did not keep pace with the building happening in Texas and San Antonio.<\/p>\n
“San Antonio has looser building restrictions and land use restrictions. It also has more land available to build on,” said Divounguy.<\/p>\n
Costello says he’s also seeing a lot of people moving to San Antonio from out of state because of its affordability.<\/p>\n
“Still the most affordable big city in Texas,” said Costello.<\/p>\n
Divounguy says developers are now slowing down construction, and prices could start going back up by the end of 2028.<\/p>\n","protected":false},"excerpt":{"rendered":"In a recent Zillow report, it found national rent, on average, has gone up 2.2% since last year,…\n","protected":false},"author":2,"featured_media":385720,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[82,84,83],"class_list":["post-385734","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-antonio","tag-san-antonio","tag-san-antonio-headlines","tag-san-antonio-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/385734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=385734"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/385734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/385720"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=385734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=385734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=385734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}