Multifamily booms as San Antonio sees second-most apartments built in nation

(Photo of the new Southline Apartments at the Pearl)
(Photo of the new Southline Apartments at the Pearl) (SABJ)

SAN ANTONIOEditor’s note: This story was published through a partnership between the San Antonio Business Journal and KSAT.

The second-most apartments in the U.S. were built in San Antonio in the first half of 2020, according to a report from RentCafé. The metro area is expected to be one of the few to see more units completed than last year.

RentCafé, which uses data from its sister company Yardi Matrix, found that 2,871 apartment units were built in the city of San Antonio in the first half of 2020 — only surpassed by Austin, where 3,827 units were constructed.

However, the San Antonio area doubled Austin in its percentage change of new apartments projected for this year compared to last year, 20% as opposed to 9%. The Houston area saw a slight rise with 2% more apartments projected for this year. These three Texas metros are outliers compared with the rest of the nation, as the report found that 13 of the 20 most active major metros are expected to complete fewer units when compared with last year.

“As the United States begins to recover from its steepest economic downturn in history, the construction industry is faced with unprecedented levels of uncertainty,” Doug Ressler, manager of business intelligence for Yardi Matrix, said in a statement.

Read more on this story at the San Antonio Business Journal.