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San Antonio Multifamily
A Market Entering Its Next Growth Cycle
Units Absorbed
Occupancy Growth
Supply Reduction
Q3 2025 Investment Brief
A Market Entering Its Next Growth Cycle
San Antonio multifamily fundamentals are showing historic demand strength alongside a sharply contracting supply pipeline. This rare combination positions investors for strong rent growth and stable cash flows in the years ahead.
2025 Permits Issued
Above U.S. Job Growth
Unemployment
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San Antonio multifamily fundamentals are showing historic demand strength alongside a sharply contracting supply pipeline.
Source: RealPage, YardiMatrix
Source: ALN Data, LinkedIn
Source: CBRE, Newmark, MMG, CRE Daily
Source: CBRE, YardiMatrix
2/3 of absorption concentrated in North & Northwest San Antonio, where occupancy exceeds 95%.
Targeting these outperforming submarkets avoids oversupply risks seen downtown.
Source: MMG Real Estate Advisors
San Antonio is positioned for outsized multifamily returns:
Exceptional demand resilience amid historic supply levels
Tightening pipeline that will constrain future deliveries
Sustained job & population growth fueling long-term renter demand
Source: RealPage Analytics, YardiMatrix, CBRE, Newmark
View Full Market ReportProven Returns
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