San Antonio

Our first stop on the 2019 Figure 9 Real Estate Multi-Family Market Tour was San Antonio. Overall, the market showed promise. So, we wanted to check out San Antonio ourselves.

Here is a summary of what we found


Below are a few of the key market indicators:

  • Rent Growth: 2.9%
  • Vacancy: 8.8%
  • Jobs: 2.0%
  • Population Growth: 1.5%


Here are some of the PROs and CONs from our impressions:

  • PRO: Solid and stable market – Established industry and military presence
  • PRO: Diversity in employment – Creates a reliable tenant base
  • CON: Limited growth – San Antonio has been growing, but not as much as other markets
  • CON: Limited Deal-flow – Not many opportunities for Value-Add strategies that fit for Figure 9 Real Estate

Our Impressions

Money could definitely be made, especially for established local players.
Limited upside potential with the lower growth rate and limited Deal-Flow we found.


We are gong to pass