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
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