MARKET SNAPSHOT San Antonio Q3 2025

Market Overview

‍A quieter quarter in the San Antonio multifamily market saw average rent settle at approximately $1,230 and occupancy fall to 88.1% in Q3 2025. Net absorption remained steady at 5,904 units year-to-date, yet the ongoing delivery wave, 5,973 units completed so far, continued to apply pressure. Annual rent change declined 3.3% and occupancy fell 120 basis points year over year. With developers scaling back to roughly 3,200 units under construction, the market is positioned for gradual tightening heading into late 2025.

‍About MMG

‍MMG Real Estate Advisors is a metro-focused multifamily research and advisory firm that publishes quarterly reports on rent trends, occupancy shifts, supply pipelines and absorption patterns. Their San Antonio Q3 2025 analysis helps owners, developers and investors evaluate local fundamentals and anticipate market-turning inflection points. To read the full report, click here.