Q3 2025 San Antonio Multifamily Report

Market Overview

‍Signs of normalisation are under way in the San Antonio multifamily market with vacancy rising to 12.2 percent and effective rents hovering around $1,240 per unit. Although new deliveries are down 38 percent year-to-date and the development pipeline has contracted sharply, leasing demand remains solid with more than 5,400 net units absorbed so far this year. The combined effect points to a market easing into equilibrium ahead of deeper rent recovery.

‍About Cushman & Wakefield

‍Cushman & Wakefield is a global commercial real estate advisory firm that offers research, brokerage, valuation and capital-markets services. Their Q3 2025 San Antonio multifamily market report draws on metro-level data on rent trends, vacancy, deliveries and pipelines to provide owners, developers and investors with actionable strategic intelligence. To read the full report, click here.