San Antonio Multifamily Market 3Q24

Market Overview

‍The Newmark Q3 2025 snapshot for the San Antonio, TX multifamily market reveals a notable recovery path: occupancy is at 93.0 % and average asking rent is approximately $1,231. With about 5,882 units delivered YTD and net absorption reaching 7,827 units, demand is outpacing supply. The under-construction pipeline is expected to shrink sharply in 2026 , to about 4,800 units, a 76 % drop from the 2Q23 peak, which sets the stage for stronger rent growth in 2027-29. The city’s diversified economy, anchored by advanced manufacturing, data centers, and the South Texas Medical Center, adds further tailwinds.

‍About Newmark

‍Newmark is a full-service commercial real estate advisory and investment-services firm known for its metro-level multifamily market research. Their San Antonio report blends rent, occupancy, delivery and pipeline data to guide developers, owners and investors in assessing asset-class timing, supply-demand balance and strategic positioning. To read the full report, click here.