San Antonio, TX

Renters in San Antonio Hit Hard: Rental Prices Skyrocket Higher Than Any Other City in Texas

Ash Jurberg

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There was bad news for renters in San Antonio last year, with rental prices increasing by over 5% across the year.

In a new report released by online real estate brokerage Redfin, renters in San Antonio faced a more considerable rental increase than any other city in Texas. Between Dec. 2021 and December 2022, rents in San Antonio rose 5.1%.

It was a different story in the rest of the state.

While rentals rose in San Antonio in many other cities, they decreased in most other cities within Texas.

For example, both Houston and Austin saw minor rental relief as they experienced a decrease in rental prices of 4.6% and 2.0%, respectively.

The median rental price in San Antonio is now $1,456 per month. However, given the recent increases in mortgage rates in the United States, many people will still choose to rent over purchasing a property.

According to experts, there could be some good news for renters.

Rents have room to fall. While they’ve cooled significantly from their peak, it still costs the typical renter 20% more to take on a new lease than it did two years ago. An increase in the number of rentals on the market  should also cause rents to ease in the coming months. Rental supply is growing due to an influx of construction in recent years, ebbing household formation and a slow homebuying market, which is driving many homeowners to rent out their properties rather than sell.” Redfin Economics Research Lead Chen Zhao

Your thoughts

Do you think the rental prices in San Antonio are too high? Would you like to see financial assistance for renters in San Antonio? Or do you believe the rental market is fair in San Antonio?

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