Great news for SA Multifamily Investors – San Antonio continues on the up & up!
San Antonio leads Texas in the medical, military, biochemistry and technology industries. With the combination of an abundant supply of cost-effective housing and growing income ratios, the population will continue to increase as San Antonio pulls talent state and nationwide. Check out Sam Tenebaum’s, Director of Market Analytics at CoStar Group, explanation of San Antonio’s analytics and CoStar’s positive indications for the future in the video linked below.
Want the highlights of the review? Check it out.
San Antonio remains one of the strongest economies in the country as seen throughout its recovery from the recession. Job growth has expanded 25% compared to the national rate of 8% (Sam Tenebaum, CoStar). While the population growth is three times the national average, San Antonio is beginning to show signs of lacking in a labor pool. Jobs are here and employers are aggressively recruiting talent from around the state and country to fill these increasing openings. This data is not only for SA but for the nation as the U.S. has a job growth surpassing the workforce population. What is happening though is that the unemployment rate is decreasing with capable workers joining the workforce now. As population growth rises and jobs are filled, San Antonio’s apartment market will easily sustain the tremendous growth and be able to push rents and occupancies. This is great news for us because it just backs up why we continue to invest in San Antonio and neighboring markets.
Check out CoStar’s video, here.