Real estate report

Here's how much San Antonio home prices have jumped in just 5 years

Home prices in San Antonio are going up.

Photo courtesy of Kuper Sotheby's International Realty

San Antonio is one of the most buyer-friendly housing markets in the country, but that doesn't mean home prices are stagnant. In fact, local home prices have seen a double-digit increase in recent years, according to a new report.

Real estate news site Point2Homes reports that from December 2013 to December 2018, San Antonio's median home price increased from $171,400 to $226,200, a 32 percent jump that equates to an additional cost of $54,800. San Antonio had the third highest home price growth among the Texas metros studied, but the 19th lowest in North America.

Fort Worth outpaced the rest of the state and was one of 18 North American cities with a price jump over 50 percent (in all, 83 metros were reviewed). The median home price in Cowtown grew 52 percent, from $148,000 in December 2013 to $225,000 in December 2018, a $77,000 jump.

By comparison, other Texas metros saw relatively modest growth. Austin had a 33 percent jump ($226,000 to $301,391), and Houston's median home price increased 27 percent ($188,500 to $240,000). Dallas had the second lowest home price growth among the Texas cities studied, with a median home price increase of 24 percent ($229,900 to $285,000), and at 12 percent, El Paso had the lowest median home price growth in the state (from $137,650 to $154,000).

"Compared to just five years ago, 40 cities in the U.S., 31 in Mexico, and 10 in Canada have seen significant home price hikes, putting considerable strain on the average homebuyer. With more and more people opting for a connected, urban lifestyle, and with the younger generation’s desire to reduce commute time, demand for urban housing is skyrocketing," the report says.

Detroit topped the North America list with a surprising 97 percent increase in home price but a net increase of only $30,143. San Francisco, however, saw the highest net increase: a staggering $550,000 price increase in just five years.

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bang for your buck

San Antonio ZIP code is 4th most affordable place for renters in U.S.

Photo by Florian Schmid on Unsplash

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Trying to afford buying a home in San Antonio is difficult enough with current mortgage rates, and doubly so if you're already paying high rent on an apartment or a house. But there are six San Antonio ZIP codes where renters can get the most bang for their buck, according to a new study by financial services company CashNetUSA.

To find the most affordable ZIP codes for renters in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs in those areas using the Zillow Observed Rent Index. ZIP codes where the average annual rental constituted the lowest percentage of median household income were considered the "most affordable."

San Antonio's 78248 ZIP code specifically stood out as the No. 4 most affordable in the country, and the No. 1 most affordable in Texas. This area encompasses the north San Antonio neighborhoods of Inwood, Forests at Inwood, Oakwood, The Park at Deerfield, Canyon Creek Bluffs, Canyon Creek Village, Blanco Village, Deerfield, Cadillac Drive, and Churchill Estates.

According to the study's findings, the average monthly cost of a rental in 78248 comes out to $1,259.17, and the median annual income of a household in the area is $122,986. Analysts then calculated that the annual rent of a home in this ZIP code only takes up 12.29 percent of a household's median income, which is the fourth-lowest in the nation.

CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household's median annual income.

Elsewhere in Texas, two Houston-area ZIP codes – 77401 and 77094 – ranked No. 9 and No. 12 nationally, while Allen's 75013 ZIP code fell two spots behind to claim the No. 14 spot.

The most affordable San Antonio-area ZIP codes for renters
CashNetUSA further unveiled the five most affordable ZIP codes across major U.S. cities, including in San Antonio, Austin, and Houston.

Following 78248 (which took the No. 1 spot citywide) is 78261 (No. 2), which spans east of Highway 281, across Smithson Valley Road. Rent costs in this ZIP code averaged out to $1,698 per month, the report found.

Landing in the No. 3 spot is 78258, which includes Rogers Ranch, The Vineyard, Stone Oak, Summit, Hidden Canyon, and Big Springs neighborhoods. The report said average rent in the area comes out to $1,507 per month, which takes up 17.54 percent of a household's median annual income.

The remaining top two most affordable ZIP codes for San Antonio renters are located in 78259 (Encino Park, Encino Ranch, Cavalo Creek Estates, Northwood Hills, Summit at Bulverde Creek, Roseheart, Redland Woods) and 78260 in Timberwood Park, which is about 25 miles north of downtown San Antonio.

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