Unlocking affordability

San Antonio market offers big bang for the buck at $350,000, says report

In Texas, San Antonio sits at No. 4 on the most-bang-for-the-buck scale.

When it comes to buying a home that supplies the most space for the price, San Antonio reigns as one of the most desirable big cities in the U.S., a new study indicates.

For the study, real estate platform RealtyHop looked at how much square footage a homebuyer could get for a median price of $350,000 in the country’s 100 largest cities. The study found that in San Antonio, a buyer can get a 2,116-square-foot home for $350,000, or $165.38 per square foot.

Among the largest cities in Texas, San Antonio sits at No. 4 on the most-bang-for-the-buck scale.

Austin fares worst in that regard in Texas, with $350,000 buying a 1,056-square-foot home. That works out to $332.10 per square foot. RealtyHop cites San Antonio and Houston as two of the standouts in the U.S. for affordable housing.

Nationally, San Francisco tops the list of least affordable cities. There, $350,000 will get you a measly 349 square feet of space ($1,003.18 per square foot). At the other end of the spectrum, that sum will get you the most space (4,769 square feet, close to the size of a small mansion) in Detroit. That adds up to just $73.39 per square foot.

“For many, the tradeoff between space and cost is a deciding factor on where they choose to settle down. Should you buy a tiny studio in Manhattan or a large townhouse in Atlanta?” RealtyHop observes. “The reality is that living in certain places often means downsizing your expectations.”

Here’s what $350,000 will buy you in the largest cities in Texas, according to RealtyHop:

Austin, 1,056 square feet, $332.10 per square foot.
Dallas, 1,574 square feet, $222.36 per square foot.
Plano, 1,741 square feet, $201.03 per square foot.
Irving, 1,769 square feet, $197.81 per square foot.
Houston, 1,804 square feet, $194.06 per square foot.
Garland, 2,013 square feet, $173.91 per square foot. (The median home size in Texas is around 2,000 square feet.)
Fort Worth, 2,204 square feet, $172.92 per square foot.
Arlington, 2,056 square feet, $170.26 per square foot.
Corpus Christi, 2,092 square feet, $167.27 per square foot.
San Antonio, 2,116 square feet, $165.38 per square foot.
El Paso, 2,742 square feet, $127.65 per square foot.
Laredo, 2,842 square feet, $123.13 per square foot.
Lubbock, 3,569 square feet, $98.07 per square foot.

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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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